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I'm looking at leasing a car, and an ad in the paper at Dealer A says $XXX per month with $0 due at signing, which seemed too good to be true. I went down to Dealer A and they pretty much confirmed the ad, have the vehicle in stock, etc. But we never actually got down to "the table" where they present the final costs. I left them my phone number and went to other dealerships.
So I go to Dealer B and tell them about the deal at Dealer A, and they say that's way too low and that Dealer A isn't telling you about all kinds of fees they're planning on charging me.
So, I ask, other than tax (of course), what other fees could Dealer A spring on me at the last minute, thus making the deal too good to be true? Like what else is there, I've heard of a bank fee but that sounds made up? Obviously I'll pay for registration on the spot and the 1st month's payment of the quoted $XXX per month + tax. Thanks.
Not sure I can help you, but we did a $xxx monthly price we zero down. My husband is an engineer and sat down with the finance guys and made them go over every single number on the sheet, where it came from, etc, before signing anything.
With you living in California there could be a number of "extra" fees applied. When the dealer say 0 due at signing, it means that the dealer doesn't require a down payment on the lease, however, they can charge what is called "doc fees" they charge you to fill out the paper work. They may charge you "shipping and handling" fees. They may also add in "dealer prep" charges. In California the doc fees are set at 80.00. You can try and negotiate with the dealer on the added fees. Good luck
Not sure I can help you, but we did a $xxx monthly price we zero down. My husband is an engineer and sat down with the finance guys and made them go over every single number on the sheet, where it came from, etc, before signing anything.
Thanks, yeah I would definitely look over each number before signing. But I'm just wondering what else they could spring on me (bait & switch). If the ad says $250/month + tax, why would it not be that? I have kind of a poor opinion of these car salesmen/saleswomen types (though, to be honest, they've been pretty fair up to this point), and am always wary about their tactics.
Thanks, yeah I would definitely look over each number before signing. But I'm just wondering what else they could spring on me (bait & switch). If the ad says $250/month + tax, why would it not be that? I have kind of a poor opinion of these car salesmen/saleswomen types (though, to be honest, they've been pretty fair up to this point), and am always wary about their tactics.
One of the things to also look at, in the ad did it reference a specific lot number, this is typical of a number of dealerships just to get you on to the lot. Then they will tell you that this lot number has already been sold but they will work with you on another car.
With you living in California there could be a number of "extra" fees applied. When the dealer say 0 due at signing, it means that the dealer doesn't require a down payment on the lease, however, they can charge what is called "doc fees" they charge you to fill out the paper work. They may charge you "shipping and handling" fees. They may also add in "dealer prep" charges. In California the doc fees are set at 80.00. You can try and negotiate with the dealer on the added fees. Good luck
Thanks Terry, and you're right, I just scanned the newspaper ad. The fine print at the bottom reads "All advertised prices exclude government fees and taxes, any finance charges, any electronic filing charge, $80 dealer document processing charge, and any emission testing charge."
So, any rough idea how much the electronic filing charge and emission testing charge are?
One of the things to also look at, in the ad did it reference a specific lot number, this is typical of a number of dealerships just to get you on to the lot. Then they will tell you that this lot number has already been sold but they will work with you on another car.
Hmm, interesting stuff. I don't see lot number reference, but I'll continue scanning this thing.
I did just call the dealership though, and the sales guy said that the emission testing charge wouldn't apply to a new car. But he wasn't too clear about the other charges, obviously they're going to say those charges are "minor".
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