mdt0034

Ok, I don't have any pics of it yet cuz I just bought it yesterday but I want your guys' advice on what I should do.

I had a 2004 TL with about 46,000 miles on it.... warranty was almost up.

I went in for a $60 oil change and walk out with a 2007 TL-S for $40,000. (I bought the royal blue pearl with the tannish-white interior, 5 speed AT, with 50 miles on it.)

This is my problem.... And PLEASE be honest with me... I'm thinking about taking it back because I'm only allowed 10K miles a YEAR! That's like them saying "congratulations on your purchase but we don't want you to drive it!!" The lease is for 3 years and my payment is $680/mth.

When I bought my used 04 TL in October of 2005, I drove it off the lot with 24,500 miles on it. As of yesterday it had close to 46K on it. I drive ALOT. There's no way I can keep it under 10K a year!

Oh, and they gave me $22,500 for my car when I owed $26,000 on it. DUMB!!

Not to mention that I put $3000 down, on my credit card!

I know I could probably make the payments but I would have no life whatsoever! And I won't be able to drive it anywhere cuz I'm too afraid to go over the mileage I'm allowed.

Tell me what all of you think. I know I'm probably stupid for leasing this car but its just so freaking pretty!!

johnny--2k

yikes....I would definitely go back and renegotiate the terms of the lease to include more mileage. Plus, dont they have special financing right now on the TL's? I thought they were running 2.9 or 3.9% for 48 or 60 months.....

onsknth

They saw you coming, eh?

I have no advice other than you need to brush up some on elementary mathematics... I could understand if you were like 18-20 but @ 31 you must have been asleep for the past 13 years, cause it appears you've learned nothing about adulthood.

mdt0034

ok, I know I asked you to give me advice on the car but I did not ask you to personally attack me, onsknth. I saw the car and my eyes got big. I know I probably made a mistake but you didn't have to go that far.

Anyways, I'll probably be taking the car back. Since I'm not 20 years old and I should know better, right?

Its all good......

NYRecceman

Wow not to harp on this further but you did not get a good deal, your taste in cars is excellent, but your financials, not so good!

See if you can take it back, the lease they gave you is a real stinker, way to high a payment for way too few miles/yr, an probobly also based on list price But I can see how the car pulled you in, cars can be a addiction.

You should also consider getting some financial advice though. Maybe read one of Suzy Ormans books. Bring someone with you that has done this before.

Also keep in mind that you should never buy something the first time you see it. (goes for a lot of things). Get all the facts and then WALK AWAY to think about it, never make decisions in the heat of the moment. If a deal is good today it should be good tomorrow as well. If you need to bring a friend to drag you out if need be.

boxstock

hey mdt0034,

I'd see about taking it back if they will let you. It seems you paid too much for the 07, got too little for your trade and are paying too much per month on that lease. Don't beat yourself up though. Just remember from now on it's better to step back, do the research and make sure you get what you want at the price you want.

all the best,

boxstock

brettallica

Correct! I understand the impulse buy, though. I think you have 72 hours to go back on a signed contract, so you should probably act fast.

Good luck.

mdt0034

Thank you NYrecceman and boxstock. Yes, I agree, I shouldn't have bought it without taking the time to think about it. It just sucks cuz I drive way too much and 10k a year is nothing. I drove 22k in the year and a half I had the 04 TL.

Now I've heard from 3 people that I have 3 days to take it back. Is that true? What if I take it back and they don't have my 04 TL?

poohlikeshunny

I agree...good taste! I would have been real tempted to do the same. But yeah, I would go back and see what I could do about that, because at least you were going to own the TL, no you are leasing a TL-S if I understand correctly. With 10k miles/year, I would be going over due to mileage alone!! But as NYRecceman said, it's usually better for you to let yourself get emotional, leave, and then come back after the emotion is gone or faded. Hopefully they will throw you a bone and help you out with mileage or payments (unless you can return it? not sure how that works...never leased before) Good luck! Get some fun in with that TL-S if they are gonna cut you slack!

ebs312

take it back. you've made your own case as to why you should. chalk it up to impulse.

blazinginder

Will they let you give the car back ?...I thought that as soon as you take it off the lot, its yours...or is there some 3 day return policy ???

desper

Yeah,,,,

Def, take it back is they have a 72 hour poilicy then your car should be there for the 72 hours...

The only reason i bought my 2005 certified preowned TL is that i got 2.9 financing i don't know where your credit is but if it is very good you should qualify for something a lot lower if it is good. That lease rate is pretty damn high

good luck

pandaman1784

I believe you're stuck. There is no buyer's remorse when it comes to buying a car.

Here's a link:

http://wiki.answers.com/Q/How_long_d...do_not_want_it

geekybiker

Take it back while you still can.

You really need to get some help on financial decisions.

Sounds like you over paid on your 2004, and definitely overpaid on the tl-s. Selling a car after a year and a half is a very poor choice anyways.

black label

I know in MA, there is no 3 day rule. I don't believe there is a 3 day rule in any state for "buyers remorse".

Once the car has been registered, it is a used car no matter how many miles you have on it. I hate to say it, but I don't think they're going to take it back.

Beyond that I think they completely hosed you on the lease. With 3000 down, you can lease an S type for roughly 415/mn (+ sales tax depending on where you register). Even rolling in the $3500 from your previous loan your payment is way too high.

If they won't take it back, just try to enjoy the car.

VT06TL

I agree with the previous posters, take it back if you can or at the very least renegotiate it. I hope for your sake your not stuck in this deal.

TriniBwoy

Quite a harsh post, but funny nevertheless.

No offense to the original poster.

avs007

Did you by chance, walk into the dealership, and drool over the TL-S? (Just curious)... Looks like they reeled you in, hook, line, and sinker...

I had a different take, when the dealer did that with me, 2 years ago, when I brought my 03 TL-P in for service....

I told them I was uninterested in the new TL (even though I was). I said I was happy with my car, and unless they give me a stellar deal, I would be driving home in my 03.

They "forced" me to take a test drive, to which I said, "meh". (even though I was holding it all in).

Since they had free wifi, I pulled out my PDA and showed them an e-mailed price quote of a tad over invoice from a dealer in another state. (If I was really uninterested, why would I have price quotes already?).

I said if you can't beat/match it, I'm leaving. Salesman, was like, "There is no way we can touch that...."

I said, "Just ask, nothing to lose".
He said, "Ok, but I'm telling you, it aint going to happen".

I was about to leave, when he comes back and tells me the manager approved a price match, so I left with a new TL/navi

I'm thinking they saw how much you loved the TL-S, and bent you over. (No offense, I've been there too with a different car when I first graduated college)

jzacuto

Ooooo. That's a tough one! That's a gorgeous car! California stipulates that there is no "cooling off" period for buying or leasing a car. Once the paperwork is inked, it's done. No renegotiation. If the state where you live allows for renegotiation, you might want to give it a shot.

Otherwise, drive it and enjoy! The bad news it hat 10K isn't a lot of miles. The GOOD news is that the resale value near the end of your lease will probably be good so you might be able to sell private party for more than you'll get dinged for being over the mileage limit.

I did that with my last two Hondas. I was over the mileage but the resale was so good that I was able to sell both for exactly (or in the most recent case nearly) what I owed.

Good luck and if things don't work out, I hope you can at least enjoy the TL-S!

avs007

But there is a "Buyer's Remorse" clause tho, right?

MichaelBenz

iTrader: (2)

You are at your dealers mercy unless there is a state law that covers you. The 72 hour deal only applies to home loans and door to door salesmen. Unfortunately...you went to them.

TMLInfinity

Well, if you can re-negotiate the terms then that is great.

But other than that, some humans by nature are impulsive. And unless you go through an experience like this, you really don't know how you'll react.

Now you'll know for the future.

Not trying to lecture you but I've seen it happen since I've been in sales for several years and there are plenty of impulsive shoppers that I've ran into.

darksom1

You can't take it back!
Seriously, they don't have to take it back! If you were the dealer and it was your deal, would you? They made out on both deals. You can't even use the distressful "need to bail" excuse because if you took back your car, you would still have a note! They know that! So this is going down as a lesson believe that!

In a year, that TL-S probably won't look as pretty as when you initially drove it off (mentally). Maybe not even now huh? Meh, it'll look that way again after a couple of drinks...

Hmm...I just thought of something...in 2010 or 2011 I will be ready for the supposedly revamped model of the TL-S! I will need to make a deal on a very nicely kept, low mileage 06 MT TL...

john caravello

I hope you traveled north of the border and those figures are in Canadian dollars...otherwise

onsknth

I intended to be harsh... Easy lessons are never learned.

alvonchui

You are paying the same amount on lease payment per month as if you were buying the car and financing it at 7% APR on a 6 years term. And at the end of the lease, you do not own it, and you can only drive it at 10K miles per yr. This deal is a really bad, in my opinion.

UM Canes

No there is no Buyer's Remorse clause...you actually sign a document that states that you understand that there is no "cooling off" period. Whether its disclosed to you or not depends on the dealership but on a contract there is a waiver signed. If the original poster puts up enough fight she will be able to back out of the deal, and it may take some extremities... No dealer wants a bad name and would rather lose one deal than lose many b/c of a bad rep.
Scott

nj2pa2nc

you are going to make mistakes that you will regret, that is just part of life. I never leased a car as I put on too many miles. I would suggest you go back to the dealer and explain your concerns. Not all dealers have that 3-day return policy but no harm finding out. the only suggestion I could offer, if the refuse to take the car back is see if the can change your lease to a loan. Good luck and all the best. too late for regrets.

noah82

I have never leased a car, but is there a way that he can convert his lease into a loan to purchase the car?

For example, let's say he walks in tomorrow and tells them that he wants to flat out purchase the car. He can get a loan from a third party, make roughly the same payments, and then he would not have to worry about the mileage.

Will that work??

SteveP66

Don't worry about the milage you will be spending your days working 3 jobs just to make the payment - there will be no time left to drive.

dnd2984

iTrader: (6)

take it back and its a lesson learned in life. Also that payment is pretty high for a lease. What options are their to buy the car? Goodluck

SteveP66

It will "work" milage wise but it all depends upon the buyout figure.

jackasswhy

in california you have 3 days on a used car. on the new ones the minute you drive it off the lot youre stuck. this is why those big signs that say "NO COOLING OFF PERIOD" are there...

Kostyan

MDT0034girl: since you're a girl, I hope you are blonde, otherwise there's no reasonable explanation for what you did.


I see two ways out of this if the dealer wont take the car back:
a) keep the lease, and just rollback the odo
b) trade that TL-S at another dealership for an inexpensive used car and just drive that and make payments until get rid of all negative equity. Of course, the payments will be higher by like $200/mo, but if you make a mistake then gotta correct it somehow.


most important rule of car shoping:
never get into a new car when upside down on your old one, unless you're paying cash for everything!

leedogg

I almost did something foolish like you when I walked out the door with a used 05 (probably a loaner) financed through honda at a price that was 800 below what I could (and eventually did) get a new one for.

One thing saved my ass though. I asked for a 3 day, no questions asked, return period in writing from the GM.

They had my old car up on a truck ready to be hauled away when I came back on the 3rd day and nailed them to the wall.

I know I did good when they gave me the rookie new guy later on as my sales rep

alvonchui

I agree with other posters that the next best thing other than get out of the lease entirely, is to purchase it from dealer now. Hopefully they will sell it at MSRP. Even then, you are way better than keeping the lease. If your credit is fine, you should have no problem getting a car loan at 7% or less at most banks and credit unions. Good luck to you.

datmrman

This is not necessary. Keep such comments to yourself.


To mdt0034girl, have you talked to the dealership yet to see your options? Good luck with it.

Wid-TL

We've all made mistakes in life. It's only a mistake if you don't learn from it!

Check the laws in your particular state - I recall during my lease signing that NJ has the 3 day window where you can back out of the deal, and I remember signing something that said it was explained to me. (It wasn't a waiver).

Good luck. At best, take it back and get out of the deal. And at the very worst, you're still driving around in an awesome car!

EnvisionTL

When I went in for my last oil change, I test drove the TL-S and was blown away by it. I was tempted to flip cars but then reason kicked in as I realized that I could not afford to flip cars so easily. Take it as a learning experience because eventually you will come into similiar situations later on in life with more expensive things. You can try to see if your dealership will take it back but in the event that they refuse, see if you can outright purchase the vehicle. That will save you $$$ in the long run as well as you "owning" the car when it's paid off. If worse comes to worse, and they don't allow you to do anything, then you just have to rough it out for the next 3 yrs. Hope things get better for you in this particular situation. Good luck.

ggesq

iTrader: (1)

keep the lease and rollback the odo??? your kidding right? talk about setting yourself up for jail/prison.