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Discussion Starter · #1 ·
I have a few questions for you guys... I just got my IFS welcome letter in the mail. The one that offers up some info and asks if you want to go paperless...

It is showing that I have a 39 month lease with 21,154 miles per year. My lease was 15,000 miles per year and I added an extra 10,000 miles total up front.

By my math my miles per year should be 18,076. What should I make of this discrepancy?

I also received an MPP agreement, which I declined at the dealership. I called MPP to see what they showed tied to my VIN and they told me I had the included oil changes and tire rotations as well as the Lease Wear Coverage. I asked them what they showed was paid and they said about $800. Did the dealership move money around and bundle it in without telling me to pad sales? Or is it a mistake?

Between the miles showing more and the MPP coverage... Can I hold them to these at the end of the lease?

-Matt
 

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They added 20,000 miles to your lease up front.

15,000 miles / 12 months * 39 months = 48,750

48,750 + 20,000 Additional Miles = 68,750 Miles

68,750 Miles / 39 Months * 12 Months = 21,154 miles per year.
 

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Discussion Starter · #4 ·
The guy doing the warranty stuff forgot to charge me my tax, title, license and first month, but charged me the $1000 for the 10,000 miles. He seemed like a shady ass hole who didn't know what he was doing. I had to have my wheels and tires traded out and he sent new paperwork to sign both times because he didn't include the $1000 for the miles into the downpayment on the paperwork.

So, am I held to what is on the signed paperwork? Or the documentation sent from IFS directly?

Also, what do you guys make of the MPP?

-Matt
 

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Discussion Starter · #5 ·
I called IFS and they confirmed the miles are added to the lease!

-Matt
 
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Discussion Starter · #6 ·
Do I dare call the dealership to ask if they just bundled that in? Or let it be?

-Matt
 

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Discussion Starter · #8 ·
Haha! I don't want an issue at the end when they try to say it's not on my paperwork though.

-Matt
 
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Discussion Starter · #10 ·
I finally got a call back from the now new GM of the dealership. He advised me the finance guy and the GM that was there when I made my deal have been fired.

He said all the deals are video taped and he was unable to find the video for my deal. He does not show were the warranty was paid for. He offered me to keep it or a refund on it.

I told him since I walked out with the payment I agreed on that I would keep it.

Very strange that they can't find were the money came from to pay for it.

-Matt
 

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I have a few questions for you guys... I just got my IFS welcome letter in the mail. The one that offers up some info and asks if you want to go paperless...

It is showing that I have a 39 month lease with 21,154 miles per year. My lease was 15,000 miles per year and I added an extra 10,000 miles total up front.

By my math my miles per year should be 18,076. What should I make of this discrepancy?

I also received an MPP agreement, which I declined at the dealership. I called MPP to see what they showed tied to my VIN and they told me I had the included oil changes and tire rotations as well as the Lease Wear Coverage. I asked them what they showed was paid and they said about $800. Did the dealership move money around and bundle it in without telling me to pad sales? Or is it a mistake?

Between the miles showing more and the MPP coverage... Can I hold them to these at the end of the lease?

-Matt
How much is ur monthly payments?
 

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Discussion Starter · #12 ·

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While I agree that there is something "not right" here, I have to ask the obvious question, why are you leasing if you need 25k miles per year? That translates to 75k miles in 36 months. The cars warranty will be expired at 50k miles. If you do not use all of that mileage, you are leaving money on the table. In order to give you the extra mileage, your residual had to take a "direct hit", if the original residual was 59%, your current residual might be 52%, that translates into a higher payment. Your money factor may have changed as well.

I have had a couple cars on lease that were clearly going to exceed the mileage limit. When I got too far out, I went back to the dealership, traded the car in for a new leased car and started over again. Because I stuck with the brand (Infiniti) the value of the car vs the trade in value yeilded a small negative number (the car was worth less than the "payoff"). That said, one of the keys to a good lease, is the payment you want with no money down, except the first month and maybe some fees (but not sales tax).

In order to get the MPP, that you declined. They must have shifted some of your "down payment" to pay for that. I only know one person that has used the MPP to correct some minor road rash on his wheels and a couple of dings on the doors, etc.

Keep all paper work, do not disgard anything until your lease ends.
 

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Discussion Starter · #14 · (Edited)
While I agree that there is something "not right" here, I have to ask the obvious question, why are you leasing if you need 25k miles per year? That translates to 75k miles in 36 months. The cars warranty will be expired at 50k miles. If you do not use all of that mileage, you are leaving money on the table. In order to give you the extra mileage, your residual had to take a "direct hit", if the original residual was 59%, your current residual might be 52%, that translates into a higher payment. Your money factor may have changed as well.

I have had a couple cars on lease that were clearly going to exceed the mileage limit. When I got too far out, I went back to the dealership, traded the car in for a new leased car and started over again. Because I stuck with the brand (Infiniti) the value of the car vs the trade in value yeilded a small negative number (the car was worth less than the "payoff"). That said, one of the keys to a good lease, is the payment you want with no money down, except the first month and maybe some fees (but not sales tax).

In order to get the MPP, that you declined. They must have shifted some of your "down payment" to pay for that. I only know one person that has used the MPP to correct some minor road rash on his wheels and a couple of dings on the doors, etc.

Keep all paper work, do not disgard anything until your lease ends.
I didn't add 10k miles a year, I added 10k total (But it shows 20k added.) Also, I didn't put any money down, so the only money there may have been to play with is the trade, but the new GM couldn't see where.

The MPP will be used as I was hit in my work parking lot on day 2 of having the car. I quoted the repair from an Infiniti certified repair facility and it was like $800 to fix. So it will come in handy for that at least.

I have to double check the residual amount to see if it changed, but I plan on just dropping the car off, and not purchasing it.

As far as I am concerned that was the plan from day 1 and if I get a warranty that is already saving money for the same payment I agreed upon, I guess I am OK. I just really want to know WTF they got the money, because that means something shady happened. It seems to have worked out in my favor though.

-Matt
 

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Discussion Starter · #15 ·
It just pisses me off as I was pretty thorough with seeing all the number, but you can't see on the paperwork what I got for my trade. I just have to go by the amount added to retail for the supposed difference.

-Matt
 

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It just pisses me off as I was pretty thorough with seeing all the number, but you can't see on the paperwork what I got for my trade. I just have to go by the amount added to retail for the supposed difference.

-Matt
It should be stated on the 2nd page of the lease contract. Section 11. "Trade-In Vehicle".
 

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Discussion Starter · #17 ·
It should be stated on the 2nd page of the lease contract. Section 11. "Trade-In Vehicle".
I only have one page ending in section 10.

-Matt
 

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Discussion Starter · #18 ·
Now I am home too... My residual dropped $1000 after they added the $1000 for the 10k miles in. As did the purchase price.

-Matt
 

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Discussion Starter · #19 ·
Any other numbers you want to know, just let me know.

-Matt
 
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