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  #1  
Old 02-05-2009, 05:40 AM
my3carrs my3carrs is offline
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help with lease

hey everyone... my 1st post!
i just leased an 08 M3 sedan. i agreed to 12K miles per year over email when negotiating the deal with the dealership. they delivered the car to my house and when reviewing/signing the contract with the salesman i noticed that they put 15K miles per year in the contract. everything else was the same (MF, residual, monthly payment, etc.), just the milage had been changed from 12-15K/year (which is an even better deal for me!). i pointed this out to the salesman who acknowledged it and said this is what the contract says and proceeded to sign the contract (with it stating 15K/yr).
then 2 days later i get a call from the financial manager at the dealership who states someone made a mistake and put 15K instead of 12K. he wants me to sign a new contract with 12K now. he said that the contract is unacceptable from bmw financial b/c all other numbers were setup with 12K/year.

any advice on how to handle this?

thanks in advance!
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  #2  
Old 02-05-2009, 06:32 AM
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kyfdx kyfdx is offline
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Location: Kentucky
 
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Quote:
Originally Posted by my3carrs View Post
hey everyone... my 1st post!
i just leased an 08 M3 sedan. i agreed to 12K miles per year over email when negotiating the deal with the dealership. they delivered the car to my house and when reviewing/signing the contract with the salesman i noticed that they put 15K miles per year in the contract. everything else was the same (MF, residual, monthly payment, etc.), just the milage had been changed from 12-15K/year (which is an even better deal for me!). i pointed this out to the salesman who acknowledged it and said this is what the contract says and proceeded to sign the contract (with it stating 15K/yr).
then 2 days later i get a call from the financial manager at the dealership who states someone made a mistake and put 15K instead of 12K. he wants me to sign a new contract with 12K now. he said that the contract is unacceptable from bmw financial b/c all other numbers were setup with 12K/year.

any advice on how to handle this?

thanks in advance!

Well.... the residual amount is based on the mileage... If the mileage allowance doesn't match the residual, then BMWFS won't accept the contract, and it will have to be re-done. The car isn't yours until the contract is accepted by BMWFS. Since 12K is what you agreed to, and it is obviously a typo, just sign the new contract.

In other words, you can't get something for nothing.... at least, in this case.

regards,
kyfdx
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  #3  
Old 02-07-2009, 10:58 AM
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Bremen Ben Bremen Ben is offline
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Quote:
Originally Posted by kyfdx View Post
Well.... the residual amount is based on the mileage... If the mileage allowance doesn't match the residual, then BMWFS won't accept the contract, and it will have to be re-done. The car isn't yours until the contract is accepted by BMWFS. Since 12K is what you agreed to, and it is obviously a typo, just sign the new contract.

In other words, you can't get something for nothing.... at least, in this case.

regards,
kyfdx
This.

Or pay a higher payment if 15K is what you desire.
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  #4  
Old 02-07-2009, 01:05 PM
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tturedraider tturedraider is offline
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Originally Posted by bremen ben View Post
this.

Or pay a higher payment if 15k is what you desire.
+1
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  #5  
Old 02-07-2009, 05:25 PM
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jagu jagu is offline
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It happened to me too. Re-sign the lease to conform to your actual agreement. I'm sure it was an honest mistake. I actually caught it at first but I hoped that someone was really asleep.
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  #6  
Old 02-08-2009, 06:24 AM
vern vern is online now
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Quote:
Originally Posted by my3carrs View Post
hey everyone... my 1st post!
i just leased an 08 M3 sedan. i agreed to 12K miles per year over email when negotiating the deal with the dealership. they delivered the car to my house and when reviewing/signing the contract with the salesman i noticed that they put 15K miles per year in the contract. everything else was the same (MF, residual, monthly payment, etc.), just the milage had been changed from 12-15K/year (which is an even better deal for me!). i pointed this out to the salesman who acknowledged it and said this is what the contract says and proceeded to sign the contract (with it stating 15K/yr).
then 2 days later i get a call from the financial manager at the dealership who states someone made a mistake and put 15K instead of 12K. he wants me to sign a new contract with 12K now. he said that the contract is unacceptable from bmw financial b/c all other numbers were setup with 12K/year.

any advice on how to handle this?

thanks in advance!
Sign a new contract, it was based on 12,000 miles not 15,000. Good luck, enjoy your new ride.
cheers
vern
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  #7  
Old 02-12-2009, 09:07 AM
ub40gb ub40gb is offline
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Do the right thing and you will sleep better
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  #8  
Old 02-12-2009, 05:22 PM
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mclaren mclaren is offline
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Quote:
Originally Posted by kyfdx View Post
Well.... the residual amount is based on the mileage... If the mileage allowance doesn't match the residual, then BMWFS won't accept the contract, and it will have to be re-done. The car isn't yours until the contract is accepted by BMWFS. Since 12K is what you agreed to, and it is obviously a typo, just sign the new contract.

In other words, you can't get something for nothing.... at least, in this case.

regards,
kyfdx
This nails it. What's the problem here ?
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