Stealer wants $3800 more!!!!

[Chest Rockwell]

So I just got a call from my SA saying that there was a problem with the lease I signed yesterday. That they had incorrectly listed the residual for a coupe instead of a sedan and as such they need me to bring down $3800 for the deal to go through. Either that or I can return the car and take my trade back.

Is this right? I signed all the lease papers and everything was on there in black and white, went through the SA and the business manager and neiter of them caught it. What makes me most suspiscious is that after taking in my trades, yep 2 of them, the manager said that he had "stepped on his dick on this one." I'm thinking that the 3800 may be to cover their loss on the deal, or maybe it was an honest mistake. Either way, should I even consider forking over the $3800 or a fraction there of?

Chest

[double_j]

If you feel like it's still a fair price with the extra $3,800 then go ahead and do it. At least they're being upfront and are not forcing anything - you still have the opportunity to walk away if you don't like the deal.

I would propose that they rewrite the lease to include the additional $3,800 into your monthly payments - isn't that what would have happened anyway? Just tell them you don't have the cash.

[brokenleg]

You may want to check the laws in your state. Some states (California for example) have a no cooling off period clause which means the deal is the deal. I was stuck with a very bad lease once and this clause was used by the dealer to offer no assistance one day after the deal was made.

[Wah]

Did you run the numbers to see if that was the mistake? If so, then I would just tell them to rewrite the lease contract.

[DoNDoN]

Originally Posted by Chest Rockwell

So I just got a call from my SA saying that there was a problem with the lease I signed yesterday. That they had incorrectly listed the residual for a coupe instead of a sedan and as such they need me to bring down $3800 for the deal to go through. Either that or I can return the car and take my trade back.

Is this right? I signed all the lease papers and everything was on there in black and white, went through the SA and the business manager and neiter of them caught it. What makes me most suspiscious is that after taking in my trades, yep 2 of them, the manager said that he had "stepped on his dick on this one." I'm thinking that the 3800 may be to cover their loss on the deal, or maybe it was an honest mistake. Either way, should I even consider forking over the $3800 or a fraction there of?

Chest

Which dealer is this?

[paul.r]

Do you think they'd be calling you to come in if the deal was $3800 in their favor? There's your answer.

[996TTE92M3]

you should hold on to the papers you are holding tight... they are in contract just as much are you are at those numbers... what is the term, miles and residual according to your contract?

[Chest Rockwell]

Originally Posted by DoNDoN

Which dealer is this?

I don't want to drop names yet because they are still "seeing what they can do." But be sure that if things go south it will be made very public.

I am fairly sure that they would laugh all the way to the bank if they got an extra $3800 out of me. I told the wife I'm not giving the car back though, anyone know a good lawyer in MD?

[dennk2003]

New to the forum, but have recently leased a new M3 Vert, and the dealer also made a mistake, but fortunately for me, they ended up reducing the price of the M3 by about $4k, to keep the lease payment the same as originally quoted. To me, that was the right way to treat a customer.

Personally, I would return it rather than eat the $3800, but I guessing the dealer will find a way to make it work if they feel they are losing the sale.

[DoNDoN]

Originally Posted by Chest Rockwell

I don't want to drop names yet because they are still "seeing what they can do." But be sure that if things go south it will be made very public.

I am fairly sure that they would laugh all the way to the bank if they got an extra $3800 out of me. I told the wife I'm not giving the car back though, anyone know a good lawyer in MD?

Good luck with it. Enjoy the car.

[mylydiamy]

If you are not happy with forking $3800, go to another dealer. There are tons of BMW out there and dealers are dying to sell you one in this economy

[Race_Doc11]

Let me ask you this: if it is the other way around would they refund you the 3800??? I don't think so. Deal is a deal and trust me they don't do any paperwork unless they are sure. I think they are trying to pull this one on you.
If I was in your shoes and I have no problem paying the 3800 I would go to another dealer and let them know they lost the sale.

Originally Posted by Chest Rockwell

So I just got a call from my SA saying that there was a problem with the lease I signed yesterday. That they had incorrectly listed the residual for a coupe instead of a sedan and as such they need me to bring down $3800 for the deal to go through. Either that or I can return the car and take my trade back.

Is this right? I signed all the lease papers and everything was on there in black and white, went through the SA and the business manager and neiter of them caught it. What makes me most suspiscious is that after taking in my trades, yep 2 of them, the manager said that he had "stepped on his dick on this one." I'm thinking that the 3800 may be to cover their loss on the deal, or maybe it was an honest mistake. Either way, should I even consider forking over the $3800 or a fraction there of?

Chest

[outie]

Can you show us the #s? It would be easy to tell whether they really used the coupe residual.

[Chest Rockwell]

Originally Posted by 996TTE92M3

you should hold on to the papers you are holding tight... they are in contract just as much are you are at those numbers... what is the term, miles and residual according to your contract?

36 months, 12k a year and residual should be 59% (shouldn't it?) but they figured it at 63%, the difference would end up being 3k+

The reason I went here is because they were offering me a lot more for my trade, about 3K more oddly enough........

[richardbb85]

no way in hell you should pay the $3800, find a lawyer asap!!!!

[Serious]

Im sure they actually made a mistake on the deal... BMW dealerships (sales at least) typically aren't shady when it comes to numbers.

That said I would lawyer up and see if you are actually required to pay for their mistake.

No matter what you do I would get the GM of the dealership involved... explain the situation to him and see what he wants to do.

[Wah]

Originally Posted by Chest Rockwell

36 months, 12k a year and residual should be 59% (shouldn't it?) but they figured it at 63%, the difference would end up being 3k+

The reason I went here is because they were offering me a lot more for my trade, about 3K more oddly enough........

For 36 mos, the sedan residual should have been 52% and the coupe 57%. What was the MSRP of your vehicle?

[Crazy Bimmer]

This was for the month of June

2011 BMW M3 Sedan
24 Month – Residual 59% of MSRP – .00200 Base Rate
36 Month – Residual 52% of MSRP – .00200 Base Rate
48 Month – Residual 42% of MSRP – .00230 Base Rate
60 Month – Residual 34% of MSRP – .00230 Base Rate

2011 BMW M3 Coupe
24 Month – Residual 63% of MSRP – .00200 Base Rate
36 Month – Residual 57% of MSRP – .00200 Base Rate
48 Month – Residual 43% of MSRP – .00230 Base Rate
60 Month – Residual 35% of MSRP – .00230 Base Rate

[Chest Rockwell]

Originally Posted by Wah

For 36 mos, the sedan residual should have been 52% and the coupe 57%. What was the MSRP of your vehicle?

I payed around 68K, the listed residual is 43K onthe contract. No doubt now that it was just a simple mistake, but should I have to fork over the cash for their lack of attention to detail? AM I being a dick or should it really fall on me to pay it or give it back?

[Leonardo629]

If it was me..I'd go back..and fork out that money that isn't rightfully mine.....just me though.

Think about it..what if you need special favors in the future from the dealer..? You can always drive to another dealer I suppose....but you can strengthen the bond with your current dealer.

[frenchM3dreamer]

how many people, including myself, have been screwed over and again by dealerships... this time YOU have them by the balls, have fun
i guess you dont really want to return the car, but just dont tell them that and use the position you're in to work out some kind of deal...

[Chest Rockwell]

Originally Posted by Leonardo629

If it was me..I'd go back..and fork out that money that isn't rightfully mine.....just me though.

Think about it..what if you need special favors in the future from the dealer..? You can always drive to another dealer I suppose....but you can strengthen the bond with your current dealer.

That money IS rightfully mine, it's not like I ran in there with a contract I printed and made them sign it. They control everything, the damn contract is as long as I am tall. We had been working numbers for a week, and they were in a rush to get the sale done by the last day of the month, yesterday.

IF it were the fact my check bounced and they wanted me to come in with cash I would say you're right, but that is money that I never promised them that they are asking for after the fact to resolve their error. Not shady, just poor business practice. And I alredy went out of my way to deal with them because the other dealer I worked with sold me a car they couldn't even get because it was already sold. Is BMW just in the business of fu*king up deals?


Chest