You must have missed the part where I said I'm friends with the owner. No surprise. And if you think I give 2 shits what anyone on here thinks you're as dumb as I suspect.I've been in this business for over 20 years, and I can promise you there is no dealership (still in business) that leases to its customers what they pay for their leases. They couldn't, they'd lose money. So either your dealership friend is a lousy businessman, or he's as dishonest as you are making you believe they're leasing to you "at cost" and not making a dime off of you?
Again...impossible. However I'll let it go because as I said earlier ITT, it doesn't matter to me one way or the other. I suspect you passed that information along to me not trying to be honest, but puffing yourself up and prancing around on here like you're some independently wealthy business tycoon unaffected by the surging inflation plaguing the rest of us plebes.
Know what's so funny about all that? No one believes a damn word you claimed. I sure didn't. When I told my general manager in passing "Hey I have a guy who says he leases "at no cost" to either himself or the leasing dealership". He spit his coffee out laughing!
Still waiting for stolen election evidence.
- Thread starter sammyk
- Start date
Hey Bro, the only "dumb" person on here is the one who's on here constantly bragging about how "rich" is.
Question: If you "don't give 2 shits what anyone on here thinks" why is it so important for you to let everyone know how independently wealthy your are?
Ans: Because you're a congenital liar and as phony as this
Go ahead and lie some more and tell us you didn't vote for that Hag right?
@NYC_Eer
Now why would I embarrass myself even more on here and admit to that?
Because you're the "dumb" poster who voted for her! Run along now...
I know leases have depreciation (cost automatically built into the lease) someone is paying the depreciation on your "no cost" lease. That's why I asked you if it's a "closed end" or "open ended" lease? (which you refused to answer btw)
I'll say this one last time. It is mathematically impossible for ANY dealership to lease "at cost". For a variety of reasons which I won't get into, there are too many other variables involved in a lease, not the least of which is something called "wear & tear" which again is costing someone something! It could be the leasing agency, the lienholder, the leasing customer, or the dealership depending on how the terms are structured but THERE IS NO SUCH THING AS A LEASE "AT COST".
Your insistence that such a thing exists not only proves to me how "dumb" you are, but quite frankly makes me question if you even run a business at all? How many of your own customers do you offer your products or services to "at cost"? 🤔 Friends aside, your Dealership friend is losing his shirt leasing to you if he's leasing to you and eating the depreciation.
You are a horrific liar. 🙄
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@NYC_Eer ...the information listed here is why I'm convinced you are FOS on your so called "no cost" lease, and it further solidifies in my mind why you refused to tell me which type of arrangement (closed end or open end) you had on your particular deal? As the information below clearly and specifically explains, "depreciation" (ie: loss of value of the vehicle) occurs as naturally as the mileage accumulates while the vehicle is being operated.
It is virtually impossible to get around this fact, as a vehicle in use either under normal conditions, or being driven harshly is going to depreciate! It is a fact that follows like night follows day. How much depreciation is a vital component into how any lease is negotiated. Any dealer who does not take under consideration this one immutable fact when arranging terms of a lease is essentially throwing away good money. I know of NO DEALERSHIP operating on thin profit margins per unit as things currently exist, who's willing to "give away" depreciation of a perfectly saleable new vehicle without some form of remuneration to offset that vehicle's anticipated loss of re-sale value at the lease end!
So despite your haranguing and protesting to me about your "no cost" lease from your dealer friend, I 100% guarantee you're not only paying for that lease, but probably paying way more than the vehicle is actually worth and that dealership is definitely making money off you while leasing it to you!
Fact,
Next topic: Negotiating terms and comparing lease offers > Intro
source:
Federal reserve.gov/leasing guide
There are several questions I could ask you to determine how the terms of your lease end up not costing the dealership any loss of residual value (impossible) but you'd never honestly answer me so why bother? Know this...I know you are lying through your teeth insisting this lease costs that dealership nothing:
Baloney. If that vehicle is being driven...it's depreciating, & that means they're making money off you! I 100% guarantee they're NOT eating the loss of it's residual value...YOU ARE!
Ya know as I sit here writing this, I'm amazed by your arrogance and amused by your dishonesty! Why would you try to make me believe something I know from my years of sales/leasing in the automotive business is impossible? The brazenness of your dishonesty is exceeded only by the arrogance of your inane insistence that YOU somehow are the one unique lessor who's figured out a way to make a dealership get around the immutable fact of d-e-p-r-e-c-i-a-t-i-o-n of a vehicle that's being driven more than 1 mile, let alone several thousand!
It speaks more to your character than your complete ignorance, that you would try to convince someone such as myself with over 20 years in the sales/leasing business, of something I know is virtually impossible. Tells me all I need to know about you, more importantly how you think, and ultimately how much of a dishonest transparent flake you actually are.
I'm not impressed.
It is virtually impossible to get around this fact, as a vehicle in use either under normal conditions, or being driven harshly is going to depreciate! It is a fact that follows like night follows day. How much depreciation is a vital component into how any lease is negotiated. Any dealer who does not take under consideration this one immutable fact when arranging terms of a lease is essentially throwing away good money. I know of NO DEALERSHIP operating on thin profit margins per unit as things currently exist, who's willing to "give away" depreciation of a perfectly saleable new vehicle without some form of remuneration to offset that vehicle's anticipated loss of re-sale value at the lease end!
So despite your haranguing and protesting to me about your "no cost" lease from your dealer friend, I 100% guarantee you're not only paying for that lease, but probably paying way more than the vehicle is actually worth and that dealership is definitely making money off you while leasing it to you!
Fact,
 | 
| |
| Up-Front, Ongoing, and End-of-Lease Costs End-of-Lease Costs: Open-End Leases |
Differences between open-end and closed-end leases Your rights and obligations at lease-end are different in an open-end lease and a closed-end lease. In a closed-end lease, at lease-end you are responsible for the condition of the vehicle (that is, any excessive wear and use). In an open-end lease, you are responsible for the vehicle's value (that is, any deficiency between the realized value and the residual value). Both types of leases calculate an amount of projected depreciation, which becomes the basis for calculating your base monthly payment. The determination of the base monthly payment involves projecting the future value of the vehicle. At the end of the lease term, the actual value may be higher or lower than the projected value. In a closed-end lease, the lessor usually keeps the gain and assumes any loss due to excessive wear or excess mileage. In an open-end lease, you may receive a refund of any gain, and you are responsible for any deficiency. For example, if your lease early termination payoff is $16,000 and the amount credited for the vehicle is $14,000, your early termination charge will be $16,000 minus $14,000, or $2,000. End-of-term options At the end of a lease, you do not own the vehicle. The specific provisions of your lease agreement govern your options at lease-end. Your options may include the following:
If you return the vehicle to the lessor at scheduled termination, the lessor will tell you where to return the vehicle. In an open-end lease, subject to the three-payment rule, you are responsible for any difference if the actual value of the vehicle at scheduled termination is less than the residual value stated in your lease (deficiency) (see glossary entry Open-end lease for a definition of the three-payment rule). In most open-end leases, you are also entitled to any refund if the actual value is greater than the residual value stated in your lease. Thus, the lessor may not arrange for inspection of the vehicle unless a substantial residual deficiency is expected. More info If the lessor arranges for an inspection for excessive wear and excess mileage, it is usually performed by one of four parties: the lessor's franchise dealership, the lessor, a private appraiser, or an auto auction. It is in your interest to be present at the vehicle inspection. After the inspection, you should carefully review the vehicle condition report and discuss any questions you have with the person doing the inspection. You may be asked to sign the condition report to acknowledge that you have received a copy. If you have any questions or concerns, you may want to note them on the report. If there is a deficiency and the lessor is relying on the condition report for part of its charges, you may have a right, under state law or your lease agreement, to dispute the condition report. In the event of a dispute, some lessors also offer you the right to choose a third-party appraiser acceptable to both you and the lessor to make a binding assessment of excessive wear. End-of-term charges may include Disposition fee More info Excess mileage charges More info Excessive wear-and-tear charges More info Residual differences More info Early termination Early termination means that the lease ends before the scheduled termination date for any reason, voluntary or involuntary. More Info The federal Consumer Leasing Act requires the lessor to state
Reasons for the early termination charge Calculation of the early termination charge Options at voluntary early termination Early termination charges if your vehicle is stolen or totaled Reasons for the early termination charge. If your open-end lease ends early, you may have to make a payment (an "early termination charge") to satisfy your lease obligations. This payment may be substantial. The early termination charge is typically the difference between the balance remaining on the lease (lease payoff amount) and the amount credited for the vehicle (realized value of the vehicle). A large part of your early termination charge is due to the fact that the market value of a leased vehicle declines more quickly at the beginning of the lease than at the end of the lease. In the early part of the lease, the amount you pay for depreciation does not fully cover the amount the vehicle actually depreciates. So if you end the lease early, there usually is a shortfall. As the lease nears its end, this shortfall is generally less because more of your payment is allocated for depreciation. Calculation of the early termination charge. The calculation of the early termination charge is set forth in the lease. Usually, the amount credited for the vehicle you've leased will be the actual wholesale price received for the vehicle or a wholesale value established by some other means, such as an independent appraisal. The early termination charge may include such charges as a vehicle disposition fee and taxes. In virtually all cases, you must pay other amounts owed, such as late charges, past-due monthly payments and parking tickets. Some lessors also charge an additional amount, usually a fixed dollar amount, to reimburse their costs of early termination and the portion of their initial costs that would have been covered by the remaining rent charge. The earlier you end the lease, the greater the early termination charge is likely to be. The charge may be up to several thousand dollars. Because early termination may be expensive, you may want to select a lease term for the length of time you plan to drive the vehicle instead of choosing a longer term (to get a lower monthly payment) with the idea of terminating the lease early. Note that the three-payment rule does not apply at early termination (see glossary entry Open-end lease for information on the three-payment rule). Options at voluntary early termination. You typically have the following four options at voluntary early termination:
Many lessors offer gap coverage to reduce or eliminate your early termination deficiency when the early termination is caused by your vehicle's being stolen or totaled. There are two types of gap coverage. One is a waiver by the lessor of the gap amount after an insurance casualty loss. The other is a contract with a third party, which may be an insurance company, to cover the gap amount. With either type of gap coverage, you are usually responsible for your insurance deductible and any other amounts deducted from the insured amount of the vehicle by your insurance company. Gap coverage typically applies only in the event of a total vehicle loss through casualty or theft covered by your insurance policy and a determination that the vehicle is a total loss. Gap coverage does not usually apply to the past-due payments owed for periods preceding the loss or to any fees or costs owed on the lease, such as late fees or parking fines. Also, gap coverage may not apply if you have breached the terms of the insurance policy or the lease. The lessor's waiver typically will not apply in the event of a loss through forfeiture or confiscation by a government agency. You may be responsible for continuing your monthly payments until the lessor receives the insurance proceeds. |
Next topic: Negotiating terms and comparing lease offers > Intro
source:
Federal reserve.gov/leasing guide
There are several questions I could ask you to determine how the terms of your lease end up not costing the dealership any loss of residual value (impossible) but you'd never honestly answer me so why bother? Know this...I know you are lying through your teeth insisting this lease costs that dealership nothing:
Baloney. If that vehicle is being driven...it's depreciating, & that means they're making money off you! I 100% guarantee they're NOT eating the loss of it's residual value...YOU ARE!
Ya know as I sit here writing this, I'm amazed by your arrogance and amused by your dishonesty! Why would you try to make me believe something I know from my years of sales/leasing in the automotive business is impossible? The brazenness of your dishonesty is exceeded only by the arrogance of your inane insistence that YOU somehow are the one unique lessor who's figured out a way to make a dealership get around the immutable fact of d-e-p-r-e-c-i-a-t-i-o-n of a vehicle that's being driven more than 1 mile, let alone several thousand!
It speaks more to your character than your complete ignorance, that you would try to convince someone such as myself with over 20 years in the sales/leasing business, of something I know is virtually impossible. Tells me all I need to know about you, more importantly how you think, and ultimately how much of a dishonest transparent flake you actually are.
I'm not impressed.
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Amazing how there's "no evidence" of any voting irregularities in this State during the last election, yet we have quite a bit of "evidence" we need to sort through in order to determine just how bad it was here? 🤔
It was just a slight "clerical mistake" anybody could overlook a quarter of a million times!
