Leasing - please advise!

[Anonymous]

I recently leased a vehicle a few days ago and in retrospect i realize that I did not negotiate a bit (my mistake) and feel ripped off. Unfortunately I focused on the monthly payment I could afford and failed to pay careful attention to the terms of the contract such as the amount I would end up paying by the end of the lease and some dealer charges. Is there anything I can do at this point to renegotiate the terms of the lease? I am planning to buy the car when the lease ends so I am regretting having signed the lease with out seeing the terms in detail and at my own pace (the dealer does not print any documents, and you sign electronically on a computer touch screen that the finance person controls and passes pages very quickly).

Please advise if there is anything I can do at this point. I traded my old vehicle and still have the title with me. Although I signed a bunch of paperwork to transfer it.

Thanks

[Anonymous]

At this point you are stuck with it.

[Anonymous]

I thought there was a 3- day timeframe in which you could change your mind on cars. It was called the “ lemon” law or something. Wish I knew more but just in the back of my mind from many years ago when it was on the news!

[Anonymous]

Anonymous wrote:I thought there was a 3- day timeframe in which you could change your mind on cars. It was called the “ lemon” law or something. Wish I knew more but just in the back of my mind from many years ago when it was on the news!

There is no 3 day right to return on vehicles. There is on other stuff, mostly door to door sales.

[Anonymous]

Ugh, sorry OP. I think you're stuck.

[Anonymous]

If it makes you feel any better, the leasing market has been kind of crazy and I’ve been barely able to negotiate anything when I used to really negotiate

[Anonymous]

In va you have three days to cancel. Try that.

[Anonymous]

Anonymous wrote:If it makes you feel any better, the leasing market has been kind of crazy and I’ve been barely able to negotiate anything when I used to really negotiate

Thanks, I have come into terms with this. It does make me feel better knowing that even if I tried, they would not have lowered the price.

[Anonymous]

If only there were a way you could make monthly payments in such a way as to own the car at the end of your term.

[Anonymous]

Anonymous wrote:If only there were a way you could make monthly payments in such a way as to own the car at the end of your term.

This is either one of the funniest or dumbest post ever on DCUM.

[Anonymous]

posts

[Anonymous]

Anonymous wrote:

Anonymous wrote:If only there were a way you could make monthly payments in such a way as to own the car at the end of your term.

This is either one of the funniest or dumbest post ever on DCUM.

PP. It was meant to be sarcastic.

[Anonymous]

Other than dealer fees only some of which can be negotiated, you are paying for 3 things in a lease: 1) sticker price of the car or capitalized cost 2) the residual value or what’s left after depreciation of the car over your lease term and 3) interest also referred to as money factor

The residual value is typically set by the company and not negotiable. You could have negotiated the sticker price or money factor. You’ll have to see how car prices are when your lease is ending to find out if the residual value is a good deal or not. Currently with the car market on a huge high most cars coming off leases are worth far more than their residual value.

[Anonymous]

Thank you! Helpful response.