Is this a way out of my car lease?

I recently was able to drive away with my dream car, a 2007 Honda S2000 Convertible about a week ago. I know I should have done more research and consulted with others before buying the car, but I let emotions overcome my better judgment. After a few hours in the dealership, I drove the car off the lot after getting suckered into a 5-year lease @ $530 a month (including their warranty and factory alarm, which I grossly overpaid for as well).

I got a call back from the finance manager the other day saying he had a better term on a lease through Honda Financial that would only increase my payments by a little bit, and also cut the term down to 48 months. After reading through a lot of different websites, I was wondering if this is a manifestation of the %26quot;spot-selling%26quot; tactics I%26#039;ve come across.

If this is true, am I allowed to not accept their terms and either a) renegotiate to just purchase the car?

b) just return the car and cancel the deal and get my down back (any add. fees?)

Is this a way out of my car lease?

A %26#039;Spot Delivery%26quot; is one in which the dealership has a customer sign paperwork that basically states that the car is yours unless they are unable to find funds. You can also search for your own financing as an alternate option. This practice is used when the dealership was not able to reach a lender for an approval, or if they were unable to secure the conditions for an approval.

In your case, it sounds like the dealership did find a lender to fund your lease and most likely sent your deal to multiple lenders and received an additional approval which may be a better deal for you. If you are not required to go back to the dealership unless you want to explore this new option, then you were not %26quot;Spotted%26quot;.

A) Most dealerships would not renegotiate after you have signed contracts.

B) If they found a lender, which it sounds like they did, then leaving your car there would constitute a repo company calling you 3 months later. I hope this clears things up for you!

Is this a way out of my car lease?

Drive it off a steep cliff.

You%26#039;ll be imprisonned for fraud for 20 years, but it%26#039;ll make a great splash and your friends will be impressed.

Is this a way out of my car lease?

First off, you didn%26#039;t get suckered into anything, you must say yes, and hand over cash in order to get the car.

If you already signed the contract and picked up the car, most dealers will not allow you to return the car for a refund, there is no such thing as a cooling-off period in auto sales. As far as changing the contract, as long as the dealer has not sent anything in, you can rearrange the contract with the finance manager, maybe, they really aren%26#039;t required to.

Is this a way out of my car lease?

If they cannot get an approval at the contractual terms then, no, you are not obligated to the car. They know this and now you do too. There could be several reasons why they didn%26#039;t get a 5 year lease approved but that doesn%26#039;t matter. You are free to renegotiate, accept a different offer or walk away without the car if you cannot agree on different terms.

It may be that they can get you approved for the 5 year lease but would rather have you in a 4 year lease; it could be better for them, you, the salesman, the car, whatever. If that%26#039;s the case then you cannot get out of the lease.

So, if they can meet the terms of the contract, you%26#039;re stuck. Should%26#039;ve made better choices.

But, if they can%26#039;t get that lease (and the terms of your contract with them) approved, then you are not obligated to the car, the dealership or any portion of the deal.

You%26#039;d basically be starting fresh. There may be a small charge for using the car while they were trying to get you approved but that would most likely be negligible, especially if you%26#039;re lucky enough to not get approved for that 5 year lease and able to get out of that contract.

Ask the dealership.

DO NOT SIGN ANOTHER CONTRACT THAT YOU%26#039;RE NOT COMFORTABLE WITH.

Is this a way out of my car lease?

If you already signed the contract then you gotta keep the car..

Is this a way out of my car lease?

It appears that the dealer is not simply offering you an alternative better deal, he couldn%26#039;t get his finance company to approve your five-year lease. As such, you don%26#039;t have deal, although you%26#039;re driving the car around. The car still belongs to the dealer.

Technically, you can refuse the new deal and return the car, although the dealer will fight to his last breath to keep that from happening. The easiest approach would be to learn about leasing really fast (see http://www.leaseguide.com/index2.htm) and negotiate the new 4-year deal. You were REALLY getting ripped off with a $530 payment on a five-year lease. That%26#039;s almost criminal.

Is this a way out of my car lease?

You may be in luck! I assume that you%26#039;ve signed the loan papers, (lease papers). If you didn%26#039;t you don%26#039;t owe squat. If you did apparently the dealer couldn%26#039;t get the deal approved as you signed for. The dealer was attempting to make a few extra bucks. Now they%26#039;ve got a car burning gas and no valid contract signed. The dealer did NOT find a better deal for you. They%26#039;re trying to bail out of a screw up. Take the car back to them. It%26#039;s theirs! You are entitled to a refund, though the dealer won%26#039;t be quick to comply.