I signed for a frontier pro4x(msrp 45600) last weekend on a one pay lease for a bit less than $5862 DAS. Dealer called me tuesday and told me NMAC rejected the lease due to cap cost lower than residual plus $100 and wants me to go back and resign the contract tomorrow. The dealer said they will have to increase the cap cost on the contract and they will cover the cost difference which is about $500. They also told me i wont have to pay anythjng.
My questions are,
Who techinicall owns the car right now given that NMAC rejected the lease contract?
Is there anythjng i should do to make sure thst the dealership doesnt screw me over with regards to the $500 difference that they are supposed to cover?
I mean in this issue
This is the 3 or 4th person we see with this
One of the dealers refused to cut a check to the person saying that’s not standard practice
The $2509 “amount to be paid in cash” on the last image…I actually paid $0.
The capital cost reduction of $4002.02 on the 2nd one…I actually paid $0. Of the $19151.96 shown as the total, I recall my actual amount DAS was like $6300-6400 (this was a Bolt single pay).
On the first one, I dont recall what my actual DAS was but it was nothing close to the $8033.36 cap cost reduction (aka the dealer “made” that downpayment on my behalf via discount or some other accounting shell game).
The dealer can be very creative if they need to be.
Now…based on some other discussions re: the dealer cutting back checks, etc and the legalities of it…to me them showing $ I didnt actually give them is effectively the same thing (and dealers do this all the time).
haha. He said he doesn’t want to play with different numbers. so he plans to just increase the sales price on the contract, so effectively, its just a different way to play with the numbers. He did say, they will cover the increase in cost. however, this will definitely increase my cost to extend the lease after 18 months.
I guess another concern is the residual, Given that this month’s residual is lower, I’m curious whether NMAC will honor the same residual now.
I would sign it if the $ in question is just $500 and the dealer verbally confirmed they will cover it . They would have to be stupid to jeopardize their reputation for a few hundred bucks.
