Hackrs,
Recently put a deal together for parents and had them pick up without me— while I couldn’t get the leasehackr calculator to tie exactly, the deal was good enough that I proceeded anyway.
After reviewing the final lease terms, I found the discrepency was on the dealers end; they used LA tax of 9.5% vs 7.75% where the car will be registered.
My question for you: Will the dealer need to re-do the contract with the correct sales tax amount? If they do, it will save me another few hundred dollars. Thanks for advising!
Yes and no, this seems like a mistake. They type in tax rate manually, it is not auto fed when you put in a zip code. People make mistakes and this seems like an honest one. Reach out calmly, and immediately, say you noticed this error, and can have your parents drive back or FedEx back a new contract to sign and laugh it off. We’re all human, the dealer who did this deal did not make a penny off using the wrong tax rate.
Reason I am so emphatic is because I’ve made this mistake, not once, but a few times. Lol.
Thank you for the response, that was what I figured. Dealer was very straightforward and easy to deal with, so I have no intention of being difficult, just want to confirm that we will need to re-do contract. I actually left a message with the sales manager this AM, but have not heard back yet.
They may not get back to you till Monday or Tuesday… weekend and end-of-month rush. They may be too occupied or distracted trying to close deals. So may have to give it a couple more days
Not sure how equipped this is but of the top an RX 350 would be better deal if buying, long history of value and the 450 is just overpriced to compensate for incentives
They are specifically wanting the ability to drive in EV mode for most of their trips, but still retain ability to go longer distances whenever necessary. Agree that the math doesn’t make sense from a cost savings perspective, but having a one-car that works in any situation is worth the extra cost to them.
Yea, planning on calling Monday morning to have them fedex the correct docs over for signature. Hopefully not too painful if we get it done before month-end.
Given the high MF (APR), it might be better to do an immediate buy out rather than waiting until the lease end. Unless you are not sure about keeping the car at lease end.
Update: talked to finance manager and they said that the contract was funded by LFS-- which is weird, since I am positive the sales tax is wrong. next steps would be to reach out to LFS to see what’s going on their end?
I don’t think LFS cares about tax rate when they fund the deal (depending on how it was structured). What did the dealership say when you told them you were overcharged on taxes?
They said that the system automatically calculates and that LFS would have rejected the contract if the rate was even slightly off. Should I push harder, or reach out to LFS to see what theyre seeing on their end?
The monthly will generally adjust based on registration address, just like if you moved to a different area. The upfront taxes are really the only thing impacted dollar wise.
