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Lease end buy out fee - Ontario

 
Old 08-27-2018, 03:23 PM
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Lease end buy out fee - Ontario

Need some advice here. My 2016 RDX (Elite) lease ends next month and since the market value of the car is higher than the residual value (low kms, well maintained), I am planning on buying the car. However, my dealer in Ontario is playing hardball and charging me insane fees in addition to the residual value. They are charging me:

Lease Buy Out Fee: $596
Dealer Admin Fee: $599

I think that is ridiculous! I know there is usually one of the above fee, but certainly not both. I called Acura Canada and they confirmed the dealer should only be charging me the Lease Buy Out fee.

Any advice, suggestions on how to deal with this dealer? I have told them I am not paying the Dealer Admin fee but have not heard back from them.

Thanks.
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Old 08-27-2018, 10:21 PM
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Try another dealer? You should be able to buy it from any dealer you like. I would call ahead and tell them your issue so it is resolved beforehand. I don't understand the lease buyout fee. Seems like a money grab to me. Kind of like the disposition fee they charge if you turn it in at lease end. They are getting the car back and get to make more profit by selling a car they just leased to someone for multiple years so they get to double dip and then have the nerve to charge you a fee to turn the car back into them....
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Old 08-31-2018, 09:25 AM
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Thanks chickdr.

I did contact 3 other Acura dealerships in the GTA area and all of them quoted me a lease buy out fee of $595. My dealer quoted me $595 + admin fee of $599 !!! Needless to say, I went with another dealership and wrote a scathing e-mail to the General Manager and the Finance Manager of that dealership. They have lost my business forever. I am so tempted to mention their name on this board, but I will exercise restraint.
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Old 08-31-2018, 09:39 AM
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I brought my friends 2015 RDX at 2 1/2 yrs of his lease, the dealership only charge me $200 over the remaining balance of the lease, plus the $100 safety certificate.
I have very good experience with this Honda dealership @ Yonge /16th ave., the sales manager is Lewis Mui.
I bought a HRV for my daughter @ this location too, this is how good a service he provide.
Give him a call and see what he can do for you.
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Old 10-25-2018, 07:57 PM
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Maybe it's a Canadian thing because I bought my lease out and there was no lease buyout fee that I paid. Just remaining payment plus the residual.
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Old 11-02-2018, 04:59 PM
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What was written in the original contract?
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