[kevinkevin]

I recently leased a 328xi coupe and am very happy with it.

Last Friday, I got a call from my dealership telling me that I should receive a package soon. It arrived later that same day.

When I saw what was inside, I immediately called them for an explanation.

Turns out they wanted me to sign a new contract!

Only this time they want my dad to be co-lessee. He is currently my guarantor, which is fine with him.

He doesn't mind being a co-lessee, but I don't want him to sign it. I just got a new job and thought it's my chance to get a car under only my name.

What do you think would happen if we refuse to sign this new contract? Can they even force me?

I've been driving the car for a week now and already traded-in my old car. Will I end up losing both?

Need your help! Thanks!

[Nikki]

No, they can't force you to do anything. Just ignore it.

[SteveMD]

Hmmm.. Are the lease terms identical or are they trying to recover monies lost due to some mistake on their side?

Is it a BMWFS lease?

[Nikki]

This is a scam, they tried to do this to my friend when she bought her new MINI. Just ignore it!

[achien]

Originally Posted by SteveMD

Hmmm.. Are the lease terms identical or are they trying to recover monies lost due to some mistake on their side?

Is it a BMWFS lease?

+1, very suspicious, may be they "over-value" your trade-in car???

[kevinkevin]

Originally Posted by SteveMD

Hmmm.. Are the lease terms identical or are they trying to recover monies lost due to some mistake on their side?

Is it a BMWFS lease?

They look identical to me.

Only difference is the part where it says Guaranty where my dad's name used to be now has N/A.

And they want him to sign the Lessee Notices and Signatures area, right next to mine.

Yes, it is a BMWFS lease.

[SteveMD]

I know in Maryland, either party has 3 days to back out of a contract, signed or otherwise.

It sounds like it has at least been a week or more (I am aware that you are in VA).

Maybe one of the dealers on here can help. Otherwise, I'd post the question in the 'General Questions' forum on 'The Straight Dope' here: http://boards.straightdope.com/sdmb/

It is the second best message board in the world and I guarantee you an answer.

[dmboone25]

When you walked out the door with your original lease, the deal was done, period. You would be under NO obligation to alter the contract terms now--all the terms in the original are locked in place for the duration of the lease. If they determined after the fact that your particular contract needed a co-lessor, there is nothing they can do about it now.

[kevinkevin]

Thanks.

So they can't force me to sign this new contract and they can't terminate my existing contract, right?

[Driver72]

Originally Posted by dmboone25

When you walked out the door with your original lease, the deal was done, period. You would be under NO obligation to alter the contract terms now--all the terms in the original are locked in place for the duration of the lease. If they determined after the fact that your particular contract needed a co-lessor, there is nothing they can do about it now.

Exactly.
And they surely wouldn't be changing the lease if it benefited YOU and YOUR DAD. There is some benefit for BMW to be asking to change the lease.
Too me it sounds like a bad deal for your dad, who will now become financially responsible for the car.

Just send it back with a letter that states, "we are happy with our original lease agreement and do not want to alter it in any way, shape or form. Thank you."

Lord knows if YOU wanted to change something on the lease, they'd refuse it immediately. You have the same right.

[kevinkevin]

Originally Posted by Driver72

Exactly.
And they surely wouldn't be changing the lease if it benefited YOU and YOUR DAD. There is some benefit for BMW to be asking to change the lease.
Too me it sounds like a bad deal for your dad, who will now become financially responsible for the car.

Just send it back with a letter that states, "we are happy with our original lease agreement and do not want to alter it in any way, shape or form. Thank you."

Lord knows if YOU wanted to change something on the lease, they'd refuse it immediately. You have the same right.

I see. Makes sense.

Just wanted to check with the people here. Am new to this whole leasing thing.

Been financing my car with my dad as a co-signee since starting college.

Thanks.

[dmboone25]

Originally Posted by Driver72

Lord knows if YOU wanted to change something on the lease, they'd refuse it immediately. You have the same right.

That is exactly right--otherwise, what is the point of a contract? If BMW can just suggest changes whenever it fits their fancy, no one would bother signing a deal with them. The contract is a frozen instant in time, and usually cannot be altered without the consent of BOTH parties. You don't wanna change it--nothing they can do.

[Driver72]

Originally Posted by kevinkevin

Thanks.

So they can't force me to sign this new contract and they can't terminate my existing contract, right?

Unless the dealer or finance representative made a major mistake on the contract that makes it null and void, you have a legally binding contract that you and BMW's representatives agreed upon.
The only way to "terminate" a legally binding contract is if BOTH parties agree to it.

How long did you have the car before you were contacted about this new lease agreement?
Does it explain in detail why they want you and your dad to sign a new contract?

I guess you could sign a new contract if you wanted, but tell them only if they drop the price another $20 per month. New contract, new terms!

[kevinkevin]

Originally Posted by Driver72

Unless the dealer or finance representative made a major mistake on the contract that makes it null and void, you have a legally binding contract that you and BMW's representatives agreed upon.
The only way to "terminate" a legally binding contract is if BOTH parties agree to it.

How long did you have the car before you were contacted about this new lease agreement?
Does it explain in detail why they want you and your dad to sign a new contract?

I guess you could sign a new contract if you wanted, but tell them only if they drop the price another $20 per month. New contract, new terms!

I've had the car for 4 days.

They told me it has something to do with my income and credit history.

My thoughts exactly!

[Beerflakes]

I was called back in to re-
sign my lease... They made some mistake on the contract. The result actually ended in my monthly payment being a few bucks cheaper.

[JIMD1709]

These statements are not true. You need to read the contract. That contract does not mean anything until it is signed and accepted by the Dealer (GM) who will never sign it until it is funded by BMWFS. Also read your buyers order that you signed (it is a legal part of the deal) that will state the deal is not done until it is accepted by dealer (which they haven't done) or the bank (BMWFS, which has not accepted it either) It is not a done deal yet. I am sorry, but this is the truth.

On a side note. The Finance person who did your original contract screwed up. There can be no Guarrantor on a personal contract, unless the dealer signs recourse. (seperate issue altogether) That box is for coporate use. You Dad should have signed the co-leasee box to start with. Trust me, I have done finance for several years. They simply made a mistake. It's BS, but it happens. F&I guy didn't know how to do the deal properly.

Do not take advice from forum members who simply do not know lending laws!
Just because you sign a contract does not mean the deal is DONE. The are several other forms that go along with the contract that will say "this is part of the contractual agreement" one of them will say "upon acceptable terms" of the Bank, and the dealer. You do have leagl recourse....Bring the car back, or sign a contract acceptable to BMWFS. That is it. Ask a lawyer if you must, he will tell you the same.

Like I said, they had you sign in the wrong place. Work them for something, like an accessory or some money off, but if you don't sign a proper contract the car is not yours yet. Sorry for their mistake, but that is the truth.

[JIMD1709]

Originally Posted by Driver72

Unless the dealer or finance representative made a major mistake on the contract that makes it null and void, you have a legally binding contract that you and BMW's representatives agreed upon.
The only way to "terminate" a legally binding contract is if BOTH parties agree to it.

How long did you have the car before you were contacted about this new lease agreement?
Does it explain in detail why they want you and your dad to sign a new contract?

I guess you could sign a new contract if you wanted, but tell them only if they drop the price another $20 per month. New contract, new terms!

Again, not true. There are supplemental forms that he signed (read them) that state this is not the case. True, you do not HAVE to sign a new contarct if it is not acceptable....Simply return the vehicle. Tust me on this, it is shitty, I know, but legal.

It states clearly on the back of the contarct, and Buyers order that it is not a done deal until the bank accepts it.THE BANK. The dealer is merely a middle-man.

[kptaylor]

Exactly! Bad advice in this thread (except JIMD1709's) and will cause you to lose the car if you follow it...

[OC Guy]

Jimd is right. There are times where the customer has to return a car...

[Driver72]

Originally Posted by JIMD1709

Again, not true. There are supplemental forms that he signed (read them) that state this is not the case. True, you do not HAVE to sign a new contarct if it is not acceptable....Simply return the vehicle. Tust me on this, it is shitty, I know, but legal.

It states clearly on the back of the contarct, and Buyers order that it is not a done deal until the bank accepts it.THE BANK. The dealer is merely a middle-man.

Well, as I said in my post a couple up, unless the finance guy made a mistake that makes it null and void.
IF the finance guy DID make a mistake and they are required to sign a new lease, if I was the OP I'd renegotiate and get a lower rate.
Telling him you feel you are spending a bit too much on the car and my time and effort for having to come back into the dealer and sign a new contract is worth new terms.

Otherwise tell them you'll just give them the car back.
They do not want a "used" new car to have to be put back on the lot.
If the original documents are NOT finalized and a contract yet, then they can't force him to sign a "new" or "correct" one since there legally is NO contract as it stands at this point anyway.
They simply gave him a car for an extended (4 day) test drive.
Oops, guess they'll learn their lesson the hard way.
New deal, or no deal!

[kevinkevin]

So what should I expect to happen when I talk to them tomorrow?

What's my next move? Return the car? Re-negotiate?

If I do end up returning the car, do I get my old car back? It's a G35 coupe, by the way.

I don't know what I'm supposed to do now... all I know is that I don't want my dad to be a co-lessee.

:mad:

[kevinkevin]

Originally Posted by Driver72

Well, as I said in my post a couple up, unless the finance guy made a mistake that makes it null and void.
IF the finance guy DID make a mistake and they are required to sign a new lease, if I was the OP I'd renegotiate and get a lower rate.
Telling him you feel you are spending a bit too much on the car and my time and effort for having to come back into the dealer and sign a new contract is worth new terms.

Otherwise tell them you'll just give them the car back.
They do not want a "used" new car to have to be put back on the lot.
If the original documents are NOT finalized and a contract yet, then they can't force him to sign a "new" or "correct" one since there legally is NO contract as it stands at this point anyway.
They simply gave him a car for an extended (4 day) test drive.
Oops, guess they'll learn their lesson the hard way.
New deal, or no deal!

Hope you're right.

I don't want to lose the 328xi and G35. And I don't want to sign a new contract on their terms.

What will happen to my downpayment?