red00tl

(I live in Vancouver, BC, Canada, and situation maybe a bit different in the states.)

This afternoon I signed a lease deal on a '09 RDX, but I'm having second thoughts about it.

The lease price itself was pretty good; too good to pass up and that's why I signed it.
But I'm having some second thoughts about the lease deal itself whether I should take out a new lease right now or not.
My intention was to buy/lease a new car in March 2009, and today I only went in to take a closer look at RDX.

The car in question is still at the dealership and I haven't even touched it.
They'll start doing PDI on it tomorrow.
They did charge my credit card for the first payment of the lease though.
(At the time of this writing it's been only 3 hours since I signed the deal.)

Anyway, my question is: Can I back out of the lease deal now if I called them tomorrow? I think there's usually a grace period of some sort for a big purchase decision like this.

TIA

rp_guy

nope.. you back out of the contract and they'll sue your ass off.

Russell The Love Muscle

I know that there was a 3day thing by me that I did once, but I've heard that that's since been discontinued...

Flipster23

iTrader: (15)

ummm call them and ask, you havent took delievery of the car yet. So i dont see why you wouldnt be able too. And its not real hard for them to charge ur credit card back.

But yea that always happens its a lesson never go look at a car if u dont on intending to buy it yet LOL!

phee

iTrader: (5)

talk to them and they may work with you. since u havent taken delivery

totaledTL

Read the lease contract.... it's bound to be in there.

red00tl

Sorry about the confusion but this is my first lease.

Two things I signed while at the dealership today: a price offer to manager and a finance/lease application to Honda. I don't believe either was a proper lease contract.

They charged my credit card as a deposit and I expect to sign the proper lease contract when I pick up my car. (The manager said, "the lease will start when you pick up your car.")

I believe I can talk to them to work with me, but I just wanted to make sure that I wasn't fully in their power.

RDXtremist

have you also signed a purchase agreement which entails the purchaser info, the agreed pricing, and most importantly, the VIN number?

i sure hope not because that would be the official contract between you and the dealership. even though today's sunday and they will not be able to complete the finance/lease application.

good luck. this is a great car after all.

Gfaze

It sounds like you haven't signed any type of lease contract. A price offer sounds like you agree to the price/terms they are offering, it's not a binding lease agreement. It's just a sales tactic to make you think that you're committed to the sale. Same goes for the "deposit". That should be refundable unless you signed something saying otherwise. The finance application you signed can be approved and you don't have to buy anything. This is assuming Canada has similar business laws to the US.

wrestrepo

I put a "deposit" in my car that was noted to be fully refundable, it simply took my car out of the inventory temporarily while I made the decision of buying or not...That's likely what you did....but every dealership works differently...

cwepruk

You can turn back. A dick dealer will try to keep your deposit (It's happened to me), but 99% will give it back.

I had to fight for over a month to get $500 back from a dealer before. Such a dirty trick to hold peoples deposits.

red00tl

Thank you all for your inputs.

This dealership is a reputable one in Vancouver where I had first purchased my '00 TL 8 years ago. The RDX is a great car that I really like, and the dealership did give me a good deal on it.

My problem is that I wanted to buy/lease it in March 2009 with my '00 TL as a trade-in, but somehow in the heat of excitement yesterday they pressured me into tentatively agreeing to a no trade-in deal starting in December 2008.

Now I want to renegotiate with them to take my TL in, but, if they flatly refused to or offered an amount too unreasonable (I know my car doesn't worth a dime these days), I would like to scrap the whole deal and do it again in March.

So I wanted to make sure that I wasn't fully in their power, as this is my first lease deal I wasn't too clear about how it supposed to work. I've been buying cars with cash for the last 20 years and I tend to keep my cars for 7-8+ years.

Anyway, I'll call the dealership today and hopefully we'll come to a compromise that can satisfy both parties.

Flipster23

iTrader: (15)

Well if they dont do it today just no that they might not do it in March because your going to lose value you in you car. I used to know how to see how much you lose a month in value but forgot how to do it.

red00tl

Happy to report that all difficulties were resolved to mutual satisfaction and now I have a '09 RDX.

Was sad to see my old TL go, but I guess it was time to move on.

Thank you again for your inputs.
Turned out I wasn't even close to being legally bound to the lease and the dealership even had a "Sleep on it and decide within 24 hours" kind of thing that gives you 24 hours AFTER signing the lease contract to change your mind.
So I was safe either way.

gtrrdx

Glad to hear everything worked out OK. Congrats on your new ride.