Wrong MSD amount in the contract - dealership not responding

Ask the Hackrs
, , ,
1

Hello all,

After researching and reading helpful tips from Leasehackr, I pulled the trigger and signed my first lease contract.

But i’m having an issue with the signed document so I’m seeking your advice once again.

In May, I picked up the new vehicle from out of state.
while going through the document with the Finance manager, I noticed the MSD written in the paper was incorrect. It was $1000 short on the paper than the actual amount I paid.
I paid in 2 different transactions: $5000 on Amex, and the rest with a personal check ( the amount on the check was remaining $2000 for MSD and + @ DAS)
I pointed out the incorrect amount and the guy said he’ll fix it and upload to MBFS.

In June, I opened the copy of the paper from MBFS, it was the initial copy that had listed the wrong MSD amount.
I sent the guy an email requesting to check the document, and he came back saying MBFS confirmed the document is correct.
to my sense, MBFS will always say doc is correct because that was how it was submitted from the dealership. MBFS also said the dealership would have to make the correction and resubmit it to reflect the correct amount of MSD in the lease doc.

so I’ve been bugging the Finance Manager to fix the document but I didn’t receive any response for 3 weeks.

anyone else encountered an issue like this?
I just submitted credit card dispute just in case ( case will take long time and can also be closed from me easily) and will be sending an email to General Manager and the Director of Finance of the dealership.
i’m wondering if this is the right path to resolve since i’m not getting the response back?
It’ll be nicer if I could get this resolved without escalating, but not sure what other options I have at this point.

any advice is appreciated.

2

Your sense is incorrect. If the MSD amount is incorrect in the contract; MBFS would not accept the contract nor fund the deal.

What was the MSD amount in the contract and what is your monthly payment?

3

MSD in the contract is $6000
I paid $7000 for MSD, split in 2 different transactions ($5000 with Amex, the rest with personal check)

4

Did you notice the incorrect amount before you signed the contract?

Was the missing $1K folded into a down payment?

5

What’s your monthly payment? One of those is probably not a valid amount for 10 MSDs.

6

Stop screwing around with the F&I guy that likely made the mistake and contact the GM, GSM or dealer principal (owner) directly to demand it gets fixed to your satisfaction.

7

This should be pretty easy to figure out. I assume you put down x number of MSDs based on your monthly payment. Figure out where all the cash went in your deal. My guess is $1000 of your money went toward fees or first month payment, not MSDs. Since that is not what you intended, the whole contract, including the MF used to calculate your payment, could be off.

8

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.