New lease in New Jersey.
Last night we signed a least contract and a lot of other accompanying paperwork. Planning on picking up today after work. Deal was 1.4% of MSRP. I’m am happy with it (as it currently is). However:
Our copy of the lease contract is not signed by the dealer.
When asked if we need the lease contract to be signed by the dealer (our copy), the sales guy said he didn’t think it’s necessary for them to sign because they will do an electronic one that comes in the mail. (Is that actually correct?)
**We have our signed copy… but could they have us take the car, draw up a new lease contract a week later, and make us sign a new one costing more? Does this happen? Would we have to eat our out-of-pocket for $1k?)
That sounds about right. My lease doesn’t even have a spot for the dealer to sign.
Forcing you to sign a new, more expensive contract for no reason is terrible for business. Word would spread fast and people would be leaving bad reviews constantly. And you could always just say no thanks and give the car back.
No one can make you sign anything that you don’t want to, and you have your signed copy of the original deal.
Ursus - Just in case, to be clear, the signed lease contract has only my signiature, not the dealer’s signature. does that change anything?
Yes, I understand that. Doesn’t change anything, IMO - you don’t have to sign a new contract if you don’t want to. We have a resident-genius @vhooloo, who may want to give his 22 cents on this.
More of an issue i would have the 1.4% of msrp. For a chrysler that seems high.
I had a similar deal, the fine print of the contract said it become void if I did not receive a signed copy back from them within 60 mins (this was Chevy) … I had found a better deal, so went with it and called the original dealer to tell them the contract was now void and I was moving on… they had a stink and said “I was technically correct” … lucky for me technically right is the best kind of right.
If you don’t take delivery of the car IMO they can’t cash the contract because you haven’t taken it from them.
If you want to back out now is the time to do it. As soon as you take the keys and drive off the lot it’s yours for the next 2-4 years baby!
Took the car. I think it’s 1.14% actually, since taxes were rolled in and paid upfront. Thoughts?
- MSRP $37,105
- Sale Price: $32,900 (not exact)
- Gross cap: $34,600 (not exact)
- Rebates: $4500 (to cap reduction)
- 18,000 miles/year (had to go through Ally, we DRIVE)
- .20/mile over 54k miles
- $425/month (taxes paid up front)
- $1000 cash out of pocket
- Residual: 42% (yeah, Chrysler…)
- MF: .000475
That looks good given the mileage. What car was it.
Pacifica Touring - L with the 8.4 Uconnect and another factory installed option that i can’t remember.
A day late but not a dollar short. A transaction does not need both parties to sign if one party generates such documentation in the ordinary course of business. For example, when you buy groceries with your credit card and sign, the President of VISA does not come and sign next to your signature. Only your signature is required to make the receipt binding …