Nov 11 2008
Dealer Tricks -Leasing a Vehicle
It would be a good idea as well as wiser to lease a vehicle from a car dealer and/or automaker rather than from a private leasing company. In some cases when it is time to turn your vehicle in, the dealer may give you more of a “break” on how much of the “wear and tear” deposit you get back, especially if you buy or lease another vehicle from the same dealer.
Car dealers know up to 30 or more ways to potentially trick and deceive car buyers! Of course, there are some federal regulators that try to curb widespread deception. However, salespeople for dealers may withhold information, make false or misleading claims about leasing obligations and even possibly engage in illegal “bait and switch” sales tactics concerning the exact models of cars being offered on an advertised deal. They may as well confuse car buyers about leasing terms of the sales contract.
Despite the regulation attempts, dealers are still able to encode lease terms in confusing language and withhold key financing terms. Which may be even worse, dealers are not even required to provide certain pertinent information until the customer is ready to sign a contract. Beware of “subvented” leases which are equivalent to the industry’s “blue plate specials”. Automakers, dealers and some leasing companies may offer low price leases on certain vehicles. The trick is only a few of these cars are fully loaded with options at the advertised cut- rate or discounted terms. Remember, possibly 8 out of 10 salespeople may not even disclose terms of the lease beyond the monthly payment. Always tell the salesperson you will not be ready to buy until you can compare the terms with the dealer’s competitors.
