Hello
I need some help. Since the first Salesman messed up (By not adding all the features I wanted) my initial CM order with white wheels, they ordered me a new one, but unfortunately white wheels were no longer offered anymore.
Dealer promised to exchange the wheels for free from another car that had them and also gave me price reduction for the car. But due to circumstances that occur after the car arrived months after, they no longer could switch out the white wheels because they sold the car to a customer.
So all they could do for me at that point was to offer me a coupon worth $400 to make up for the wheels. I can just use it weather to get it painted or buy white rims.. or perhaps use it to buy accessories from MINI… They even recommended me the company that can add a Backup Camera to the car since I kept asking if the new 14” would include a backup cameral like the regular hardtop. Since it did not include, they referred me to a shop that could do it…
I am encountering a problem now. I just found out from Mini Financial that adding After-Market products would be a big problem and would cost me a lot of money after returning the car. I had no idea about this and I was even advised by the dealer where to get them done, which is a little confusing since they never even mentioned about being charged having them added. I even asked them it is not bad to add these while leasing, they said it is not… Knowing I was ignorant, why could not they have the initiative to even tell me to somehow help me not end up pay more, knowing I wanted to save in every way….I feel so bad now…
So I am leasing the car with after-market stuff added- Back up camera, painted wheels, tinted windows…

I spoke to customer relations and I told them the whole story. They told me they can speak to the dealer on my behalf and asked me what I would possibly want out of all this. I told them if there is any way to just buy the car and not lease it. I have had the car for just 4 weeks with 200 miles (given I cannot drive the car more than 7500 per year). That is another issue I had to deal with the dealer. Because I was under the impression I would be given 10-12k per year, but the contract my consignee signed was 7500. So technically we have to abide by what the contracts states…

What I am hoping is that there is a way to just buy and own the car and do whatever with it, but not pay the whole pricing on the lease that includes the residual value. Cause they told me I could definitely buy the car but I have to buy out the lease…Meaning I am paying the residual value… it is 5 to 6k more less if I had bought the car in the beginning and not opted to lease. I now regret. Because they never told me about the charges I will incur for having these add-ons…
How I wish they can help me amend the contract and make me buy it. I am willing to give extra down payment to just reassure them I will finance the car, but I guess that is no longer an option because they would rather make more money from me if I bought the car from the lease contract with the residual value….

The car costs about 36k…. this is what I have done so far for the lease….-
10k deposit before picking it up
270 a month for 36 months
And 21800 for the residual value…

I could have used the extra thousands that is going towards the lease for the extended warranty plan they would have offered me if I just purchased the car.

I hope anyone of you guys can help me in any way. I know there is no hope to this since everything is on the contract. But given all the circumstances I had to go through, can they adjust somehow and have leniency?

Thank you guys. I am just a new car buyer who is ignoraant. How I wish I had known all this. I trusted easily....


This is another thread explaining some issues I have encountered..

https://www.northamericanmotoring.co...ml#post3888271

 

Well you signed the contract. At this point they don't have to let you out of it. If I were them I would rather let you buy it if that makes you a happy customer. But who knows... They are a company so I'm sure making money has a lot to do with it and then it would be in their best interest to keep you in the lease.

Leasing is only good if you never want to own a car, but you would rather make continual payments and get a new car every couple years without going further into debt.

Buying is better if you want to own a car, in the long run save money if you are willing to keep it until it NEEDS to be replaced, or modify a car.

Leasing is the same whether it's a car, apartment, house ect... You can't modify it unless the owners(Mini in this case) say so on paper!

However things such as the tint and backup camera should be removable with no resulting damage and no one the wiser when it's time to turn the car back in. And the wheels. Get them painted back to original before you give it back.

If they don't let you out of the lease, you may want to look into this before turning the car back in and find out if it would be cheaper to pay other companies to return it to stock, or pay Mini the difference. Can't cost more to take it off than it cost to put in on...

 

http://www.swapalease.com/

Do yourself a favor and don't lease your cars in the future.

 

I remember your original thread. I'd take this whole mess as a rather expensive life lesson. Now you know to read the fine print, and to get everything in writing. A salesman will often say whatever it takes, (Sure, of course you can paint the wheels/change the suspension/tune the ECU/install a nitrous kit!) to close the deal.

There can be some pressure to sign these documents as soon as they slide them across the desk, but the sales/finance guys can wait. READ CAREFULLY. It's your money.

If you can get out of your lease by transferring it to someone else and start over, great. But would you lose your $10k deposit? Maybe the dealer will help you out and allow you to buy the car... but if those options don't make financial sense, just enjoy the car for the next 36 months, don't modify anything else, and as posted above, find out the cheapest way to deal with the wheel issue.

Good luck. At the end of the day, you've learned a few things and you've still got a nice car to drive.

 

Yikes! In a lease, you want to avoid putting money down to lower the capitalized cost. That is a major advantage of leasing, getting in to a new vehicle without having to make a substantial down payment. Plus, in the event you total the car, your insurance will not recover your $10K.

That 10K should have been used as down payment to PURCHASE the vehicle, not lease it.

Live and learn.

 

Yes, putting 10k down on a lease is unheard of. You should at the maximum be paying for tax/title/first monthly payment only.

A lease should NEVER have been an option in this instance.

 

Agreed! From LeaseCompare.com "":

Auto Lease 101
Putting money down on a lease

Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.

For example, a customer once leased a Toyota 4Runner and put $3,000 down as a cap reduction. Five months later the vehicle was totaled in an accident. The client's insurance paid its portion of the lease payoff and Gap Insurance paid the balance. Our client walked away with only paying his insurance deductible but he did not get reimbursed for his initial downpayment of $3,000. It was lost.
The moral of this true story is to put as little money down as possible, ideally no money down. Here are some other things to consider:

• Money down is taxable
• Take the money you would have put down and invest it
• Put your down payment in a savings account and use a portion each month to help make your lease payment