Getting out of horrible lease - '14 Lexus GS350 48Months

snotchy

Hi,

2012 4 (Grey GS)
2013 12 (Black GS)
2014 4 (White GS)
2015 12
2016 12 (present day)
2017 12
2018 8 (lease ends)

This salesman at Lexus in my area offered me a great monthly lease deal awhile back in 2012. The lease term was 3 years lease, no money down, paid for my registration and offered me first year service/maintenance all with a lease payment of $650/month. The 2012 Grey GS350 came with fully loaded options and $650 at that time was worth paying for - I pulled the trigger and signed a 36 month lease in August of 2012.

Around August of 2013, the same Lexus salesman called me that he has a great offer for his VIP customers. Essentially, I'd get to keep the same payment, however I needed to come in to the dealership and sign some paperwork. Turns out it was a new lease agreement. I liked my current car at that time but this time I decided to get it in a different color; my wife thought the color black/flaxen interior was a good color scheme. Of course, the options and everything else was the same as 2012 GS350. The lease term for 2013 Black GS350 was again for 36 months but this time he offered me a lease without re-extending the original lease. Meaning, even if a similar deal come up for the newer GS the following year, the months that I leased will count towards 3 years lease.

Around August of 2014 (I know what you're thinking), you guessed it, the same salesman called me to offer me the same VIP lease deal with his customers and asked me and my wife to come see him at the dealership. I went in for my 10K service towards the end of the month to meet with him, sat down, signed paperwork and assured from him that this will be my 2nd year of 36 month lease.

Last week, I went in for a service and found out the same sales guy was fired from his job months ago. I asked why and other employees didn't give me a reason; some said he left on his own accord and some didn't really give me a reason. Oddly enough, I came home to sort through my leasing paperwork, I found out that not only this same salesman did not keep his promise of not re-extending the 36 month lease but he gave me an entire new 48 month lease with the start of 2014 White GS350. 48 not 36 months! Are you kidding me? It wasn't like he was keeping my lease the same. He signed me an additional year with my original 36 months. On top of this, my lease restarted starting with 2014 GS.

I called Lexus Financial and basically the lease is a contract and that it must be honored. There were no buts and ifs with them as all they know is the paperwork in front of them. Okay, pointless, so I called the dealership, spoke to several managers and since they were not aware of what was happening with my lease, only evidence that they know of is my current existing lease of 48 months with the 2014 White GS. When the car's lease matures, then I'd have to pay the penalty to end it early or option to finance or lease another Lexus.

Had I've known I'd be stuck like this with, well, now a bad lease, I would've never signed any paperwork. This baffles my mind. I feel like no one could help me at this point. So far, I've spent $150+ listing it on Swapalease. I even punched in the numbers to see if the car could be bought, with the intent to sell the car via online or trade in for something else. So, purchase the remaining balance of my lease from Lexus, and see it to the public. I mean, GS runs smooth and I definitely like how it drives. However, even if I want to get out of this lease with load of payments leftover, it'd cost me $33,000+ cash to buy the car outright. That's how much it is left over on my car.

I genuinely thought I was signing for 36 month lease, not 48. So, this could've been a bilateral mistake, from the salesman and from myself. Therefore, is there a law or inside the lease agreement that a lease or a contract such as this can be invalidated? Forget what's been said between me and the sales guy at this point. What are my options? Please help!

I trusted him to honor his words so I didn't think much of what I had in my glove compartment at that time. Either way, is there a way to end this lease peacefully? A lawsuit perhaps? I really want to avoid the latter option.

texases

You may be stuck. Live and learn-you failed to read the paperwork you were signing. 

kyfdx

You still get the use of the car for 48 months. You may be "stuck" with the car, but it's not money wasted.

Salespeople sell cars. They aren't fiduciary agents, tasked with putting your financial well-being ahead of their own. What's so bad about the lease, other than the extra year?

Michaell

I think you've done what you can, but as you've found out, you are contractually obligated to the terms of the contract you have signed.

Just ride it out .. heck, you are driving a great car for what I assume is a decent payment. As my co-host noted, what's so wrong with the lease other than the 48 month term?

Why do you want to end this lease early? Spite? Frustration?

texases

Swapping out leases like that is a recipe for financial disaster, regardless of the salesman.

snotchy

All three of you guys are right; especially the part that it was my sole responsibility in the end. And I feel like this is where it all comes down to - only I can be responsible for myself and I will never trust anyone too much.

@Michaell Well, for one, I introduced my families and friends to the same sales guy. I could easily say that I introduced people to get over 25+ Lexus with him in a span of less than five years. Simply put, I trusted him. A little too much. Although the car that I still have is a good one, my family grew with two kiddos and now another one is on its way as early as next month. My wife and I now need a bigger car (mini-van, SUV, at least 7-8 seater or 3rd row). My wife currently drives (you should probably know the make of the car by now) GX460. For about 6 months or so it's highly unlikely that we won't be needing a bigger car until our third one is a little bit more active yet my guess is that we need a new car real soon. It complicates a little bit on my end.

Michaell

snotchy said:

All three of you guys are right; especially the part that it was my sole responsibility in the end. And I feel like this is where it all comes down to - only I can be responsible for myself and I will never trust anyone too much.

@Michaell Well, for one, I introduced my families and friends to the same sales guy. I could easily say that I introduced people to get over 25+ Lexus with him in a span of less than five years. Simply put, I trusted him. A little too much. Although the car that I still have is a good one, my family grew with two kiddos and now another one is on its way as early as next month. My wife and I now need a bigger car (mini-van, SUV, at least 7-8 seater or 3rd row). My wife currently drives (you should probably know the make of the car by now) GX460. For about 6 months or so it's highly unlikely that we won't be needing a bigger car until our third one is a little bit more active yet my guess is that we need a new car real soon. It complicates a little bit on my end.

If your other car is an SUV already, I think you'll be fine for the time being.

Don't beat yourself up too much about this; consider it a lesson learned, and move on.