Dealer wants deposit on lease

[FoxTrot]

The dealer called me back and wants me to go in today to put 1k deposit on the car i want. Heres the thing and what im worried about is, i wont know the exact numbers til monday cause this is all done through 3rd party so the dealer wont get the numbers back till monday (monthly payments, interest rate, term, etc).

I told them that i wont be able to decide until i get numbers back cause i need to do the math on it long term. Thatll determine if its worth it for me and want to go ahead with it. They said thats fine and understandable.

Say I get the numbers back Monday and i look it over and I decline, i sure hope i can get my 1k deposit back. Ive heard stories on here of some dealers in this city who dont refund deposits back even though nothing has been finalized. The last thing i need right now is to be chasing them for my money for months.

What do you think? I really want the numbers back first, i told them i dont feel comfortable putting a deposit down on something that im not even confirmed on buying. Any tips on how to work around this when i go in later today?

[jdmXSI]

put a clause like "subject to veiwing of final lease contract, deposit is full refundable". Make sure that it is on a printed contract and not just hand written.

Just out of curiosity, what kind of car is it that you're looking at? Not many manufacturers use 3rd party leases now, not that I know of anyways...

Just my .02

[Weapon_R]

The car will still be there on Monday. Or one exactly like it. Set your own terms or, if you can't wait, put a clause as mentioned stating that the sale is subject to viewing of the final numbers.

[FoxTrot]

Originally posted by jdmXSI
put a clause like "subject to veiwing of final lease contract, deposit is full refundable". Make sure that it is on a printed contract and not just hand written.

Just out of curiosity, what kind of car is it that you're looking at? Not many manufacturers use 3rd party leases now, not that I know of anyways...

Just my .02

The two im looking at is

2010 Genesis Coupe MT, 89k km, 18k
2011 Genesis Coupe AT, 4k km, 24k
2011 Mits Lancer AT, 30k km, 17k

Lancer is the colour i want of the 3 and also the cheapest of the 3. Only worry i have is its warranty and support since Mits cars are rare.

2010 Gen coupe is what i prefer cause its MT but so many issues with 2010 Gen coupe MTs gear grinding issues. Been reading them online in Gen coupe forums and lots lots of issues. That is the only worry i have. Plus its already got 89k on it, meaning timing belt will have to be done soon and probably need a new clutch soon.

2011 Gen coupe with only 4k is pretty much brand new but its also 8k more than the used 2010 one. Also its AT, want MT just cause i dont know how good Hyandai ATs are long term. But if the 2011 hyandai ATs are up there with Toyots, Nissans, Mits etc then i would have no problem settling for the auto.


Originally posted by Weapon_R
The car will still be there on Monday. Or one exactly like it. Set your own terms or, if you can't wait, put a clause as mentioned stating that the sale is subject to viewing of the final numbers.

And thats what i dont get, why they need a deposit on something i havent even decided on yet.

[kaput]

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[Rat Fink]

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[FoxTrot]

Originally posted by Rat Fink
You can lease mileaged out turd boxes? I don't get this at all. So that car with 89K on it......You are planning on basically renting it and yet you still have to fork over cash for doing a timing belt and other maintenance on it?

Well thats the thing, apparently you can lease used cars 2010 and newer. But if the 2010 used one already has 89k km on it, then chances are i would most likely have to do the clutch and timing belt/ water pump on it at some time. Unless the dealer warranty covers it but doubt it. I dont think dealers warrantys cover timing belt/water pump and clutch as its considered maintenance.

Whereas if i lease the 4k km on then i wont.

Btw i drive 14k-17km a year.

Im guessing from your comments, that itd be best to lease a brand new car?

[Unknown303]

Lease new or buy old is what I'd say.

And just tell them you're not putting down a deposit. What's the worst that can happen, you don't get the car? or have to find one somewhere else? If they demand one just tell them you're going elsewhere then.

[rage2]

Leasing used is silly. Check the fine print. Chances are you have to buy the car at the end of the lease term, which defeats the purpose of leasing unless you have a business reason to do so. Almost all 3rd party leases are done this way.

[benyl]

^^
Leasing used is dumb. You are likely going to have a rate of 8-10% and the residual is likely to be low. Your payments are likely to be the same or higher than new.

[spikerS]

fuck, first time I have ever heard of that you could lease a used vehicle. I was always under the assumption that you could lease or finance a new vehicle, but only finance a used one...

[Aleks]

Originally posted by spikers
fuck, first time I have ever heard of that you could lease a used vehicle. I was always under the assumption that you could lease or finance a new vehicle, but only finance a used one...

BMW used to do used CPO leasing (very low rates too), and I think they still might. Leasing through a 3rd party if definatelly a bad idea. You'd be better of going to a bank and grabing a line of credit. I bet you'd come out ahead interest rate wise.

[FoxTrot]

Well I went into the dealer and test drove the car again. I said I didnt want to put a deposit down cause i need numbers first. They said ok but they need 1k down as deposit to put the car on hold for me and run the app to the 3rd party to get numbers back. They said its like that at every dealer. Hmmm seems bit fishy to me.

So I had no choice. I dont have a feeling about this dealership cause the workers in this place seems to be a bit fishy. I wont get into details but i had to keep telling them im NOT finalizing anything yet, i just want numbers back first. And had to get them to state and sign on my deposit form that i have a refundable deposit if i decide to not go ahead with it.

I better not be having a bad feeling about all this. The last thing i need is to be chasing a dealership for 1k back if i decide im not going ahead with it. Ive heard far too many horror stories.

Cause afterall, if i decide to not go ahead with it, i mean i know the dealership will want some compensation for their time right?

[Unknown303]

Or you could have walked away...

[FoxTrot]

Originally posted by Unknown303
Or you could have walked away...

I dont know what the truth is, they kept saying that a deposit is required at every dealership before getting final numbers back on a lease. Maybe its cause theyre running it through a third party but when i asked them they said you need to put a hold on the car first.

Had to remind the finance girl that i wasnt signing any car reg forms yet when i havent even agreed to buy the car yet! The finance manager and dealership manager were like "people get their deposit back if they decide not to take the car" Well i want a freakin receipt for it then! Sorry but a mastercard slip receipt aint gonna cut it. I had to ask for a copy of my deposit form for myself to keep and get the manager to state on it that i have a refundable deposit.

I really hope this is not gonna be a mess getting my money back. Cause if this is the case they will not see my very pleasant side.

Will make my decision on Monday night when i get the numbers.

[Aleks]

Originally posted by FoxTrot


I dont know what the truth is, they kept saying that a deposit is required at every dealership before getting final numbers back on a lease.

100% false. I've leased 5 cars so car. The only time I have put money down for a deposit was once numbers are agreed on. And I only put down enough to cover first month's payment.

[m10-power]

:cry:

Is the OP's future

Grow some balls and tell them no next time. Then walk out of the dealer after telling them you'll buy elsewhere.

[jdmXSI]

What dealership is this? Have you considered leasing a new genesis coupe? I wouldn't be surprised if the monthly cost is close to what third party is able to do and you have the option to walk away from the car when the contract matures. Most 3rd parties lease contracts do not allow you to do so, you're responsible for the whole buyout even if it is greater than what the car is worth.

[Ven]

What dealer?

[FoxTrot]

Calgary Hyaundai

"come in, pick a car....put down 1k deposit cause we have to hold it for you and when we forward it to the 3rd party lender, we can say hey...____ is interested in ____ car and has come in and put down a 1k deposit....what can you do for him?" "it just shows the 3rd party youre serious about getting the car"

[kaput]

.

[bignerd]

You want to do business with them, you shouldn't have to pay a deposit to do business with them. I have never heard of having to put a deposit down to "run an application or numbers". Perhaps they waste a lot of time "running numbers" and then having people reject the deal, but that is part of doing business.

I would of walked away, plenty of other dealerships would love your business I am sure.

[Sugarphreak]

...

[benyl]

Originally posted by FoxTrot
Calgary Hyaundai

"come in, pick a car....put down 1k deposit cause we have to hold it for you and when we forward it to the 3rd party lender, we can say hey...____ is interested in ____ car and has come in and put down a 1k deposit....what can you do for him?" "it just shows the 3rd party youre serious about getting the car"

I can't believe people buy this line.

[Tik-Tok]

Be sure to get the paint protection, extra undercarriage coating, and nitrogen filled tires as well. :nut:

[dimi]

Originally posted by FoxTrot
The last thing i need right now is to be chasing them for my money for months.

Originally posted by FoxTrot
Hmmm seems bit fishy to me.


Originally posted by FoxTrot
So I had no choice.


Here's a choice for ya: DON'T PUT A FUCKING DEPOSIT DOWN.

I seriously can't tell if you are a troll or just that stupid.

[rage2]

So why did you post and ask us for our opinions, when you went ahead and dropped a deposit anyways? :rofl:

[Toma]

It's a principle thing.

I woulda told them to get fucked.

ONLY if the deal was insanely good would I ever put a deposit down.... like once in a lifetime good.

But we are talking Hyundais :facepalm:

[cde1966]

In before the "Deal fell through and they won't give me my deposit back" post:thumbsup:

[JRSC00LUDE]

OP if you go ahead with ANY of those deals today or, for that matter, a lease on any used car from anywhere then you're a retard.

Maybe you should:

a - buy what you can afford
b - learn how not to get taken advantage of and pressured by salesmen
c - LISTEN WHEN YOU ASK FOR ADVICE EVEN THOUGH YOU DON'T LIKE THE ANSWER
d - all of the above

[G-ZUS]

:facepalm: IN4LULZ

[spar7]

FoxTrot = RondaBonda = maxwinedog = copynpaste



This is the same idiot coming back and making these types of posts over and over again.

[Xtrema]

Originally posted by spar7
FoxTrot = RondaBonda = maxwinedog = copynpaste



This is the same idiot coming back and making these types of posts over and over again.


Originally posted by rage2
So why did you post and ask us for our opinions, when you went ahead and dropped a deposit anyways? :rofl:

Gotta be a troll. Nobody over 18 can be this retarded.

You have to wonder if you are even should own a car when you have to lease a used econobox.

[Unknown303]

Strange we haven't heard anything from him yet....

[G-ZUS]

^ seems like a typical thread from him/her/it

[Disoblige]

FoxTrot, I've been wondering myself for a while now, are you copynpaste?