Hello Friends,
I’ve negotiated a 2021 Volvo XC60 T5 Momentum deal here with my local dealer in AZ. I was going to put down 10 MSDs ($4500) in order to bring down the MF from .00089 to .00039. However, on the 24th when I was supposed to sign the lease & pick up the car, they informed me that they are experiencing some issues entering the MSDs in their system & being Christmas Eve, the Volvo Finance department was closing early and they couldn’t resolve the issue. But since I needed the car for my holiday trip starting on the 26th, they let me take the car signing a ‘Buyer Agreement’ showing the numbers we’ve agreed upon and without putting any money down. They also included a comment (and signed) saying if any of the numbers changes later on, I can simply walk away without signing the contract.
Yesterday they told me they are still unable to resolve the MSD issue because their system won’t accept it. The attached screenshot shows the ‘refundable security deposit’ of $995 which is obviously not the number. The down payment amount is much higher, but they told me they’d honor the amount of $1200 which we had agreed upon. Rent Charge reflect the correct MF that we had agreed upon. My monthly payment amount goes down by almost $15 than what’s on the Buyer Agreement.
However, they will expect me to pay $4500 in MSDs. Isn’t that a red flag? How can I pay an amount that’s refundable to me at the end of the lease period but that’s not mentioned on the contract? Has anyone faced this situation before? I really liked driving the car during my trip and so far everyone at the dealership has been very nice. But don’t want to commit a silly mistake by putting down an amount that’s not on the contract. I also don’t see Disposition Fee mentioned anywhere.
Any suggestion will be highly appreciated. Thanks.
/D
