Dealer call back for lease re-do

[tboysen]

Well, it happened to me as well. I got a call back from the dealer asking me to come back in to re-sign the lease and that it would lower my payments by about $15. After reading another post on here made me a little more calm before I went in. Now, I am no math wizard and I have no patience when it comes to looking at figures, well some figures, but I did pour over the new lease agreement and from what it looked like, Honda decided that the truck was going to have a better resale value at end of term, 17,500 instead 16,600. They also came down in the overall price by 1,000. They did however keep all of my down payment. I feel that Honda decided to tweak the numbers a little to get the best deal for them at lease end. I am still having a little trouble grasping the whole concept, but I do feel, giving my current credit score, that I still got a fair deal. I can post numbers for those in the know, as long as it does not violate any site agreement.

t

[k757]

Originally Posted by tboysen

Well, it happened to me as well. I got a call back from the dealer asking me to come back in to re-sign the lease and that it would lower my payments by about $15.

Do you plan on purchasing after the lease expires? If so, have them buy and install a couple expensive options for you as part of the "new deal"... else tell them to buzz off

[Just Ask]

Originally Posted by tboysen

Well, it happened to me as well. I got a call back from the dealer asking me to come back in to re-sign the lease and that it would lower my payments by about $15. After reading another post on here made me a little more calm before I went in. Now, I am no math wizard and I have no patience when it comes to looking at figures, well some figures, but I did pour over the new lease agreement and from what it looked like, Honda decided that the truck was going to have a better resale value at end of term, 17,500 instead 16,600. They also came down in the overall price by 1,000. They did however keep all of my down payment. I feel that Honda decided to tweak the numbers a little to get the best deal for them at lease end. I am still having a little trouble grasping the whole concept, but I do feel, giving my current credit score, that I still got a fair deal. I can post numbers for those in the know, as long as it does not violate any site agreement.

t

If they lowered your "price" by $1000 and they gave you $900 more in residual value but only dropped your monthly payment a mere $15, you got screwed somewhere in the shuffle. The amount you are paying over your lease term should have dropped $1900 which is a reduction of $40/$53/$79 on a 48/36/24 month lease term, respectively. Looks like they changed your money factor which is the amount of interest you are paying to lease. If you post ALL the numbers for both scenarios, I can help you out.

[Exbox]

If they lowered your "price" by $1000 and they gave you $900 more in residual value but only dropped your monthly payment a mere $15, you got screwed somewhere in the shuffle. The amount you are paying over your lease term should have dropped $1900 which is a reduction of $40/$53/$79 on a 48/36/24 month lease term, respectively. Looks like they changed your money factor which is the amount of interest you are paying to lease. If you post ALL the numbers for both scenarios, I can help you out

WHOA!! You're a good dude to know!