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Posted: 2/22/2017 11:13:56 AM EDT
[#1]
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I think the 14k elephant is already dealt with. Unless the dealer can recoup the money from Acura - they're boned. If the funds cleared at Acura, now that the car is returned, if the financing deal doesn't go through on the new truck there's no legal document tying the OP to the 14k payment. The truck deal was contingent on financing which never came through. The dealer prematurely cut the check, and that's on them. OP could return the truck and walk. He'd likely get served with a suit from the dealer shortly after, which he would probably win, but it would be a pain in the ass. In the end, I have a feeling the dealer will realize the best option is to eat the cost to get the original deal through, and get this over with. The response to a lawsuit for the $14k will likely be a counter suit for the return of the car, or the equivalent value, plus attorney fees. Everyone loses is also an option. |
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Posted: 2/22/2017 11:15:25 AM EDT
[#2]
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It's funny you mention that. The Chevy dealer here is or at least was bad too. One of my friends went to work there as a salesman and left after two weeks because of how shady it was. Yeah it's weird. I mean most dealerships in general don't have the most stellar reputation in the world but the Chevy ones just seem even shadier. |
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Posted: 2/22/2017 11:29:15 AM EDT
[#3]
Is there a reason the dealer can't or won't resubmit the paperwork to gmf with the correct date?
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Posted: 2/22/2017 11:34:28 AM EDT
[#4]
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Is there a reason the dealer can't or won't resubmit the paperwork to gmf with the correct date? GMF has a cap of 125% over MSRP that they will allow for negative equity and the customer must have exceptional credit to get approved. |
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Posted: 2/22/2017 11:37:49 AM EDT
[#5]
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Dealer should also realize for every positive experience, a customer might tell a friend or two. For every negative experience, they're most likely going to tell a bunch of people about it. Or start a 30 page thread |
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Posted: 2/22/2017 11:43:01 AM EDT
[#6]
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GMF has a cap of 125% over MSRP that they will allow for negative equity and the customer must have exceptional credit to get approved. how much over is the op if there are over 11k worth of rebates? 3k + tax title and license? |
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Posted: 2/22/2017 11:44:03 AM EDT
[#7]
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Is there a reason the dealer can't or won't resubmit the paperwork to gmf with the correct date? What I don't understand is a $250 a month jump. That is a big difference. What is that, like 12-15%? I think OP screwed up. He started out all FBHO style and went straight to General Sherman. He needed to keep his cool. He almost out car dealed the car dealer. Now it is a crap shoot. 
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Posted: 2/22/2017 11:49:41 AM EDT
[#8]
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Good question. I do see some error in the way the dealer handled the transaction, however they did show good faith and intent by paying out the lease on the Acura. They looked at the lessors credit on paper and figured it was GTG and released the truck. Submitted the contract and had "pending review" come back from the first lending institution they sent it off to. That's when they will submit the contract to several lending institutions and get more " pending review" messages back and finally after all reviews they get " declined ". When a "decline" comes back there is always a written reason why the contract was declined. There are reasons for declined responses and the main 2 are debt service ratio and poor credit history, employment history and income tax discrepancies also come in to play but that should be seen on the credit app before it is submitted. Sometimes a credit challenge will slip through and get delivered and after the fact some new information will come out and the banks will decline unless conditions are met, such as more money down required and certain bills that the customer is in arrears must be paid out, the customer has lost their job and failed to disclose. You would be amazed at what rises to the surface once multiple declines start showing up. We immediately contact the customer that has taken delivery and get them into the dealership as soon as possible and try to get them bought through sub-prime financing if possible. If the customer refuses we automatically reposess, nobody wins at that point. If the customer does not want to give the vehicle back and tells us to pound sand, we declare the vehicle stolen and have the police handle the matter as such and we take the customer to court to recover losses. It's up to the customer how they deal with the theft charge and fraudulently obtaining property from the dealership. It's business and it DOES happen. I hope my explanation enlightens you an those who are interested. |
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Posted: 2/22/2017 11:49:46 AM EDT
[#9]
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It sounds like they can't get it done at the agreed upon terms. What I don't understand is a $250 a month jump. That is a big difference. What is that, like 12-15%? I think OP screwed up. He started out all FBHO style and went straight to General Sherman. He needed to keep his cool. He almost out car dealed the car dealer. Now it is a crap shoot. https://i.ytimg.com/vi/-_IlNbsILLE/maxresdefault.jpg Quote HistoryQuoted:
Quoted:
Is there a reason the dealer can't or won't resubmit the paperwork to gmf with the correct date? What I don't understand is a $250 a month jump. That is a big difference. What is that, like 12-15%? I think OP screwed up. He started out all FBHO style and went straight to General Sherman. He needed to keep his cool. He almost out car dealed the car dealer. Now it is a crap shoot. https://i.ytimg.com/vi/-_IlNbsILLE/maxresdefault.jpg Cool, calm decision making hasn't exactly been the theme of the thread. |
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Posted: 2/22/2017 11:55:21 AM EDT
[#10]
Sorry OP, you stepped in crap by telling they you had an attorney. In my job, I also cannot speak with someone by law if they tell me they have legal representation. I think that was a little premature. As I stated before, get on the phone and beg Acura to find your car to get out of this mess. Tell them the check isn't going to clear and you need their help.
Offer to buy a ridgeline 
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Posted: 2/22/2017 12:03:11 PM EDT
[#11]
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how much over is the op if there are over 11k worth of rebates? 3k + tax title and license? If the dealer had really wanted to make good and fix the mistake, the question could have been what is dealer invoice +$14k -$1k down + ttl Don't see them wanting to do that now. |
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Posted: 2/22/2017 12:03:43 PM EDT
[#12]
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On the contrary, paying out the lease is what caused all this shit-fest. It now blocks the simple "undo" which would be possible if they hadn't done that like most other dealers. I'd assume that a vast majority of legitimate dealers DO NOT pay off something like that BEFORE financing goes through. Why do you ask? Because of this fucking issue right here that the OP is dealing with. The 2017 Truck isn't the issue. The 2016 loan submission isn't the issue. The failed financing isn't the issue. The only actual issue here is that they can't return the OP's car if they try to dissolve this deal. That's the only issue that these 25+ pages have come down to. Everything else we've discussed can be fixed. Returning OPs car cannot. I wouldn't even focus on anything else other than how will the $14K elephant in the corner be dealt with. OFMFT.... |
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Posted: 2/22/2017 12:09:25 PM EDT
[#13]
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Yeah it's weird. I mean most dealerships in general don't have the most stellar reputation in the world but the Chevy ones just seem even shadier. Depends what dealership you are at. Not all of them are terrible. 1st Chevy dealership I was at would not budge at all on used truck prices - I was looking at 2014-2016 Chevy Silverados crew cabs. Was getting to know the market and what I wanted to spend. They were listing there used ones for only 1-3k less than a brand new ones that were discounted with incentives. Found something close to what I wanted within a 2 hour drive and gave the other local Chevy Dealership a call - the other one lost my business after not negotiating at all. Told them I wanted to buy a new 2017 truck - the VIN# is ________________. I want to pay less than this comparable truck with the Z71package - sent him the link of the comparable truck (the truck i was looking at was the allstar edition minus the z71 package). I knew in theory they should be able to beat that price. It was the lowest I found advertised anywhere. Guy told me he would call me back - came back with an offer that did not beat the other dealership. I thanked him for his time and told him I would be driving 2 hours tomorrow to buy a truck. He started talking to keep me on the phone and said he would call me back. He came back with an offer that beat the other dealership and I bought that truck 3 hours later. The only car buying experience that I didn't feel like I got my ass handed to me. I'm hoping the next time I have to buy a car, I can negotiate over the phone. Took all of the stress out of it. |
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Posted: 2/22/2017 12:11:50 PM EDT
[#14]
Quote HistoryQuoted:
It sounds like they can't get it done at the agreed upon terms. What I don't understand is a $250 a month jump. That is a big difference. What is that, like 12-15%? I think OP screwed up. He started out all FBHO style and went straight to General Sherman. He needed to keep his cool. He almost out car dealed the car dealer. Now it is a crap shoot. The only way I've been able to get to an extra $250/mo is that the Acura $ was left out to start with by accident. $14k outstanding on the lease and if the new car is a 60/mo note then you are getting back to that 250/mo extra area. No way you get there from the dealer winging #'s at 4% vs approval at 8% or whatever was mentioned in the early pages of this thread. |
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Posted: 2/22/2017 12:22:41 PM EDT
[#15]
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It sounds like they can't get it done at the agreed upon terms. snip How do they know if they haven't submitted the correct numbers to gmf? |
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Posted: 2/22/2017 12:22:53 PM EDT
[#16]
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how much over is the op if there are over 11k worth of rebates? 3k + tax title and license? I would have to look at the deal to see how it was structured. Dealing with GMF means they already know what rebates and incentives will be applied and they may or may not work with the finance dept depending on the customer's credit history. |
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Posted: 2/22/2017 12:26:02 PM EDT
[#17]
I spoke with GMF this morning and was told the 17 was not resubmitted, but the actual 16 was. They said the 16 is approved, but the dealer would have to go over the details with me. I tried that last night and didn't get beyond "we can't move forward until you come in and sign for the 16".
I'm not signing anything else until you show me the approval and I know I'm not leaving with another "loaner" truck. |
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Posted: 2/22/2017 12:28:12 PM EDT
[#18]
Tell them to run it back through the 17.
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Posted: 2/22/2017 12:29:14 PM EDT
[#19]
Quote HistoryQuoted:
I spoke with GMF this morning and was told the 17 was not resubmitted, but the actual 16 was. They said the 16 is approved, but the dealer would have to go over the details with me. I tried that last night and didn't get beyond "we can't move forward until you come in and sign for the 16". I'm not signing anything else until you show me the approval and I know I'm not leaving with another "loaner" truck. LOL i bet you end up owning 2 trucks and payment when its all over with. I would check that the old contract is void before signing a new one. |
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Posted: 2/22/2017 12:29:54 PM EDT
[#20]
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The only way I've been able to get to an extra $250/mo is that the Acura $ was left out to start with by accident. $14k outstanding on the lease and if the new car is a 60/mo note then you are getting back to that 250/mo extra area. No way you get there from the dealer winging #'s at 4% vs approval at 8% or whatever was mentioned in the early pages of this thread. The lender may also have shortened the term on the loan. As an example, suppose the truck + neg equity + tax/title/fees/etc was around $60k and the dealer shopped it at 1% for 84 months. Lender may have come back with nope the buyer's credit rating won't support it but we can offer him 6% for 72 months. |
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Posted: 2/22/2017 12:41:35 PM EDT
[#21]
Quote HistoryQuoted:
I spoke with GMF this morning and was told the 17 was not resubmitted, but the actual 16 was. They said the 16 is approved, but the dealer would have to go over the details with me. I tried that last night and didn't get beyond "we can't move forward until you come in and sign for the 16". I'm not signing anything else until you show me the approval and I know I'm not leaving with another "loaner" truck. so go down there and see what they want. You don't have to sign anything. It will get the negotiations going again as long as you do not show up with a lawyer or mention one. Stick to your guns another day if you still want the 17 truck. You do have leverage with the lease problem. Question them on how they will give your car back if they keep trying to sell you the 16, but indicate you will still take the 17 with the original deal. Just speak the truth out loud. It is that easy. |
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Posted: 2/22/2017 12:57:00 PM EDT
[#22]
Quote HistoryQuoted:
I spoke with GMF this morning and was told the 17 was not resubmitted, but the actual 16 was. They said the 16 is approved, but the dealer would have to go over the details with me. I tried that last night and didn't get beyond "we can't move forward until you come in and sign for the 16". I'm not signing anything else until you show me the approval and I know I'm not leaving with another "loaner" truck. You have had an insider confirm that the numbers are right. The deal they put together was profitable for the store. Do you think that they had no idea that you would have trouble getting the financing with these numbers? They are most likely out $14,000 if they can't hold this deal together. You have all of the cards. Time is on your side. It is not scorched earth time. It is get the deal done time. Make them come to you. Have them drop off any paperwork for your review. Make sure you are damn comfortable with terms going forward. |
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Posted: 2/22/2017 1:24:44 PM EDT
[#23]
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I've seen the sub-prime scam first hand. The dealer I bought my first new truck at agreed to a reasonable rate with Toyota Motor Credit as the lender. They let me take the truck before the loan was approved. I called everyday for a couple weeks asking if the paperwork was done and they kept delaying. When I finally went in to sign the papers I was told "you didn't hear this from us but TMCC didn't finance you due to your age, but hey we've got this great 21% loan instead". I told them to fuck off and tossed the keys to the manager. After a couple hours of fighting they somehow managed to get the original terms approved. At that point I fought to get the price dropped for my trouble. I knew they didn't want the truck back since it had 800 miles on it. I don't get why some dealers act like this. I've bought many cars since that time but never once considered buying from them. They do that because a half dozen people a week probably go ahead and sign the shitty deal. The dealership then gets some pretty hefty kickbacks on the loan. |
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Posted: 2/22/2017 1:44:47 PM EDT
[#24]
Whenever they call you, tell them that you're busy, and have them send the paperwork over. Tell them you'll get to it. Give paperwork to your lawyer.
Buy time. Let your lawyer you're paying with the $650/mo savings tell you what to do. Go about your life. This will get figured out, make sure you're protected through your lawyer. |
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Posted: 2/22/2017 1:49:14 PM EDT
[#25]
Might I ask what your credit score is OP? Sounds like you're high 600s, so you're borderline tiers, to make that much of an interest jump.
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Posted: 2/22/2017 1:55:05 PM EDT
[#26]
I would not sign for a 2016 OP when GMF is telling you that they never submitted the application for the 2017 correctly. If they submit the 2017 to GMF and it comes back as declined then that is different, but since they have lied to you before I would want proof. The one year difference may not seem like a lot but its at least a few thousand dollars and that should be reflected in the selling price. Just for your own info, go to kbb.com and look up the trade in price for a 2016 vs 2017 and see how much money your giving away. You really are in a strong position, but you need to decide what you want before you go in there and then hold to your guns. Do not get emotional and if your not happy with the deal be prepared to thank them, tell them you need to give it some thought, and then walk out. I would Uber there so you can leave at any time. If these guys are old school they have many tricks up there sleeves to keep you on site. Tell them what you want and then shut up. The more you talk the more you lose. Good luck.
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Posted: 2/22/2017 2:03:49 PM EDT
[#27]
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so go down there and see what they want. You don't have to sign anything. It will get the negotiations going again as long as you do not show up with a lawyer or mention one. Stick to your guns another day if you still want the 17 truck. You do have leverage with the lease problem. Question them on how they will give your car back if they keep trying to sell you the 16, but indicate you will still take the 17 with the original deal. Just speak the truth out loud. It is that easy. Quote HistoryQuoted:
Quoted:
I spoke with GMF this morning and was told the 17 was not resubmitted, but the actual 16 was. They said the 16 is approved, but the dealer would have to go over the details with me. I tried that last night and didn't get beyond "we can't move forward until you come in and sign for the 16". I'm not signing anything else until you show me the approval and I know I'm not leaving with another "loaner" truck. so go down there and see what they want. You don't have to sign anything. It will get the negotiations going again as long as you do not show up with a lawyer or mention one. Stick to your guns another day if you still want the 17 truck. You do have leverage with the lease problem. Question them on how they will give your car back if they keep trying to sell you the 16, but indicate you will still take the 17 with the original deal. Just speak the truth out loud. It is that easy. Why should OP waste his time? Like the poster above mentioned, they can send over any "new" paperwork for him (or his attorney) to review. The dealership will probably do everything they can to get OP to deal over the phone or in person so there's no record / paper trail. |
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Posted: 2/22/2017 2:04:38 PM EDT
[#28]
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I think the 14k elephant is already dealt with. Unless the dealer can recoup the money from Acura - they're boned. If the funds cleared at Acura, now that the car is returned, if the financing deal doesn't go through on the new truck there's no legal document tying the OP to the 14k payment. The truck deal was contingent on financing which never came through. The dealer prematurely cut the check, and that's on them. OP could return the truck and walk. He'd likely get served with a suit from the dealer shortly after, which he would probably win, but it would be a pain in the ass. In the end, I have a feeling the dealer will realize the best option is to eat the cost to get the original deal through, and get this over with. Quote HistoryQuoted:
Quoted:
On the contrary, paying out the lease is what caused all this shit-fest. It now blocks the simple "undo" which would be possible if they hadn't done that like most other dealers. I'd assume that a vast majority of legitimate dealers DO NOT pay off something like that BEFORE financing goes through. Why do you ask? Because of this fucking issue right here that the OP is dealing with. The 2017 Truck isn't the issue. The 2016 loan submission isn't the issue. The failed financing isn't the issue. The only actual issue here is that they can't return the OP's car if they try to dissolve this deal. That's the only issue that these 25+ pages have come down to. Everything else we've discussed can be fixed. Returning OPs car cannot. I wouldn't even focus on anything else other than how will the $14K elephant in the corner be dealt with. I think the 14k elephant is already dealt with. Unless the dealer can recoup the money from Acura - they're boned. If the funds cleared at Acura, now that the car is returned, if the financing deal doesn't go through on the new truck there's no legal document tying the OP to the 14k payment. The truck deal was contingent on financing which never came through. The dealer prematurely cut the check, and that's on them. OP could return the truck and walk. He'd likely get served with a suit from the dealer shortly after, which he would probably win, but it would be a pain in the ass. In the end, I have a feeling the dealer will realize the best option is to eat the cost to get the original deal through, and get this over with. Well technically, the $14k elephant hasn't been dealt with. Until the OP gets a competent lawyer who tells him that he can just walk, I don't think he should. OP... Your strategy now should be finding out how to walk the cleanest possible way. It could save you $14k and make the next truck you buy in a couple of weeks that much cheaper. In the end, you are fucking over a dealer who tried to fuck you over but failed. I give this a neutral rating on ethics. On one end you fuck them out of $14k, on the other, they tried to sift arm you into a worse deal while lying. Let your conscious be free from this burden. What goes around, comes around. The most important thing right now is having a good lawyer tell you that you can walk Scott free. Do not let any arfcommer tell you this. Make sure it's a good local lawyer. Focus on the Acura, forget about the truck for now. |
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Posted: 2/22/2017 2:06:02 PM EDT
[#29]
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I would Uber there so you can leave at any time. If these guys are old school they have many tricks up there sleeves to keep you on site. |
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Posted: 2/22/2017 2:13:16 PM EDT
[#30]
OP, you did the right thing by lawyering up. Now give them your lawyers contact info and do nothing else without first talking to your lawyer.
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Posted: 2/22/2017 2:24:59 PM EDT
[#31]
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Yeah that's not exactly how it works. If you want to ditch a leased car you do not hand over the car plus a check for the remaining payments. You can have equity in the car depending on the car's currently value compared to the lease balance + residual value. Wrong, that's exactly how it works. If you lease a vehicle for 39 months you have to make 39 payments. You are on the hook for all those payments whether you drive the car, put it up on blocks in your garage, or turn it in early. If you no longer want/need the car it is in your best interest to turn it in early because you no longer have to carry insurance on it & you are no longer responsible for damage once the dealer takes possession. |
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Posted: 2/22/2017 2:28:55 PM EDT
[#32]
I don't understand why you would want to continue to buy a car through them?
get a ride down there, tell them you do not agree to the new terms, only what was in the original contract. Get a signed voided contract notification, ask for your Acura back so you can walk away. If they cannot provide the Acura, and it is confirmed that is closed out and paid for, tell them you will have their truck returned within the hour and all keys. Return the truck, tell them thank you for attempting to do business. And make a point to go shake hands with the sales manager and owner and give them a big smile and a wink, just so they know first hand how much you enjoyed fucking them 14,000 times. You should have done this days ago when you received confirmation from Acura that everything is closed out. I wouldn't care if they gave me a truck at half off, i'm not buying it. I wouldn't even buy a fucking gumball at the door side vending machine. |
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Posted: 2/22/2017 2:41:25 PM EDT
[#33]
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I don't understand why you would want to continue to buy a car through them? get a ride down there, tell them you do not agree to the new terms, only what was in the original contract. Get a signed voided contract notification, ask for your Acura back so you can walk away. If they cannot provide the Acura, and it is confirmed that is closed out and paid for, tell them you will have their truck returned within the hour and all keys. Return the truck, tell them thank you for attempting to do business. And make a point to go shake hands with the sales manager and owner and give them a big smile and a wink, just so they know first hand how much you enjoyed fucking them 14,000 times. You should have done this days ago when you received confirmation from Acura that everything is closed out. I wouldn't care if they gave me a truck at half off, i'm not buying it. I wouldn't even buy a fucking gumball at the door side vending machine. This guy gets it. |
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Posted: 2/22/2017 2:42:35 PM EDT
[#34]
I'm learning a lot from this, the main thing being is that a dealership is about the last place I want go for anything. Late model used from a private seller from now on. It's not that you can't get ripped off, if you do it'll be a damn site easier though. When a car sale goes smoothly at one of those places the amount of bullshit the consumer endures is still ridiculous. How in hell come they can't just stick a price on the shit and sell it or not for that? Why should I have to worry if the guy down the road got the same piece of over rated plastic for 5% less? Why in the hell is financing such a hose job? Are you going to lend me the price of this bullshit at a given rate or not? It doesn't take a week to run a credit report these days. Should be able to make their mind if they are going to loan it to me or not by the time I make up my mind what color I want.
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Posted: 2/22/2017 2:46:08 PM EDT
[#35]
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I spoke with GMF this morning and was told the 17 was not resubmitted, but the actual 16 was. They said the 16 is approved, but the dealer would have to go over the details with me. I tried that last night and didn't get beyond "we can't move forward until you come in and sign for the 16". I'm not signing anything else until you show me the approval and I know I'm not leaving with another "loaner" truck. Except you're not interested in the 2016, so tell them to run the 2017. Or tell them you'll pay $20K for the new 2015 that these idiots still have on the lot (according to their website)... |
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Posted: 2/22/2017 2:48:22 PM EDT
[#36]
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OP, you did the right thing by lawyering up. Now give them your lawyers contact info and do nothing else without first talking to your lawyer. IIRC he didn't lawyer up he talked to a lawyer no mention of paying a fee or retainer so OP is basically bluffing |
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Posted: 2/22/2017 2:49:39 PM EDT
[#37]
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I don't understand why you would want to continue to buy a car through them? get a ride down there, tell them you do not agree to the new terms, only what was in the original contract. Get a signed voided contract notification, ask for your Acura back so you can walk away. If they cannot provide the Acura, and it is confirmed that is closed out and paid for, tell them you will have their truck returned within the hour and all keys. Return the truck, tell them thank you for attempting to do business. And make a point to go shake hands with the sales manager and owner and give them a big smile and a wink, just so they know first hand how much you enjoyed fucking them 14,000 times. You should have done this days ago when you received confirmation from Acura that everything is closed out. I wouldn't care if they gave me a truck at half off, i'm not buying it. I wouldn't even buy a fucking gumball at the door side vending machine. Their next step would be to sue OP for $14K & run up his legal bills... |
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Posted: 2/22/2017 2:53:17 PM EDT
[#38]
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Their next step would be to sue OP for $14K & run up his legal bills... |
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Posted: 2/22/2017 3:01:53 PM EDT
[#39]
for what? paying off a lease that was contingent on a sales contract that fell through?
I'm guessing people at that dealership have learned some hard lessons on following processes, procedures, and the consequences of not following them. I would cherish the opportunity to absolutely fuck over a shit hole place like this after they attempted to deceive me. And I would routinely remind them on social media, so that any prospective customers see what happens. and then hopefully at some point in my life time, I would get to witness them having a "going out of business" sale. Nothing would make me wake up with a smile every morning more than that.
How neat is that?!? 
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Posted: 2/22/2017 3:01:57 PM EDT
[#40]
Quote HistoryQuoted:
I don't understand why you would want to continue to buy a car through them? get a ride down there, tell them you do not agree to the new terms, only what was in the original contract. Get a signed voided contract notification, ask for your Acura back so you can walk away. If they cannot provide the Acura, and it is confirmed that is closed out and paid for, tell them you will have their truck returned within the hour and all keys. Return the truck, tell them thank you for attempting to do business. And make a point to go shake hands with the sales manager and owner and give them a big smile and a wink, just so they know first hand how much you enjoyed fucking them 14,000 times. You should have done this days ago when you received confirmation from Acura that everything is closed out. I wouldn't care if they gave me a truck at half off, i'm not buying it. I wouldn't even buy a fucking gumball at the door side vending machine. This.. Like I said earlier, go down there and find the owner/general manager and get it resolved... Stop talking to the dipshit employess |
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Posted: 2/22/2017 3:02:38 PM EDT
[#41]
Quote HistoryQuoted:
I've seen the sub-prime scam first hand. The dealer I bought my first new truck at agreed to a reasonable rate with Toyota Motor Credit as the lender. They let me take the truck before the loan was approved. I called everyday for a couple weeks asking if the paperwork was done and they kept delaying. When I finally went in to sign the papers I was told "you didn't hear this from us but TMCC didn't finance you due to your age, but hey we've got this great 21% loan instead". I told them to fuck off and tossed the keys to the manager. After a couple hours of fighting they somehow managed to get the original terms approved. At that point I fought to get the price dropped for my trouble. I knew they didn't want the truck back since it had 800 miles on it. I don't get why some dealers act like this. I've bought many cars since that time but never once considered buying from them. The reason the original loan got approved is the dealer gave the bank some money to lower the interest rate. |
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Posted: 2/22/2017 3:04:03 PM EDT
[#42]
Quote HistoryQuoted:
Wrong, that's exactly how it works. If you lease a vehicle for 39 months you have to make 39 payments. You are on the hook for all those payments whether you drive the car, put it up on blocks in your garage, or turn it in early. If you no longer want/need the car it is in your best interest to turn it in early because you no longer have to carry insurance on it & you are no longer responsible for damage once the dealer takes possession. Quote HistoryQuoted:
Quoted:
Yeah that's not exactly how it works. If you want to ditch a leased car you do not hand over the car plus a check for the remaining payments. You can have equity in the car depending on the car's currently value compared to the lease balance + residual value. Wrong, that's exactly how it works. If you lease a vehicle for 39 months you have to make 39 payments. You are on the hook for all those payments whether you drive the car, put it up on blocks in your garage, or turn it in early. If you no longer want/need the car it is in your best interest to turn it in early because you no longer have to carry insurance on it & you are no longer responsible for damage once the dealer takes possession. Wrong. jonathan2421 is right. This has confused me from the get go. From prior posts, it would appear that the Acura was worth less than the lease end value, hence making the remaining payments was the cheapest way out. The OP apparently rolled a prior mistake into the Acura lease, so he was upside down the day he drove it off the lot. You absolutely can "trade" a leased vehicle...ACV - LEV/Residual + remaining payments (any disposition fees, etc.) = positive or negative equity. It would appear in OP case the negative equity was greater than the remaining payments. I still find it odd that OP paid/will pay/is paying for 21 months of use he is not realizing on the Acura. Should have just kept the Acura and bought A truck. IMHO |
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Posted: 2/22/2017 3:06:22 PM EDT
[#43]
Gee what a mess.
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Posted: 2/22/2017 3:07:28 PM EDT
[#44]
Quote HistoryQuoted:
The response to a lawsuit for the $14k will likely be a counter suit for the return of the car, or the equivalent value, plus attorney fees. In general, courts can only award money damages, except in cases of specific performance for unique items where money damages isn't an appropriate remedy. In other words, you can't sue for return of the car, all you can do is sue for your damages and since the car was underwater, there are no damages to OP with respect to the Acura. Additionally, you can only sue for attorney's fees when there is some statute that permits it or if there is a suit on a contract that has an attorney's fees provision. Most likely, the dealership would sue for their $14k back under a theory of unjust enrichment rather than breach of contract as the financing fell through, thus no contract. As unjust enrichment is not a contract and I doubt there is any law that allows for attorney's fees in this sort of matter in IL, then attorney's fees can't be awarded. |
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Posted: 2/22/2017 3:08:35 PM EDT
[#45]
I don't understand why the OP won't just go down to the dealer and finish this deal. He pretty much has them by the balls. Just quit threatening to have your attorney make your car deals for you and they will more than likely get you out of there with a cheap 2017.
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Posted: 2/22/2017 3:15:12 PM EDT
[#46]
27 pages?
Has anyone suggested the OP bang the sales managers wife yet? |
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Posted: 2/22/2017 3:18:38 PM EDT
[#47]
Quote HistoryQuoted:
27 pages? Has anyone suggested the OP bang the sales managers wife yet? It was suggested that OP rub aloe on the owners sunburn after he returns from his vacation. |
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Posted: 2/22/2017 3:22:26 PM EDT
[#48]
Quote HistoryQuoted:
Has anyone suggested the OP bang the sales managers wife yet? Sales manager isn't married but does have a hot fiance.... |
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Posted: 2/22/2017 3:23:45 PM EDT
[#49]
Quote HistoryQuoted:
IIRC he didn't lawyer up he talked to a lawyer no mention of paying a fee or retainer so OP is basically bluffing Quote HistoryQuoted:
<strong>Quoted:</strong>
OP, you did the right thing by lawyering up. Now give them your lawyers contact info and do nothing else without first talking to your lawyer. IIRC he didn't lawyer up he talked to a lawyer no mention of paying a fee or retainer so OP is basically bluffing Good point, if OP had the retainer available to throw at an attorney he wouldn't be $14k upside down on his trade-in. |
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Posted: 2/22/2017 3:26:02 PM EDT
[#50]
If they could get you into a new 2016 for the same why wouldn't you take that? You still getting a new truck.
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