Signed a one pay lease with Hyundai dealer. On 4th day after the lease signing, dealer came back and said “ Hyundai incorrectly promoted the one pay lease and they are unable to fund them.” and before that “ Hyundai and all the Hyundai dealerships are having problems setting up the programming for the 24 month, one pay lease. We may have to convert to the conventional 24 month lease but our store and Hyundai motor finance are trying to work on a solution. You will also have the right to unwind if it is not satisfactory to you.”
Is this right? Is ther dealer trying any tricks here? This is in WA, on an Ioniq6
Lease agreement snippets attached. Did the dealer make a mistake somewhere?
Additonally. I remember seeing a 4 day financing contingency where it said something about providing addl documents if needed etc. today is the 4th day and hence the dealer sent it to me now.
Do I need to do anything before end of day? They havent provided any evidence other than just tell me in email (in my above post).
Do they need to provide me with new lease agreement?
They did say if we dont like any monthly lease terms we can ‘unwind’.
Speculation here, one pay leases aren’t that common where all F&I peeps know how to do them. I’d bet something was keyed wrong and HMF is rejecting the contract.
Most likely with a little effort they will adjust the numbers to where they are correct and have you re-sign. If for some reason they can’t figure out the one pay and you don’t want to accept the terms of a monthly lease, you can “unwind” the deal, return the car, and get your money back.
I agree with the earlier comment that the dealership should be able to call their HMF rep to fill out the forms correctly to make this work. Sounds like the dealership is being lazy and want to take the easy path which ends up costing you more money.
Not sure why the single payment amount is marked NA. I would think that’s part of the issue.
Then it sounds like a good deal. I would wait till what the dealer comes back with first and decide. Definitely keep it if total costs is not far off IMO.
