What do you think of this lease deal?
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What do you think of this lease deal?
I live in New York City but registering the car in PA where I'm from and where my folks live to save on insurance. I just moved to NYC eight weeks ago so it is a legit move in my opinion.
Was looking for a white RSX Type-S ... unreal how hard they are to come by. I say this because there are at least 10 dealers within 25 miles of New York City and none had one in white ... some had no Type S's at all and the ones that did had only one or two Type S's ... and not in white.
I will follow up on this post with the name of the dealer I settled on shortly ... I signed the lease but am waiting for my co-signer to sign it and that should happen any day now.
The dealer I settled on had NO Type-S's in stock so I was kind of surprised that they were able to get a hold of one in the color I wanted and still offer what I think was a not too terrible price ... let me know what you all think of this deal ... be honest!
Looking to lease for 36 mo. and 12k/yr. Wanted to put a good amount down for a lower monthly payment so my terms were simple ... $4,000 down - that must include acquisition fee, deposit, title, registration, first month's payment, etc. and then let's see what dealers offer as far as the monthly payment (I wanted tax included -- read: NO HIDDEN FEES ... or at least I hoped ... read on....)
The two dealers in my hometown in PA quoted me around $268 and $271 per month, tax included in those prices. The one that had a white Type S coming next month was as firm as could be ... said $271 (assuming tier 1 credit approval) was first and last offer because they were getting only four more Type S's rest of the year and sales manager wouldn't let any of them go out the door for anything but MSRP.
I settled on a dealer in the NY/NJ area that offered a monthly payment of $225/month which includes tax. Not sure what sticker price that lease is based on ... a good amount off MSRP but not a ton because the lease rates on RSX's are pretty good this summer. I think $265-$275 would be around sticker price but I could be wrong.
So I signed a buyer's order of $225 per month and put down a deposit of $500 in order to get them to find one in white.
A week later I come to take delivery on a white RSX Type-S for $225 per month with $4,000 down (well really about $2795 down and another $1,200 in acquisition fee, deposit, first month's, etc.).
Two problems. Number one, finance manager is a total scumbag ... totally reneges on the $225 per month terms that salesman and sales manager approved and had me sign off on. Finance manager comes out with new figure of $255.95 and attributes $30+ increase to his "claim" that I qualified for tier 2 and not tier 1 credit ... this despite having no adverse credit and having a co-signer with outstanding credit. Also attributes increase to PA's 10% car lease tax versus NJ's 7%.
The finance manager was one of the shadiest smooth talkers I have come across and the sudden new lease rate was as suspect as could be ... but my personal inspection of the car AS he was putting together the lease discovered a major issue with that prevented me from taking delivery on the car. This turned out to be quite a blessing in disguise.
The dealer I was going through clips their front license plates on to the lower grill/intake of the RSX but the dealer they got this RSX from had drilled right through the front bumper. PA only has rear plates so this move removed any and all desire I had to take delivery on this vehicle. Dealer offered to have a body shop plug, patch, paint, etc. the drill hole but I said no deal unless they get me a new bumper.
Sales manager thought he was about to save the sale. "I have another white RSX coming in a few weeks ... take the car today and we'll swap the bumper of your car with the white base RSX that is coming next month."
Luckily I was aware of the fact that the base RSX is a different shade white than the type S. I think this was an honest mistake by the sales manager because his personality, attitude, everything was miles away from that of the finance manager I so disparagingly described earlier.
So I walked away from the deal ... as disappointed about the "new" lease rate as the front bumper drilling. Eight days later ... VOILA! They've got a new RSX Type S in white for me. Given the shortage of Type S's in the area I suspected that they just repaired the original but then I figured if I couldn't tell that it had been repaired what difference does it make if this was a new one or a perfectly repaired original one. I never even got to take note of the original's VIN so I'll probably never know.
Came back and salesman claimed he sold the RSX I wouldn't take (keep in mind NY and NJ both have front and rear plates so this would be a non existent problem for virtually any other customer) for $500 over MSRP. The "new" white Type S looked fine to me ... again, if I couldn't tell what's the difference. This time the shady finance manager was off so I had a different finance manager. The original finance manager never actually put together the lease so this one had to start from scratch ... all he had to work with was the buyer's order I signed for $225.
So first thing he does is check my credit approval. It's me, the salesman and the new finance manager in finance manager's office. The salesman was on edge ... he stood the entire time while both the finance manager and I were seated working on the deal ... it was awkward and he seemed really nervous and uncomfortable as soon as the finance manager revealed that he was basically starting from scratch on the lease.
So the finance manager informs me I was tier one approved and NOT tier two like the shadeball other finance manager originally claimed. The salesman tried to revert back to the $255.95 quote but the finance manager was ... gasp ... honest and was like "well you put in a buy order for $225 so we are obligated to honor that." Only problem with the $225 was that this was calculated with 7% NJ sales tax ... PA actually taxes leases at 10% of lease payments. So finance manager plugged in whatever price was necessary to get the lease down to $225 with 7% (a couple hundred off MSRP) and then changed tax to 10%. Final price with PA tax ... $236.89 per month.
I was happy with this deal since the $225 really was calculated without the PA sales tax. I could have pushed and pushed for the $225 but I really doubt they would have honored this since the tax rate really is different for a PA lease and they are a NJ/NY dealer used to doing NJ and NY tax rates. I guess I could have argued that it was their responsibility to check PA tax rates since from the first minute I told salesman that this was a PA registration and lease. I know the finance manager did say they were obligated to honor the $225 (but add higher tax) but it was a buy order, not a lease and I was just happy about the extra $20 a month I just saved by the screwball who happened to be off that day.
Add the fact that the salesman seemed real disappointed (head down, real quiet) once I was about to sign stuff gave me the greenlight that $236.89 would be a fine price to pay. So I signed the lease, put down the $4,000 and they overnighted it to my co-signer ... will take delivery on the car this coming week.
Any thoughts??
Was looking for a white RSX Type-S ... unreal how hard they are to come by. I say this because there are at least 10 dealers within 25 miles of New York City and none had one in white ... some had no Type S's at all and the ones that did had only one or two Type S's ... and not in white.
I will follow up on this post with the name of the dealer I settled on shortly ... I signed the lease but am waiting for my co-signer to sign it and that should happen any day now.
The dealer I settled on had NO Type-S's in stock so I was kind of surprised that they were able to get a hold of one in the color I wanted and still offer what I think was a not too terrible price ... let me know what you all think of this deal ... be honest!
Looking to lease for 36 mo. and 12k/yr. Wanted to put a good amount down for a lower monthly payment so my terms were simple ... $4,000 down - that must include acquisition fee, deposit, title, registration, first month's payment, etc. and then let's see what dealers offer as far as the monthly payment (I wanted tax included -- read: NO HIDDEN FEES ... or at least I hoped ... read on....)
The two dealers in my hometown in PA quoted me around $268 and $271 per month, tax included in those prices. The one that had a white Type S coming next month was as firm as could be ... said $271 (assuming tier 1 credit approval) was first and last offer because they were getting only four more Type S's rest of the year and sales manager wouldn't let any of them go out the door for anything but MSRP.
I settled on a dealer in the NY/NJ area that offered a monthly payment of $225/month which includes tax. Not sure what sticker price that lease is based on ... a good amount off MSRP but not a ton because the lease rates on RSX's are pretty good this summer. I think $265-$275 would be around sticker price but I could be wrong.
So I signed a buyer's order of $225 per month and put down a deposit of $500 in order to get them to find one in white.
A week later I come to take delivery on a white RSX Type-S for $225 per month with $4,000 down (well really about $2795 down and another $1,200 in acquisition fee, deposit, first month's, etc.).
Two problems. Number one, finance manager is a total scumbag ... totally reneges on the $225 per month terms that salesman and sales manager approved and had me sign off on. Finance manager comes out with new figure of $255.95 and attributes $30+ increase to his "claim" that I qualified for tier 2 and not tier 1 credit ... this despite having no adverse credit and having a co-signer with outstanding credit. Also attributes increase to PA's 10% car lease tax versus NJ's 7%.
The finance manager was one of the shadiest smooth talkers I have come across and the sudden new lease rate was as suspect as could be ... but my personal inspection of the car AS he was putting together the lease discovered a major issue with that prevented me from taking delivery on the car. This turned out to be quite a blessing in disguise.
The dealer I was going through clips their front license plates on to the lower grill/intake of the RSX but the dealer they got this RSX from had drilled right through the front bumper. PA only has rear plates so this move removed any and all desire I had to take delivery on this vehicle. Dealer offered to have a body shop plug, patch, paint, etc. the drill hole but I said no deal unless they get me a new bumper.
Sales manager thought he was about to save the sale. "I have another white RSX coming in a few weeks ... take the car today and we'll swap the bumper of your car with the white base RSX that is coming next month."
Luckily I was aware of the fact that the base RSX is a different shade white than the type S. I think this was an honest mistake by the sales manager because his personality, attitude, everything was miles away from that of the finance manager I so disparagingly described earlier.
So I walked away from the deal ... as disappointed about the "new" lease rate as the front bumper drilling. Eight days later ... VOILA! They've got a new RSX Type S in white for me. Given the shortage of Type S's in the area I suspected that they just repaired the original but then I figured if I couldn't tell that it had been repaired what difference does it make if this was a new one or a perfectly repaired original one. I never even got to take note of the original's VIN so I'll probably never know.
Came back and salesman claimed he sold the RSX I wouldn't take (keep in mind NY and NJ both have front and rear plates so this would be a non existent problem for virtually any other customer) for $500 over MSRP. The "new" white Type S looked fine to me ... again, if I couldn't tell what's the difference. This time the shady finance manager was off so I had a different finance manager. The original finance manager never actually put together the lease so this one had to start from scratch ... all he had to work with was the buyer's order I signed for $225.
So first thing he does is check my credit approval. It's me, the salesman and the new finance manager in finance manager's office. The salesman was on edge ... he stood the entire time while both the finance manager and I were seated working on the deal ... it was awkward and he seemed really nervous and uncomfortable as soon as the finance manager revealed that he was basically starting from scratch on the lease.
So the finance manager informs me I was tier one approved and NOT tier two like the shadeball other finance manager originally claimed. The salesman tried to revert back to the $255.95 quote but the finance manager was ... gasp ... honest and was like "well you put in a buy order for $225 so we are obligated to honor that." Only problem with the $225 was that this was calculated with 7% NJ sales tax ... PA actually taxes leases at 10% of lease payments. So finance manager plugged in whatever price was necessary to get the lease down to $225 with 7% (a couple hundred off MSRP) and then changed tax to 10%. Final price with PA tax ... $236.89 per month.
I was happy with this deal since the $225 really was calculated without the PA sales tax. I could have pushed and pushed for the $225 but I really doubt they would have honored this since the tax rate really is different for a PA lease and they are a NJ/NY dealer used to doing NJ and NY tax rates. I guess I could have argued that it was their responsibility to check PA tax rates since from the first minute I told salesman that this was a PA registration and lease. I know the finance manager did say they were obligated to honor the $225 (but add higher tax) but it was a buy order, not a lease and I was just happy about the extra $20 a month I just saved by the screwball who happened to be off that day.
Add the fact that the salesman seemed real disappointed (head down, real quiet) once I was about to sign stuff gave me the greenlight that $236.89 would be a fine price to pay. So I signed the lease, put down the $4,000 and they overnighted it to my co-signer ... will take delivery on the car this coming week.
Any thoughts??
Checking it twice
Joined: May 2002
Posts: 13,539
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From: Twixt Hell/Ann Arbor MI
You could have made your story a lot shorter. These people won't read it all.
We never put any money down, just make the first payment which would have made our payment 336 plus 6% sales tax. It's about average as far as deals go.
We never put any money down, just make the first payment which would have made our payment 336 plus 6% sales tax. It's about average as far as deals go.
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Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming ...."WOW! What a ride!!!!!"
LUNCH with THEOLDMAN...On a break for now...
Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming ...."WOW! What a ride!!!!!"
LUNCH with THEOLDMAN...On a break for now...