So I went to buy out my lease at the local dealer and.....
#1
So I went to buy out my lease at the local dealer and.....
Even though the contract said it would be the payoff + 150 dealer fee, they tried to add another $695 in dealer fees! I told them I already paid that at the start of the lease. Getting loud didn't help so I told them I'll continue the lease, turn it in when it's over in a few months, and never lease from them again. 3 dealer fees for one car??!? Ridiculous!! A shame too because my wife really wants to keep the car. Maybe I'll try another dealer, but I'm sure it will be the same story....
#3
there is only supposed to be a one time dealer fee and that is when you initially lease the car. I am on a lease too and have inquired that when it will time to buy out all i have to pay is the $150 for the buyout paperwork and thats it. please try another dealership that likes helping their customers and trying to **** them over for money every chance they get. I think you would be better off if you just called infiniti financial services and did the buyout through them
#5
Review your contract carefully. If you're not contractually bound to pay an additional fee then ask them to put their requirements in writing and politely communicate that you'd like to have your attorney review it. Also, it might not hurt to give Infiniti a call to have them review you situation.
Last edited by MoJ; 02-12-2010 at 11:09 PM.
#6
When does your lease expire? Are they charging add'l fees b/c you're trying to buy the car before lease end?
http://www.leaseguide.com/articles/lease_buyout.htm
http://www.leaseguide.com/articles/lease_buyout.htm
#7
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#8
Thanks for the info guys! I will be sure to try another dealership and post the results. Part of the issue, I'm embarassed to say, is I can't find the original contract. I have every oil change etc..but of course the one piece of paper I need has vanished.
In any event, Infiniti Finance agreed that it is the payoff +150, but they said I must go to the dealer to do it.
I'll keep everyone posted on my progress. Thanks for letting me vent!
In any event, Infiniti Finance agreed that it is the payoff +150, but they said I must go to the dealer to do it.
I'll keep everyone posted on my progress. Thanks for letting me vent!
#9
#11
Even though the contract said it would be the payoff + 150 dealer fee, they tried to add another $695 in dealer fees! I told them I already paid that at the start of the lease. Getting loud didn't help so I told them I'll continue the lease, turn it in when it's over in a few months, and never lease from them again. 3 dealer fees for one car??!? Ridiculous!! A shame too because my wife really wants to keep the car. Maybe I'll try another dealer, but I'm sure it will be the same story....
I understand your frustration, because it made me mad too, and it took an additional 2 hours to resolve the problem. In the end, my monthly payment on the buy out loan was less than my lease, and I knew I was keeping the car. It did not bother me much, especially because I did ask around (including going to a Nissan dealer). When they compromised by removing $200 from the A.M.O., I agreed to the deal. Which means I paid an additional and unexpected $495, but I got to keep a car I love.
#12
#14
I went through the identical thing at my dealer when I did a buyout. It was labeled as A.M.O. and covers many things. First, it is part of how the dealer makes money on the "paperwork" for the loan and to line the pockets of those involved on the deal. The second thing it covers is "gap insurance" which is the loan company's guarantee that they get their money back in case your normal insurance does not cover the entire cost of the loan in case of an accident. In my case, the loan company was Infiniti Financial. They told me it was "required" as part of the deal. I laughed when I pointed to the box they checked for me that says "optional." The took off $200 dollars, which is the money they make. The difference is the "gap insurance" which is like insurance on top of your existing insurance. If you owe Infiniti $20,000 and you total your car, but your normal insurance company feels it is worth $18,000, the "gap insurance" means you will not pay anything out of pocket on the difference.
I understand your frustration, because it made me mad too, and it took an additional 2 hours to resolve the problem. In the end, my monthly payment on the buy out loan was less than my lease, and I knew I was keeping the car. It did not bother me much, especially because I did ask around (including going to a Nissan dealer). When they compromised by removing $200 from the A.M.O., I agreed to the deal. Which means I paid an additional and unexpected $495, but I got to keep a car I love.
I understand your frustration, because it made me mad too, and it took an additional 2 hours to resolve the problem. In the end, my monthly payment on the buy out loan was less than my lease, and I knew I was keeping the car. It did not bother me much, especially because I did ask around (including going to a Nissan dealer). When they compromised by removing $200 from the A.M.O., I agreed to the deal. Which means I paid an additional and unexpected $495, but I got to keep a car I love.
#15
I am pursuing the same possible move in July. Only have 23k on the clock, Infiniti just replaced my Tranny under warranty. The new Tranny eliminated a hard shift into 3rd gear that was originally fixed last year with a new Valve Body installed, but deteriorated into this poor shift into 3rd gear ONLY. Anyway, for your deal did you get or buy an extended Warranty with your Buyout at lease end?
Although the warranty is an important thing, I am making a leap of faith that the car will perform tomorrow as it does today. Scanning through these forums reveals that there are not too many serious problems with our cars when they get older. So I do not expect any problems.