I THINK I GOT Ripped off !!
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Re:I THINK I GOT Ripped off !!
My parents taught me a very valuable lesson; If you can't buy it with cash, then you don't need it that bad. I know that's kind of hard to say when talking about buying cars, but it is a good policy. We have leased 1 vehicle in our lives and it was not worth it at all. We financed two and ended up paying them both off after the first two months. Every other vehicle we have bought has been cash. To me, financing or leasing just isn't worth it. A bunch of my friends are leasing their cars and it is eating their lunch. BADLY.
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From: Eagle, Idaho
Re:I THINK I GOT Ripped off !!
Racer47 -
In a lease, the taxes AND license fees are calculated into the monthly payment. Its like an impound acct for those of you who have mortages. In Ca, your tax on that truck is at 8 and a half percent, and you know how high the DMV fees are now. That effectively added close to 12,000 to the price of the truck. So the 14,000 quoted earlier by someone who said you overpaid, is correct. But you didn't overpay. Its called tax and license fees. Now, divide that 12,000 by the number of months on the lease, and you'll see it adds about 200.00 a month to the payment. So in reality, your "truck" payment is in the 450-480 a month range, PLUS the tax & lic..so thats how it came out to 600 plus a month. At the end of the day, are you happy with the truck? If so, forget about this stuff and enjoy your purchase. Complaining to anyone out here will get you no where. The first thing they will ask, is did you sign the document? Then they will politely explain how you should of read it first. End of story, enjoy the truck. Don't let a bad buying experience ruin it for you.
In a lease, the taxes AND license fees are calculated into the monthly payment. Its like an impound acct for those of you who have mortages. In Ca, your tax on that truck is at 8 and a half percent, and you know how high the DMV fees are now. That effectively added close to 12,000 to the price of the truck. So the 14,000 quoted earlier by someone who said you overpaid, is correct. But you didn't overpay. Its called tax and license fees. Now, divide that 12,000 by the number of months on the lease, and you'll see it adds about 200.00 a month to the payment. So in reality, your "truck" payment is in the 450-480 a month range, PLUS the tax & lic..so thats how it came out to 600 plus a month. At the end of the day, are you happy with the truck? If so, forget about this stuff and enjoy your purchase. Complaining to anyone out here will get you no where. The first thing they will ask, is did you sign the document? Then they will politely explain how you should of read it first. End of story, enjoy the truck. Don't let a bad buying experience ruin it for you.
Thats MR Hoss to you buddy!
Joined: Jul 2001
Posts: 2,759
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From: Central Texas
Re:I THINK I GOT Ripped off !!
I don't think he's complaining...I think he's asking for help.
The bottom line is though...the papers are signed and you don't have much leg to stand on.
Is he happy with the truck? Well, I know when I was in a similar situation I could NEVER be happy with the truck because I knew what a bad deal it was. Sure...I LOVED the truck...but I felt guilty and stupid every time I drove it because I knew that it wasn't smart for me. Having been there, I feel for the guy. Unfortunately, the only way out is going to either cost lots of money or cost him his good credit.
The bottom line is though...the papers are signed and you don't have much leg to stand on.
Is he happy with the truck? Well, I know when I was in a similar situation I could NEVER be happy with the truck because I knew what a bad deal it was. Sure...I LOVED the truck...but I felt guilty and stupid every time I drove it because I knew that it wasn't smart for me. Having been there, I feel for the guy. Unfortunately, the only way out is going to either cost lots of money or cost him his good credit.
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From: New River, Arizona
Re:I THINK I GOT Ripped off !!
I leased once and at the end had nothing to show for it :'( :'( Basically walked away and had to start over. Dealer took me on the trade value of the lease turnin. Will never lease again unless I can show as a business expenxse.
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From: Eagle, Idaho
Re:I THINK I GOT Ripped off !!
I know he isn't complaining, and I didn't mean to insinuate he was..I was merely trying to point out that he made the purchase, and that he might as well enjoy it because there is really very little he can do to unwind it.
For anyone considering a lease in the future..It is a good way to get into a vehicle you might not otherwise be able to afford..You are basically renting it for the period of the lease..you can't exceed the mileage agreed upon, usually 12-15,000 miles per year..But, you wind up not owning anything, unless you buy the lease out at the end..Avoid "open end" leases at all costs..they leave the value owed at the end of the term "open" to whatever the difference in value is vs. what you have paid. So if the vehicle is worth 10,000 but the dealer says you still owe 14,000, then you are responsible for the difference. Closed end leases are the only way to go..the value at the end is pre determined, so you know exactly what the residual value at the end is. I hope he got a closed end lease. Also known as a "walk away" lease.
For anyone considering a lease in the future..It is a good way to get into a vehicle you might not otherwise be able to afford..You are basically renting it for the period of the lease..you can't exceed the mileage agreed upon, usually 12-15,000 miles per year..But, you wind up not owning anything, unless you buy the lease out at the end..Avoid "open end" leases at all costs..they leave the value owed at the end of the term "open" to whatever the difference in value is vs. what you have paid. So if the vehicle is worth 10,000 but the dealer says you still owe 14,000, then you are responsible for the difference. Closed end leases are the only way to go..the value at the end is pre determined, so you know exactly what the residual value at the end is. I hope he got a closed end lease. Also known as a "walk away" lease.
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Joined: Nov 2001
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From: Austria Europe
Re:I THINK I GOT Ripped off !!
Well, over here, I know this won't be of much help in the USA, you can back out of a lease within short time after the purchase, and refinance- also the rates etc for the lease and the credit financing are quite around the same. Sometimes people get confused over here because with leases the leasing bank also includes liability and comprehensive insurance and the road taxes and some other stuff too- I'd suggest that he should recalculate it with a cool mind and a sharp pencil. What is included in the XXX$ that he has to pay for the lease and what would the situation e like if he tried to switch. Over here we have financial advisory bureaus that will check and calculate alternatives and scenarios for about 100-200 US$. Maybe you can find something the like in the US too. Then, armed with the facts, decide whether to battle or not.
AlpineRAM
AlpineRAM
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Joined: Nov 2002
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From: kansas city
Re:I THINK I GOT Ripped off !!
make it break 5 times with the same problem and LEMON LAW THE SOB's
i bought a 91 galant VR4 turbo 4 cyl, the timing belt slipped 3 times, and the 4th time i went bizzerk on them and got all my money back....
it really didnt take much to get the money back, just was upfront with them, and told them i wanted every red cent i put into the car....
Got the check that day at the ***********....
DONT LEASE!!!
i bought a 91 galant VR4 turbo 4 cyl, the timing belt slipped 3 times, and the 4th time i went bizzerk on them and got all my money back....
it really didnt take much to get the money back, just was upfront with them, and told them i wanted every red cent i put into the car....
Got the check that day at the ***********....
DONT LEASE!!!
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Joined: Jul 2003
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From: The Great White North
Re:I THINK I GOT Ripped off !!
[quote author=patriot pearl blue link=board=10;threadid=22186;start=15#msg208226 date=1068509107]
make it break 5 times with the same problem and LEMON LAW THE SOB's
[/quote]
No kidding.......you could try that....
Im not totally sure what the law is in Calif, but up here, I believe that you have 30 days to back out of a lease (or any contract for that matter)....theres a lot of money on the line here, maybe it would be worth your while and expense to talk to an attorney.
I think the only way leasing make sense is if you need the tax writeoff for a business......Im not even sure it make sense then since they limit your milage....
Good Luck with it....
make it break 5 times with the same problem and LEMON LAW THE SOB's
[/quote]
No kidding.......you could try that....
Im not totally sure what the law is in Calif, but up here, I believe that you have 30 days to back out of a lease (or any contract for that matter)....theres a lot of money on the line here, maybe it would be worth your while and expense to talk to an attorney.
I think the only way leasing make sense is if you need the tax writeoff for a business......Im not even sure it make sense then since they limit your milage....
Good Luck with it....
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Joined: Oct 2002
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Re:I THINK I GOT Ripped off !!
Posted by: FMF MX Posted on: Today at 02:23:26pm
Racer47 -
In a lease, the taxes AND license fees are calculated into the monthly payment. Its like an impound acct for those of you who have mortages. In Ca, your tax on that truck is at 8 and a half percent, and you know how high the DMV fees are now. That effectively added close to 12,000 to the price of the truck. So the 14,000 quoted earlier by someone who said you overpaid, is correct. But you didn't overpay. Its called tax and license fees. Now, divide that 12,000 by the number of months on the lease, and you'll see it adds about 200.00 a month to the payment. So in reality, your "truck" payment is in the 450-480 a month range, PLUS the tax & lic..so thats how it came out to 600 plus a month. At the end of the day, are you happy with the truck? If so, forget about this stuff and enjoy your purchase. Complaining to anyone out here will get you no where. The first thing they will ask, is did you sign the document? Then they will politely explain how you should of read it first. End of story, enjoy the truck. Don't let a bad buying experience ruin it for you.
Racer47 -
In a lease, the taxes AND license fees are calculated into the monthly payment. Its like an impound acct for those of you who have mortages. In Ca, your tax on that truck is at 8 and a half percent, and you know how high the DMV fees are now. That effectively added close to 12,000 to the price of the truck. So the 14,000 quoted earlier by someone who said you overpaid, is correct. But you didn't overpay. Its called tax and license fees. Now, divide that 12,000 by the number of months on the lease, and you'll see it adds about 200.00 a month to the payment. So in reality, your "truck" payment is in the 450-480 a month range, PLUS the tax & lic..so thats how it came out to 600 plus a month. At the end of the day, are you happy with the truck? If so, forget about this stuff and enjoy your purchase. Complaining to anyone out here will get you no where. The first thing they will ask, is did you sign the document? Then they will politely explain how you should of read it first. End of story, enjoy the truck. Don't let a bad buying experience ruin it for you.
Thread Starter
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Joined: Sep 2003
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From: Ventura Co. CA.
Re:I THINK I GOT Ripped off !!
I will be the first to admit I understand that ultimately it is “my” fault for committing the cardinal sin of not reading before you sign. That being said, I am in no way shape or form complaining about this situation. Lets face it; the only one here to blame is myself. I am simply looking for all possible alternatives (if there are any) to come out of this as best I can.
In an earlier post the comment was made: “Are you happy with your truck” I find it interesting that those are the EXACT same words the salesman said to me. In return, I asked him if he would be happy ordering a steak dinner the waiter told him was on special for 21.95, only to see on his bill it was actually 300.00. Now if you were asked if the steak was good, you may be inclined to say it was delicious, but after getting the bill it has left a terrible taste in my mouth.
So again I pose the question: What are my options.
A. Call and find out what the buyout is and just pay it. (Would that save me any money?)
B. Does the dealer have any say at this point or is it Chrysler fin.?
C. ???
D. ???
P.s. The truck was bought before the reg. increase
In an earlier post the comment was made: “Are you happy with your truck” I find it interesting that those are the EXACT same words the salesman said to me. In return, I asked him if he would be happy ordering a steak dinner the waiter told him was on special for 21.95, only to see on his bill it was actually 300.00. Now if you were asked if the steak was good, you may be inclined to say it was delicious, but after getting the bill it has left a terrible taste in my mouth.
So again I pose the question: What are my options.
A. Call and find out what the buyout is and just pay it. (Would that save me any money?)
B. Does the dealer have any say at this point or is it Chrysler fin.?
C. ???
D. ???
P.s. The truck was bought before the reg. increase
Banned
Joined: Jan 2003
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From: FL
Re:I THINK I GOT Ripped off !!
As stated before I think you should consult an attorney to sort this mess out. IF the dealership wants your repeat business and has good business ethics, they might rewrite your lease for a buy. But since the snalesman makes a whole lot more commission on a lease than a buy he won't want to turn some of his cash into the office. 7000 members on this board your probably gonna get 7000 different answers. ???
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From: FL
Re:I THINK I GOT Ripped off !!
If you wanted to purchase the truck at list price like they calculated the lease I'm sure they would find a way to "lose" the current paperwork and refile a "revised" one. I am only speculating tho. I am not a lawyer (nor want to stoop that low in my life that I am below pondscum.) Crunch your numbers and see what can be done.
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From: kansas city
Re:I THINK I GOT Ripped off !!
[quote author=RACER47 link=board=10;threadid=22186;start=15#msg208311 date=1068518664]
So are you saying the dealer does have the ability to rewrite this into a buy rather than a lease?
[/quote]
CALL the dealer and TELL your salesman you didnt read the fine line and you thought it was a sale, not lease...
last truck i bought was april 2002, and i recieved some paperwork on how i was treated on the purchase of my truck..
you might use this paperwork to "throw" in their face, you can always fill out the paperwork as your are not satisfied...
SURE WISH LUKE S. was still on the board... he sold dodges and knew all the ins and outs of buying and selling....
anyone still in touch with the guy?
So are you saying the dealer does have the ability to rewrite this into a buy rather than a lease?
[/quote]
CALL the dealer and TELL your salesman you didnt read the fine line and you thought it was a sale, not lease...
last truck i bought was april 2002, and i recieved some paperwork on how i was treated on the purchase of my truck..
you might use this paperwork to "throw" in their face, you can always fill out the paperwork as your are not satisfied...
SURE WISH LUKE S. was still on the board... he sold dodges and knew all the ins and outs of buying and selling....
anyone still in touch with the guy?
Registered User
Joined: Oct 2002
Posts: 476
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Re:I THINK I GOT Ripped off !!
It appears he (luke s) is hanging his hat here... warning: this is the "war room" anything goes, bickering, backstabing, gm lovers...
http://www.gm-diesel.com/diesel/vbul...amp;forumid=18
never could get the downsized link to work... If someone could shrink that... My quotes are still black too...
http://www.gm-diesel.com/diesel/vbul...amp;forumid=18
never could get the downsized link to work... If someone could shrink that... My quotes are still black too...