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Car Dealership

Lease Agreement

New York

Asked on Feb 17, 2022

Can I change my lease agreement with the dealer after purchase since they seemed to cheat

I just lease a new car. I went to the dealer 2 weeks ago, met with a lease specialist and signed a sketch lease agreement and paid $300 for deposit. The important thing is that we agreed on 0 down payment and $253 monthly payment. So on the lease agreement, the item "down payment" was written as "taxes + fees", but not specified how much will be charged. After 2 weeks, the car arrived and I went to pick it up. The original lease specialist was not there and another person took care of my lease. I trusted them and paid as they said, though more than I expected. However after I carefully read the new lease agreement later, I found that the down payment was not set to be 0, while the monthly payment remained the same. Besides taxes & fees totaling to $910, they set up "capitalized cost reduction" $2819, minus some rebates $1175, and charged me $910 + $2819 - $1175 = $2554. Later I called the dealer for an explanation but they said yes this is just 0 down payment, the amount I paid was due to blablabla. I don't believe them now - that $2819 "capitalized cost reduction" is used to calculate the residual value of the car at the end of lease. Doesn't that just mean down payment? I wonder if I can argue with the dealer and get my money back, add it to the residual value of the car. I have both copies of the lease agreement. Maybe I need the help of an attorney.

1 Attorney answer


Car Dealership

New York

Answered 215 days ago

Jane C.

ContractsCounsel verified

Business Lawyer
Licensed in Connecticut, District of Columbia, New York
Free Consultation

It seems that you paid the capitalized cost reduction to reduce you monthly payments.

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