Dealer changes residual value

wespt1922

Had an instance where right after the initial paperwork was signed for a lease - I decided to put more $ down on the lease. After looking at the "new" paperwork (and still having a copy of the "old", discovered they didn't change the monthly lease payment but instead changed the adjusted cap and the residual value and kept the lease payment the same. Is this illegal or just not ethically right?

kyfdx

wespt1922 said:

Had an instance where right after the initial paperwork was signed for a lease - I decided to put more $ down on the lease. After looking at the "new" paperwork (and still having a copy of the "old", discovered they didn't change the monthly lease payment but instead changed the adjusted cap and the residual value and kept the lease payment the same. Is this illegal or just not ethically right?

If you put more money upfront, why would you accept the same lease payment?

If it is the same vehicle, term and mileage, and the same leasing bank, the dealer can't alter the residual.

Without seeing the paperwork, can't really tell you what happened. But, so far, none of that makes sense.

wespt1922

I missed that the monthly charge didn't change. How can I send you both signed copies of the Lease Agreement? So you can help explain this to me.

kyfdx

wespt1922 said:

I missed that the monthly charge didn't change. How can I send you both signed copies of the Lease Agreement? So you can help explain this to me.

You are posting in two discussions. Did you recently make a deal? Or is this a previous lease?

If this is a previous lease, then it doesn't matter what we say, it's over and done with.