[tt_45]

Well, hello fellow Q50 friends!

To the "old timers" of this forum, if you're wondering, my car is STILL in the shop. .. It's been over two months, and still not even close to being done.

Now I have new issues:

I signed the lease on Sept 6 and as many of you know, I have not received the lease payment bill. Not that I'm so excited to give them money but I figured I'll have to sooner or later... So I called them...

Anyway, the dealer finance manager called me back today stating that there has been mistake in my lease and he just figured out the way NOW to correct it. I"ll need to sign a new lease, with the same monthly payment amount, but lease being dated Nov 22 as a start date.

I asked him that I thought there has been better lease deal these days, and can he get me better numbers. His answer was that they had to keep the money payment almost identical ($629), but he is going to return $1300 back to me for "over paid MSD". (I paied $6750 and he said I only need to pay $5400.)

So, i'm a bit confused and would like to get input/help from you guys, especially the people who also is leasing, to clear my mind a bit.

Q50 Premium AWD Hybrid with all packages (Nav+Deluxe Tech...); 39month, 10K miles/yr. Credit score high 700.

1) What's this month, Nov's "official" lease money factor & residual for my car?

2) Even if we used the same money factor and risiduel as in Sept. If 9 MSD should be $5400, doesn't that mean the initial lease monthly payment (before adjusting money factor by 9MSD) is $550~$599? Then after applying 9MSD, the final payment should be much lower than $600 (which is the point to use MSD). Am I missing anything?

3) And I thought I read that the lease deal is better in Nov? Is that true?

As exhausted as I have been with this whole Q50 deal/repair, I hate to just blindly sign the "new" lease and pay the exact same amount when in fact I should get a better lease since they're really prolonging my lease...

And it's not like I have been able to driving Q50 for this extra 2.5 months! ..

Any thoughts/advice? Thanks! And have a happy Thanksgiving!!

 

[gbert15]

Ouch! Sorry to hear about the progress and sorry I cannot help u on lease info since I bought mine but I do hope u get to drive what u paid for soon! Its kinda disheartening to hear that one of the old members car is still @ the shop while some new ones got theirs recently! Wish u the best and hope that everything works out for the best! Happy thanksgiving!

 

[tt_45]

Thanks, gbert! Yeah, all of you "old members" have had like ... thousandS of miles and mine is still .. a few hundreds!

Actually that's part of my frustration: If they correct the lease but leave the start date as Sept, at least I will have "saved" several thousands miles to be used during the rest of ~36 months. Now if the reset button is hit, I will simply loose even THAT pitiful "gain"!

btw, keep the OREO Build Thread going! I can tell you're having fun!! So happy for you!!

 

[ktsg21]

no way you can just dump that lease completely? since you didn't even have your car at all?

 

[tt_45]

no way you can just dump that lease completely? since you didn't even have your car at all?

I SURE WISH I could !!!

Well, they have what I paid for MSDs and initial "out of door", about $9000. If I didn't pay MSDs, I probably will just "run" and go pick another Q50!

(or M, if Q continues to have problems like this.... OK, maybe still Q! )

 

[vbx]

9K due at signing and your payments are over $600? Something aint right.

 

[gsam]

I SURE WISH I could !!!

Well, they have what I paid for MSDs and initial "out of door", about $9000. If I didn't pay MSDs, I probably will just "run" and go pick another Q50!

(or M, if Q continues to have problems like this.... OK, maybe still Q! )

eh????? Why???? This story is nuts.

For the money you're paying you could have gotten a loaded Audi A7.

Are you in Canada?

 

[tt_45]

So, $6750 of that $9k was 9 MSDs which I will get back after 39mon. Then there's out of door fee including 1st payment, license plate, documentation fee, ... Then I think they put me in $1300 cash down which I didn't find out until afterwards. Then I believe there's window tint ...

Originally the monthly payment would b over $700. 9MSD brought it down to $629.

No. I'm in WA.


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[vbx]

So, $6750 of that $9k was 9 MSDs which I will get back after 39mon. Then there's out of door fee including 1st payment, license plate, documentation fee, ... Then I think they put me in $1300 cash down which I didn't find out until afterwards. Then I believe there's window tint ...

Originally the monthly payment would b over $700. 9MSD brought it down to $629.

No. I'm in WA.


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Whats ur agreed upon value of the car?

 

[tt_45]

Whats ur agreed upon value of the car?

I believe it was ~ $53,895. MRSP, and the exact price I had to pay. No incentive, no loyalty, no discount, no negotiation at all at that time. Price to pay to get the car among the first, but actually didn't take delivery until MUCH later. .... Ok don't get me started...


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[vices]

If Nov. 22 is the start date, you should definitely fight for the new numbers. I agree with you, having lower MSDs does sound quite suspicious, as you say it sounds like they're using the new numbers and just pocketing the difference. Something sounds fishy here...

Heck, if there are no papers, the car might not even be yours *wink* *wink* (if only it were that easy)

 

[Sinecure]

ejhyun may be able to shed more light on this than me. I'm a sales guy, not a finance guy. But it does seem to me that you have some leverage at this point. Except they have your money. But if they're making you sign a new lease, you should at least be able to get the current money factors and residuals which I believe are better than they were when you signed your original lease. Not sure if you're in a position where you could re-negotiate the price of the car. I'd be very, very reluctant to do that if I were on the dealer side. You'd certainly be within your rights to ask the dealer to give you some concessions like a few free services or something like that as a thank you for taking your time to re-do the paperwork and as an apology for screwing up the MSD's the first time. It never hurts to ask.

 

[tt_45]

ejhyun may be able to shed more light on this than me. I'm a sales guy, not a finance guy. But it does seem to me that you have some leverage at this point. Except they have your money. But if they're making you sign a new lease, you should at least be able to get the current money factors and residuals which I believe are better than they were when you signed your original lease. Not sure if you're in a position where you could re-negotiate the price of the car. I'd be very, very reluctant to do that if I were on the dealer side. You'd certainly be within your rights to ask the dealer to give you some concessions like a few free services or something like that as a thank you for taking your time to re-do the paperwork and as an apology for screwing up the MSD's the first time. It never hurts to ask.

Thanks. I agree. I didn't plan to renegotiate price of car. I already agreed to pay that. But will for the current MF and thus the better monthly payment. I don't believe the MSDs were screwed up the first time, (but rather the logistics/documentations between the dealer and IFS afterwards. ) I suspect that, exactly like vices mentioned, instead of being honest and courteous with current numbers, they ask me to simply pay the original higher amount, and they pocket the difference! And I guess somehow they can't manipulate MSD numbers on paper..?

So what's my obligation now? Does my signed contract still has any (legal) power? What if they refuse to use current MF and recalculate?! Ugh!!!




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[gbert15]

Thanks, gbert! Yeah, all of you "old members" have had like ... thousandS of miles and mine is still .. a few hundreds!

Actually that's part of my frustration: If they correct the lease but leave the start date as Sept, at least I will have "saved" several thousands miles to be used during the rest of ~36 months. Now if the reset button is hit, I will simply loose even THAT pitiful "gain"!

btw, keep the OREO Build Thread going! I can tell you're having fun!! So happy for you!!

Hey im not that old! Im still 28!

Ive been slow on my mileage though! I actually just hit 1500 yesterday!

Oh that sucks! I wish they could at least give u new/cheaper pricing/lease rates! Or even better help u get a new car to lease!

Thanks! Will definitely do! Just a few more mods though and cant wait for my wheels to come in!

 

[MattJB]

Just curious, tt_45... Do you have a buddy you can call who just happens to practice law in your state?

 

[tt_45]

Just curious, tt_45... Do you have a buddy you can call who just happens to practice law in your state?

Hmmm, not really. . I probably should ask around.... Thx.


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[vbx]

How are people getting into the $300-400 leases with very low money down?

Looks like we both have been had! lol

 

[tt_45]

How are people getting into the $300-400 leases with very low money down?

Looks like we both have been had! lol

I KNOW!!!! Right?!




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[tt_45]

So here's the new "contract" sent to me today. Feel free to comment.

My suspicion is they are using way higher LMF and lower residual than it's supposed to be. Can you tell what MF it is based on?

They used the price I agreed to pay, which already included acquisition fee of $700, but added another $700 acquisition fee. I'm sure that's easy to correct.

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[vbx]

Kind of hard to see. I don't see anything wrong besides the excessive amount u put down. Didnt look like it lowered your payments because the monthly payments is based on the adjusted cap cost minus residual value.

but honestly, its not as bad as my contract where they pulled a bait and switch on me. Not only that, they used my trade in credit to make it almost look like my negotiated price!

Man I am a freaking idiot for not realizing it until after the fact.