Page 1 of 2 1 2 LastLast
Results 1 to 10 of 12

Hybrid View

  1. #1
    Join Date
    Aug 2014
    Posts
    11

    Default Seniors Taking for Ride at Dealership

    My question involves a consumer law issue in the State of: California

    Can your down payment on a car lease be used for other things.
    Our Down Payment = 3740.00 They used only 1524.00 for the down.
    The rest is used for: First month payment 339.97 Acquisition Fee: 1095.00
    Sales Tax 236.64 Registration Fee 233.00
    License Fee 188.00 Filing Fee 30.00
    Doc. Processing 85.00 Smog 8.00
    TOTAL 2216.00
    They created fraud when they sold us this car and I do not know who to go to...I have full documentation, text and video to prove it...please help

  2. #2
    Join Date
    Sep 2010
    Posts
    19,380

    Default Re: Seniors Taking for Ride at Dealership

    A "down payment" is usually money paid to reduce the principal. That doesn't mean that all the cash due at signing is such.

    Of the amounts paid there, the Aquisition Fee, Filing Fee, and Doc Processing looks like "Additional Dealer profit." Much of the rest looks like things you didn't much have any choice in paying. You owe the sales tax and you need the registration fees paid.

    This is only problematic if they didn't give you an accounting at the time you signed the purchase agreement.

  3. #3
    Join Date
    Oct 2006
    Posts
    15,901

    Default Re: Seniors Taking for Ride at Dealership

    Quote Quoting ginlee22
    View Post
    My question involves a consumer law issue in the State of: California

    Can your down payment on a car lease be used for other things.
    Our Down Payment = 3740.00 They used only 1524.00 for the down.
    The rest is used for: First month payment 339.97 Acquisition Fee: 1095.00
    Sales Tax 236.64 Registration Fee 233.00
    License Fee 188.00 Filing Fee 30.00
    Doc. Processing 85.00 Smog 8.00
    TOTAL 2216.00
    They created fraud when they sold us this car and I do not know who to go to...I have full documentation, text and video to prove it...please help
    The only thing that I would question there is the acquisition fee of 1095.00. All of the rest seems to be required.

  4. #4
    Join Date
    Oct 2016
    Posts
    3,473

    Default Re: Seniors Taking for Ride at Dealership

    If you agreed to those fees it is perfectly legal.

  5. #5
    Join Date
    Aug 2014
    Posts
    11

    Default Re: Seniors Taking for Ride at Dealership

    How do you know what those fees are?? I'm not a car salesman

  6. #6
    Join Date
    Oct 2016
    Posts
    3,473

    Default Re: Seniors Taking for Ride at Dealership

    Quote Quoting ginlee22
    View Post
    How do you know what those fees are?? I'm not a car salesman
    Who are you asking that question of? Most of them are self-explanatory.

    The acquisition fee is a fee that leasing companies charge to arrange the lease.

  7. #7
    Join Date
    Jan 2016
    Posts
    420

    Default Re: Seniors Taking for Ride at Dealership

    Quote Quoting ginlee22
    View Post
    How do you know what those fees are?? I'm not a car salesman

    1) Ask the finance rep at the dealership. If you still don't understand, don't sign the contract.
    2) Google it. If you still don't understand, don't sign the contract.
    3) Phone a friend. If you still don't understand, don't sign the contract.

  8. #8
    Join Date
    Aug 2014
    Posts
    11

    Default Re: Seniors Taking for Ride at Dealership

    Thank you for this answer. On the lease it says Acquisition fee (if not capitalized). Because we put a down payment on capitalized line and they took over a thousand dollars for Acquisition then is this line illegal in lease.

  9. #9
    Join Date
    Oct 2016
    Posts
    3,473

    Default Re: Seniors Taking for Ride at Dealership

    Quote Quoting ginlee22
    View Post
    Thank you for this answer. On the lease it says Acquisition fee (if not capitalized). Because we put a down payment on capitalized line and they took over a thousand dollars for Acquisition then is this line illegal in lease.

    You need to understand that in a lease "capitalized" means financed. If the Acquisition fee wasn't paid out of the "down payment" it would have been part of the monthly lease payment and accrue interest. So they saved you money in the long run.

    Generally, it isn't a good idea to make large down payments on leased vehicles.

  10. #10
    Join Date
    Mar 2013
    Posts
    17,400

    Default Re: Seniors Taking for Ride at Dealership

    Quote Quoting ginlee22
    View Post
    Thank you for this answer. On the lease it says Acquisition fee (if not capitalized). Because we put a down payment on capitalized line and they took over a thousand dollars for Acquisition then is this line illegal in lease.
    It's legal if it was there when you signed the paper.

    1. Sponsored Links
       

Page 1 of 2 1 2 LastLast

Similar Threads

  1. Service and Repair: Used Car Dealership Taking Us for All We Have
    By MelisanBrown in forum Cars and Dealerships
    Replies: 3
    Last Post: 07-07-2013, 06:26 PM
  2. Sales Agreements: Car Dealership Took Me for a Ride, I Want My Money Back
    By needadvise13 in forum Cars and Dealerships
    Replies: 2
    Last Post: 01-30-2013, 08:40 PM
  3. Sales Agreements: Accident at Dealership Before Taking Ownership
    By rubix in forum Cars and Dealerships
    Replies: 4
    Last Post: 12-30-2011, 05:37 PM
  4. Is this lawyer taking me for a ride?
    By condoVA in forum Buying, Selling and Conveying Real Estate
    Replies: 7
    Last Post: 01-27-2007, 04:01 PM
  5. Dealership recalled loan and is taking back the car
    By ih8cardlrshps in forum Cars and Dealerships
    Replies: 1
    Last Post: 02-02-2006, 07:40 PM
 
 
Sponsored Links

Legal Help, Information and Resources