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      10-23-2011, 11:19 AM   #1
dagolfpro
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What should my effective date be on my lease?

So here's the scenario:

I'm in San Jose, CA. Car is in So Cal. Found a car and agreed in principle on 10/14. Gave the dealer a credit card to secure the car before I can go down and pick up at end of the month.

Dealer sent contract to my local BMW dealership to sign last week, numbers were incorrect due to renegotiated Tire and Wheel Warranty. Signed most of the docs except actual lease agreement and contract. They did not send up new contact as my pickup date is near. Says we can do this once I arrive at the dealership.

Turns out as of 10/20, credit card was not charged. I was worried they sold the car to someone else as I have no records this was sold to me. I contacted the dealership and they finally charged my CC on 10/21. The sales manager emailed me this yesterday.

"This email is to confirm that Vin# XXXX 2011 M3 is your sold Vehicle. It is on our showroom floor waiting for you to come and complete the contract on October 10/XX/2011."

So, I asked the Sales Manager, since I haven't signed the contract, when is my effective date for the lease? He replies, 10/14, the date we agreed on the car. He said that in California, cars can't be held unless it's considered sold. He had to do this so he can hold it for me as we had a contract pending. He said he has reported the sale to BMWNA already. He also gave me a line stating that another CA had a customer come in wanting to buy the car and couldn't sell it to him as the contact is pending with me. So, it's "Protecting" me.

Some members here have said this is considered backdating, is that right and if so, is that legal?

My question is, does this seem right? I haven't signed the lease/contract and only gave them a deposit on the car.
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      10-23-2011, 07:55 PM   #2
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I don't think a deposit without the accompanying paperwork is enough to hold the car for you. As long as you have something in writing that it's yours, you're good. I personally wouldn't worry about the two week difference on the paperwork for the lease if it means guaranteeing you the car.
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      10-23-2011, 08:14 PM   #3
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umm, it's 2 weeks without the car. I wouldn't agree to it. When paperwork is signed is when the lease starts
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      10-23-2011, 08:31 PM   #4
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Quote:
Originally Posted by xrayos View Post
umm, it's 2 weeks without the car. I wouldn't agree to it. When paperwork is signed is when the lease starts
And that's it.
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      10-23-2011, 09:20 PM   #5
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Quote:
Originally Posted by xrayos View Post
umm, it's 2 weeks without the car. I wouldn't agree to it. When paperwork is signed is when the lease starts
I would think that's the case. I did sign the DMV Vehicle Transfer form back on 10/19. They had it dated 10/14, which is the date forms were sent up here from So Cal.

Any input from the sponsors on this forum?

Quote:
Originally Posted by THE TECH View Post
I don't think a deposit without the accompanying paperwork is enough to hold the car for you. As long as you have something in writing that it's yours, you're good. I personally wouldn't worry about the two week difference on the paperwork for the lease if it means guaranteeing you the car.
partial paperwork was signed by me, see above. I don't know if that's enough to consider this a deal yet, but if the transfer of car was filled out, I'm guessing they really wanted to sell the car to me.

Big picture, you're right, what's 2 weeks as I plan on buying the car at the end of the lease. It just doesn't seem right starting a lease when the contract hasn't been signed yet. Registration will be in Oct instead of Nov. Warranty will expire on 10/14/15 instead of 2 weeks later. All these little things add from my point of view...
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