Lease contract mistake

synapticfire · 03-23-2006, 12:02 AM

Okay, so I rather impulsively leased a 325i yesterday. From reading the forums here afterwards, I see I got a pretty average deal. Nothing special.
Finance guy calls me up today and tells me they accidentally put down 15K miles a year instead of 12K on the contract and wants me to come in and sign another contract. So what should I do?
Option 1:
"Okay, honest mistake, I'll sign another contract..."
Option 2:
"I'm doing you a big favor fixing your mistake, what's in it for me"
Option 3:
"Tough shit, you signed it, I'm keeping the 15K miles."

Opinions?

I'm gonna be pissed if I sign a new contract and get screwed come lease end time for over miles.

Collanrf · 03-23-2006, 12:18 AM

It's already signed, it's done deal. But, if that was you who wants to change it. I guarantee they won't change anything.

synapticfire · 03-23-2006, 12:32 AM

Let me clarify...
I got 15k miles for the price i negotiated for 12k because the finance guy typed in the wrong stuff.
I'm trying to decide if I should keep my word or take the error in my favor and run with it.

DILLIGAF · 03-23-2006, 12:32 AM

Quote:

Originally Posted by Collanrf

It's already signed, it's done deal. But, if that was you who wants to change it. I guarantee they won't change anything.

Exactly...if you found a mistake they made after you already signed and it worked against you I'm not so sure they would help you. So I guess you can just leave it be and hope they don't try some other way to get that money back. OR just go back get a feel for if they will give you something else for signing the correct contract. Especially considering now that you think you got an average deal.

synapticfire · 03-23-2006, 12:35 AM

Good points all.
Can anyone think of a way they could screw with me if I tell them tough shit? (I'll sugar coat it of course

)

kickpoint · 03-23-2006, 03:56 AM

That's a tough one. While yo uprobably have the right to keep your deal, If you were expecting to pay what you are paying from 12k per year, then you might just have to be an honest and good person, and resign. Maybe ask for a little soemthing for the inconvenience of having to come back in.

marketman · 03-24-2006, 12:05 AM

Work them for a thermos coffee flask and a leather M3 Jacket.Settle for the thermos or the jacket and resign.

Don't drink coffee ? Get the rubber mats to match your interior.

Certainly if you think you got an "average" deal !

marketman · 03-24-2006, 12:12 AM

How many miles do you realistically expect to use?

synapticfire · 03-24-2006, 02:14 PM

I really only need 12K anyway so it's not a huge deal.
I actually just got back from the dealer, had to get the car detailed because the shop was closed when I bought it.
I signed the new lease. They've all been really nice anyway, decide to keep the good will going. I asked for a small return of the favor. They just called and said they'd give me a hat. I'd rather something a little more substantial, but whatever.
Thanks for the support, kids.
-sf

Ethirtynine · 03-24-2006, 06:20 PM

They're really nice, but they're giving you a hat? Amazing

selm · 03-24-2006, 06:33 PM

What is the residual value as stated on your contract? I am assuming a 36 month lease for the following comments.

If it is 62% (15k residual) of the MSRP and states 15k miles per year, then you were just a nice guy for helping them out. If it was 64% (12k residual) and states 15k miles per year, then BMW Financial will not accept the contract as valid as they will recognize the mistake, and I believe that had to sign the new contract. I am curious as to what it was.

larryn · 03-25-2006, 07:21 AM

Quote:

Originally Posted by selm

If it is 62% (15k residual) of the MSRP and states 15k miles per year, then you were just a nice guy for helping them out. If it was 64% (12k residual) and states 15k miles per year, then BMW Financial will not accept the contract as valid as they will recognize the mistake, and I believe that had to sign the new contract. I am curious as to what it was.

Great point. I wonder what the terms were.

You may also have a 3rd option.. since you say you did this "impusively", you may have the option to back out totally, if they want to void the original agreement.

At a minimum, I'd want more than a hat for their screwup.. like wintermats, or the spoiler.

synapticfire · 03-25-2006, 08:43 AM

Quote:

Originally Posted by selm

What is the residual value as stated on your contract? I am assuming a 36 month lease for the following comments.

If it is 62% (15k residual) of the MSRP and states 15k miles per year, then you were just a nice guy for helping them out. If it was 64% (12k residual) and states 15k miles per year, then BMW Financial will not accept the contract as valid as they will recognize the mistake, and I believe that had to sign the new contract. I am curious as to what it was.

It was the latter. BMW Financial didn't recognize it as the residual was off.
Aren't you the smart one, selm!

synapticfire · 03-25-2006, 08:44 AM

Quote:

Originally Posted by Ethirtynine

They're really nice, but they're giving you a hat? Amazing

"Nice" != "Free shit"
but
"Free shit" = "Nice"

03-23-2006, 12:02 AM	#1
synapticfire New Member 0 Rep 8 Posts Drives: 325i Join Date: Mar 2006 Location: Atlanta iTrader: (0)	Lease contract mistake - resign? Okay, so I rather impulsively leased a 325i yesterday. From reading the forums here afterwards, I see I got a pretty average deal. Nothing special. Finance guy calls me up today and tells me they accidentally put down 15K miles a year instead of 12K on the contract and wants me to come in and sign another contract. So what should I do? Option 1: "Okay, honest mistake, I'll sign another contract..." Option 2: "I'm doing you a big favor fixing your mistake, what's in it for me" Option 3: "Tough shit, you signed it, I'm keeping the 15K miles." Opinions? I'm gonna be pissed if I sign a new contract and get screwed come lease end time for over miles.
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03-23-2006, 12:18 AM	#2
Collanrf Major 86 Rep 1,125 Posts Drives: BMW 335i, Alpine White M Sport Join Date: Nov 2005 Location: San Diego iTrader: (2) Garage List 2011 BMW 335i [0.00]	It's already signed, it's done deal. But, if that was you who wants to change it. I guarantee they won't change anything. __________________ /// 2011 E90 335i M SPORT, ALPINE WHITE/// STEPTRONIC /// ZENON HEADLIGHTS/// 35% TINTS ALL AROUND /// 19 INCH BBS LM REPS ///BLACKED OUT ROUNDELS /// BLACK OUT GRILLS/// ACS ROOF SPOILER /// M3 REAR SPOILER /// LTMW INSTALLED (VOLLKOMMEN) M SPORT FRONT LIP /// BMS INTAKE///
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03-23-2006, 12:32 AM	#3
synapticfire New Member 0 Rep 8 Posts Drives: 325i Join Date: Mar 2006 Location: Atlanta iTrader: (0)	Let me clarify... I got 15k miles for the price i negotiated for 12k because the finance guy typed in the wrong stuff. I'm trying to decide if I should keep my word or take the error in my favor and run with it.
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03-23-2006, 12:35 AM	#5
synapticfire New Member 0 Rep 8 Posts Drives: 325i Join Date: Mar 2006 Location: Atlanta iTrader: (0)	Good points all. Can anyone think of a way they could screw with me if I tell them tough shit? (I'll sugar coat it of course )
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03-23-2006, 03:56 AM	#6
kickpoint Enlisted Member 0 Rep 42 Posts Drives: Jet Black 325i Join Date: Mar 2006 Location: Baltimore, MD iTrader: (0)	That's a tough one. While yo uprobably have the right to keep your deal, If you were expecting to pay what you are paying from 12k per year, then you might just have to be an honest and good person, and resign. Maybe ask for a little soemthing for the inconvenience of having to come back in.
	Appreciate 0 Quote

03-24-2006, 12:05 AM	#7
marketman Private First Class 3 Rep 153 Posts Drives: 2000 323it Join Date: Jan 2006 Location: Melbourne FL iTrader: (0)	Work them for a thermos coffee flask and a leather M3 Jacket.Settle for the thermos or the jacket and resign. Don't drink coffee ? Get the rubber mats to match your interior. Certainly if you think you got an "average" deal ! __________________ Live now. THere will be plenty of time to be dead later.
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03-24-2006, 12:12 AM	#8
marketman Private First Class 3 Rep 153 Posts Drives: 2000 323it Join Date: Jan 2006 Location: Melbourne FL iTrader: (0)	How many miles do you realistically expect to use? __________________ Live now. THere will be plenty of time to be dead later.
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03-24-2006, 02:14 PM	#9
synapticfire New Member 0 Rep 8 Posts Drives: 325i Join Date: Mar 2006 Location: Atlanta iTrader: (0)	I really only need 12K anyway so it's not a huge deal. I actually just got back from the dealer, had to get the car detailed because the shop was closed when I bought it. I signed the new lease. They've all been really nice anyway, decide to keep the good will going. I asked for a small return of the favor. They just called and said they'd give me a hat. I'd rather something a little more substantial, but whatever. Thanks for the support, kids. -sf
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03-24-2006, 06:20 PM	#10
Ethirtynine Second Lieutenant 6 Rep 223 Posts Drives: 2004 Honda S2000 Join Date: Oct 2005 Location: Colorado iTrader: (4)	They're really nice, but they're giving you a hat? Amazing
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03-24-2006, 06:33 PM	#11
selm Fight On! 8 Rep 236 Posts Drives: 2006 325i Join Date: Aug 2005 Location: SD, CA iTrader: (0)	What is the residual value as stated on your contract? I am assuming a 36 month lease for the following comments. If it is 62% (15k residual) of the MSRP and states 15k miles per year, then you were just a nice guy for helping them out. If it was 64% (12k residual) and states 15k miles per year, then BMW Financial will not accept the contract as valid as they will recognize the mistake, and I believe that had to sign the new contract. I am curious as to what it was.
	Appreciate 0 Quote