New England B.S. Thread

Oh, not sure then. Did you pay off your residual? I was going to finance through Toyota so maybe that's the difference?

 

I hate to say it but...

With the resale values being what they are, the dealership doesn't have any reason to have you buy out your lease if the residual is a lot lower than the going used prices. They get a used truck to sell at a profit and sell you a new truck.

 

Yeah I bought it out personally. I don't know why the dealership has to hold the car. Either way congrats on the new one

 

Absolutely. But I'm fine with it

Almost paid off my student loans, no more wedding to pay for. Probably not the most financially responsible decision, but I'm in a good spot and can swing it.

 

Congrats on the new truck!

 

Pretty sure you hit the nail on the head there!

Now... we'll just leave this here for Monday

 

But you would still be able to buy out your lease if wanted right?

 

Yes I could have. But the way they explained it to me was because I was going to finance the residual with Toyota, they would have the cancel the plates and registration on the truck and get the title from the leasing company. Then once they had the title in hand, they would be able to sell me the truck for the residual amount as if I were buying a vehicle off their used lot.

And they would have to hold the truck from when they cancelled the registration and sold the truck. And that process typically takes 2 to 3 weeks according to them.

 

Took a couple before I left

 

Yes. My BIL is a sales manager at a local Nissan dealership. My other BIL worked as a car salesman there and another dealership and got out of the business as he didn't like lying to customers. I've heard my BIL (sales manager) say he makes the most on selling used cars to people that can't afford them. They get repo'd and he gets to resell them again...

Needless to say, I don't own any vehicles from that dealership.

 

Good looking truck. I like the wheels with the MGM color.

 

All they'd have to do is issue new tags. Or you can request to keep yours (I have personalized). Same thing with trading in a car that has a finance payoff, you sign a drt 1 authorizing them to pay it off for you, and title goes to them instead of you

 

Just got home from PA.

 

A lot of the laws around buy here pay here have changed to protect consumers from this

 

Good...

 

@Cativelense did you remember to remove the bulbs from the cabs third brake light before putting the cap on??

 

Hmm.. No. Doh.

 

I know quite a few people who destroy the vehicle when they know it'll get repo'd. Can't imagine that much money is made from that.

 

you know shitty people

 

Sounds a nice, hot pile of bullshit right there...

I have mixed feelings on it. We're passing laws to protect people from themselves. People used to actually read what they sign and take responsibility for their actions. Predatory lending certainly isn't ethical, but on the other hand the person who signed the agreement is still very much at fault as well.

Meh... I never removed the bulbs from my third brake light. It's never bothered me on the Tacoma or the Ford. The caps fit fairly close, I never noticed any glare from it.