Lease agreement

[swstrawn]

Jurisdiction

California

I signed a lease agreement for a new vehicle five days ago. The dealer called yesterday saying they made a mistake on the residual value for the car - it should be $5,000 lower. They said the agreement is not valid and will not be certified by Acura Financial Systems.

They also asked me to put an additional $1,000 down and said my payment will go up $40 a month for 48 months. I told them I have a valid lease agreement signed by the dealer - they need to live up to the agreement. I traded in my previous car and paid $2,000 up front as consideration.

Does the car dealer have a leg to stand on? Thank you very much.

 

[adjusterjack]

This kind of thing is a common scam of car dealers.

I suggest you spend a few hundred on having a lawyer review your contract. If the lawyer is sure of your position, have the lawyer write a scary letter to the dealer.

Car dealers are professional liars and thieves. You need a professional working for you.

 

[txls]

Car dealers are professional liars and thieves. That's not true.
Keep in mind they cannot force you to sign anything. Tell them you do not have any additional down and they can just give you back your trade and your $2000.00 and ya'll can part ways.

 

[swstrawn]

Dear txls,

Completely unacceptable response. I paid consideration for the new vehicle and am living up to the agreement that was signed. I am escalating and asking Acura Financial to make my first six payments.

 

[txls]

Well you can ask for anything. Good luck to you.

 

[swstrawn]

Thanks - I appreciate it!

 

[army judge]

Car dealers are professional liars and thieves.

You need a professional working for you.

Amen to that.


You need a state licensed professional working for you to make it all legal.

 

[mightymoose]

Read your contact. There is usually something in there about the dealers right to cancel the deal if financing falls through.
You can accept their terms or refuse. If you refuse you might not get your trade in back, but if it's only been 5 days it's possible.
I suggest you try to walk away and shop somewhere else. Be prepared to pay a bit for the few days you had the car. It would come out of your deposit.

 

[swstrawn]

But the financing is not falling through because of me - it is because of their error. I am not backing down, and am going to ask for more if this is not resolved immediately.

 

[mightymoose]

That doesn't matter. If it isn't approved it isn't approved.
Remember it is still their car until you pay for it in full.
You may have a very tough argument ahead of you, and they could potentially repossess the car if you are uncooperative.

 

[swstrawn]

I disagree completely. The dealer needs to live up to the agreement they signed. Every legitimate lawyer agrees with this position. The longer the dealer the delays, the more expensive this will be for them.

 

[Highwayman]

Every legitimate lawyer agrees with this position.

So tell us, how many of them have you spoken with?

 

[adjusterjack]

I disagree completely. The dealer needs to live up to the agreement they signed. Every legitimate lawyer agrees with this position.

Then, as I told you earlier, you'd better hire one to handle this for you.

If you find your car repossessed your "disagreement" won't mean much.

 

[mightymoose]

I disagree completely.

Read your contract. I assure you the language I mentioned is in there.

 

[swstrawn]

I will hire one. The four attorneys I have spoken with all agree that the dealer has no case, and the longer they delay in settling the more expensive it will be for them.

 

[MargaretSpivey]

I signed a lease agreement for a new vehicle five days ago. The dealer called yesterday saying they made a mistake on the residual value for the car - it should be $5,000 lower. They said the agreement is not valid and will not be certified by Acura Financial Systems.

They also asked me to put an additional $1,000 down and said my payment will go up $40 a month for 48 months. I told them I have a valid lease agreement signed by the dealer - they need to live up to the agreement. I traded in my previous car and paid $2,000 up front as consideration.

Does the car dealer have a leg to stand on? Thank you very much.

I don't believe you have to agree with them. If you already have a contract it's a business loss for them, not you.