Hi!
We like to take a head count of all the inquiries that come in through email. It helps us keep track of the volume we pick up. It’s also easier to answer questions and start a relationship with the customer. I understand the hesitation and apologize for the extra step in contacting us if needed. There have been a lot of inquiries, and it has been working out! Please take the time to do the same if you are interested, we would be happy to help!
What would be helpful is your company explaining how this lease differs from a standard closed end lease agreement. Your sample contract shows you are using an almost 90% residual on a 22 model year vehicle to get to that $400 a month payment. That is not reasonable, so it sends a big red flag for a potential lessee on who owes the difference at lease end.
How the Insurance works and who pay for the insurance ?
Any upfront fees for Tax, Doc, lease …?
There is no owing the difference at lease end. I apologize, but I’m not sure where that idea came from as that is something we have never considering for past, existing, or future customers.
You are responsible for insurance on the vehicle. There are no upfront fees unless you need to pay the transportation cost if it applies to you. First month’s payment is due upon lease signing!
With all due respect, have you read your own lease agreement? Specifically section 13, which specifically notes the laundry list of fees that become due upon early termination and explicitly details how those fees are calculated?
Or are you suggesting you do not enforce the terms of agreement?
So if i return the lease after 12 months then i dont pay the remaining 24 month left on the lease correct?
Whose name the car will be registered since it will be carrying an Iowa plate and who will be renewing the registration each year.
If car has iany mechanical or electrical ssues can we take it to the closest Ford dealership to get it fixed.?
If you look into item 9 as listed in section 13 you will see it show a balance of $0. As for any unpaid monthly payments those will be due if the early turn in date is not discussed. We can’t turn off a payment if it’s not discussed and any missing payments before discussed early termination date are due if missed. Let me know if there are any other questions!
You can turn the car in at 12months with no termination fee. If needed you will need to pay the transportation cost, back to 50428 if that applies. The car will be registered in our name, but we will renew registration each year and supply you with that. The vehicle is covered under warranty and can be taken to any closet Ford dealership to you!
What about about the laundry list of additive fees in section 13 that are imposed in connection with termination beyond the termination fee?
Are you saying that only the first 2 of these 7 early termination charges are enforced? If that’s the case, why list the rest of them in your agreement? There’s an entire paragraph in section 13 dedicated to all of the fees you are charging in the event of early termination. Pasted below:
This is incredibly disingenuous. Your agreement has 7 different fees associated with early termination, but you guys have selectively added a “$0 termination fee” line item to your agreement so that you can market these leases as if there’s no fees associated with termination. This is clearly untrue based on the host of early termination charges listed in section 13.
It’s not the termination fee that’s the painful part here.
It’s the difference between the adjusted lease balance and the realized value.
This is essentially saying “you can turn it in early with no termination fee. It will cost you thousands of dollars, but there won’t be a line item labeled termination fee.”
This deal just keeps going down the rabbit hole of sketch further and further, if they would’ve just been transparent about things I’m sure they would’ve been a hit here but hiding things and having those extra lines in the contract sure do make it look bad
There is no money due at early termination regarding the adjusted lease balance and the realized value if turned in after 3 months. As stated to induvials who reached out “We allow you to turn in the vehicle at any time, but we do require (3) total payments (or 3 months) without a cancellation fee”. Multiple times to people who have reached out it has been stated the lease agreement can be changed as needed upon discussion to make both parties comfortable.
You do understand the issue here with providing a sample lease contract that is in direct conflict with what youre advertising though, yes?
Please explain your sketch concerns and we will help answer any questions needed! There wouldn’t have been a post regarding this lease if the intentions were to not lease these out? Also, this is not a sketch operation we have a handful of these Mache’s in our portfolio we are wanting to push out. We also have more vehicles in our operation if you would like to view those at higher price points.
Thanks you taking the time to help us sort out your lease details. It is a bit unusual for retail lessees to see a deal structured this way. An artificially high residual value used to limit the payment raises concerns, but if you say the lease can be amended to not owe any additional money upon early termination, then this looks like a good deal.
Frankly, this is completely ludicrous. Your contract terms should be matching the terms of the deal. The idea that you would expect a customer to dictate changes to your contract terms on a case by case basis simply to add in language that obligates you to honor the deal as advertised is ridiculous. The fact that you’re willing to adjust the terms for customers that call you out on it, but not adjust it across the board, is a gigantic red flag.
Topic has been temporarily closed due to potential discrepancy between advertised lease terms and actual lease contract. Please allow time as we reach out to seller for clarification. Members are advised to proceed with caution.
Topic reopened. Seller has updated OP to remove the option to opt-out after three months.
this is what sketched me out as well that they would be willing to alter the agreement based on customers demands. They would need to remove all the “additive fees” in section 13 just keep 1 and 2 like @dukez said.
