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  1. #1
    Amie5972 is offline Junior Member
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    Exclamation can a new vehicle be returned within 24 hours?

    What is the name of your state? Florida

    I leased a new Toyota on December 5th, 2005. That night I realized that I got ripped off by at least $4,000. Can I get out of this lease within a certain amount of time? Possibly 24 or 48 hours after driving away with the car. I put no money down, but I have a 5 year lease. If I can get out of this, I would need to know ASAP, please!!!
  2. #2
    cjbrown929 is offline Member
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    lease dilemna

    Your only chances are 1) if the entire deal was completed away from the dealer's place of business, you possibly have 72 hours to cancel the deal (just like you would if you bought a vacuum cleaner from a door to door salesperson), 2) if you can demonstrate fraud on the dealers part and, 3) If the dealer made a big mistake (wrong residual, etc) on the lease agreement and couldn't get anyone to buy it as written.

    Why do you think you got ripped off for $4,000? The capitalized cost? Trade-in value? The lease factor (equivalent to the APR in a financed deal)? The residual values are pretty much etched in stone, but do vary from company to company.

    Leases are often used in a situation where the buyer has a trade-in with significant negative equity. A lease can "absorb" more of the negative equity than a standard loan, converting it into a higher payment.

    BTW, if they ask you to RESIGN the lease, you can do so (naturally, with a big change in terms) or refuse. Beware, though, they MAY be able to get the deal done AS-IS.
    Last edited by cjbrown929; 12-06-2005 at 04:43 PM.
  3. #3
    JETX is offline Senior Member
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    Quote Originally Posted by Amie5972
    WCan I get out of this lease within a certain amount of time?
    Yep. All you have to do is get the dealers written permission and you can return the car and walk away!!!
    Absent that permission... you are stuck in your contract (lease).
  4. #4
    cjbrown929 is offline Member
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    permission slip?

    I think you'll find my examples more instructive than getting a "permission slip" from the dealer. I have witnessed many cancelled lease deals, and unfortunately been involved in a few. One in particular involved a man who leased a Nissan truck, one of our last 95's, that the dealer was paying a flat $750.00 commission on. (BTW, it WAS a great deal for the buyer)

    The lease agreement had a "fatal flaw" in it, one that required the lessee to resign if the lessor were to OK it.

    At this point, the ball is in the buyer's court, so to speak. Contrary to JetX's "advice", all this guy had to do (and DID after deciding he didn't want the truck) was refuse to resign. No permission slip required.

    I would emphasize, however, that lease "unwinds" are rare. There would have to be a significant problem, but they DO happen.

    I can only assume that jet was speaking of an extremely rare set of circumstances which he can hopefully share with all of us.
  5. #5
    justalayman is offline Senior Member
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    Quote Originally Posted by cjbrown929
    I think you'll find my examples more instructive than getting a "permission slip" from the dealer. .
    psst...not positive but I think there was a tinge of sarcasm in that part. Notice the !!! after the statement. JETX gives great advice but still has his fun.
  6. #6
    john123456 is offline Member
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    Quote Originally Posted by justalayman
    psst...not positive but I think there was a tinge of sarcasm in that part. Notice the !!! after the statement. JETX gives great advice but still has his fun.

    psst..JETX was serious.
  7. #7
    cjbrown929 is offline Member
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    Hail Mario?

    How do you say "reader beware, sarcasm ahead"? in Latin?

    I myself have engaged in sarcasm on this site, and have been advised that I should repeat 10 "Hail Marios"

    john123456- sorry about the "hall monitor" statements. A dash of irrelevance mixed with useful advice makes for a more readable forum I think. Plus, I haven't spent the time to fill out stuff to give and receive private messages. That'll be another 10 "Hail Marios".
    Last edited by cjbrown929; 12-06-2005 at 11:20 PM.
  8. #8
    JETX is offline Senior Member
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    Guess what?? I was serious. Absent some weird convoluted logic in law (that 'cjbrown' is so talented at trying to toss out there), the ONLY way that the OP is going to be able to waive their contractual (lease) obligation on this is with the dealer's (or lessor's) permission.

    To be clear, "cjbrown's" post is like throwing a life preserver to a starving man. It might be of benefit (if it is made of meatloaf ), but really has no relevance to the question raised by the poster.

    To someone who has an education and background in law (something that 'cjbrown' is lacking), the OP is clearly asking if this purchase falls under some '72-hour cancellation' provision.... and it doesn't.
  9. #9
    BelizeBreeze is offline Senior Member
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    Quote Originally Posted by john123456
    psst..JETX was serious.
    psssst....Jet is ALWAYS serious...
    Expcet for idiots, the mentally infirmed and small children.
  10. #10
    cjbrown929 is offline Member
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    Uh oh, when I am facing the combined perspicacity of jet and belize, whose posts are so eerily similar in their abbreviated condescension that I would swear they are joined at the cranium, I know we are in for a lively debate.

    And as soon as they make a point worth debating, I will do so.

    To reiterate:If a dealer makes a major mistake on the lease documents (for instance) that would prevent any leasing company from accepting the deal, and the buyer refuses to resign (even if the terms were more attractive), the deal is dead in the water. The vehicle is returned, any trade and $ down are returned etc. That's why they call them "unwinds", like going back in time, except that the dealer now has a virtually brand new vehicle that now must be sold as used. "Permission" implies that the dealer had any other options, which, short of doing an in-house lease, would not be the case in this example.

    I suppose that if the dealer needed to feel like he was in control, he could issue his "permission" to return the car, but with or without it, the outcome would be the same.

    I have witnessed other situations where a lease deal was scuttled due to a variety of reasons, none of which remotely involved "permission".
  11. #11
    BelizeBreeze is offline Senior Member
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    Quote Originally Posted by cjbrown929

    I suppose that if the dealer needed to feel like he was in control, he could issue his "permission" to return the car, but with or without it, the outcome would be the same.
    Yes, it would be. The contract is enforcable period.
  12. #12
    cjbrown929 is offline Member
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    Quote Originally Posted by JETX
    Guess what?? I was serious. Absent some weird convoluted logic in law (that 'cjbrown' is so talented at trying to toss out there), the ONLY way that the OP is going to be able to waive their contractual (lease) obligation on this is with the dealer's (or lessor's) permission.

    To be clear, "cjbrown's" post is like throwing a life preserver to a starving man. It might be of benefit (if it is made of meatloaf ), but really has no relevance to the question raised by the poster.

    To someone who has an education and background in law (something that 'cjbrown' is lacking), the OP is clearly asking if this purchase falls under some '72-hour cancellation' provision.... and it doesn't.
    jet: please view (ie, read, understand) my first post on this thread, where I make note of the 72 hour cancellation "issue". I would admit that my advice pertained to purchases, and that I had not researched the applicability to leases due to the great unlikelihood that 1) the op had not initiated contact with the dealer, 2) the op had never set foot on the dealer's place of business, both critical aspects of the "cooling-off" law.
  13. #13
    justalayman is offline Senior Member
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    Quote Originally Posted by JETX
    Guess what?? I was serious. Absent some weird convoluted logic in law (that 'cjbrown' is so talented at trying to toss out there), the ONLY way that the OP is going to be able to waive their contractual (lease) obligation on this is with the dealer's (or lessor's) permission.

    To be clear, "cjbrown's" post is like throwing a life preserver to a starving man. It might be of benefit (if it is made of meatloaf ), but really has no relevance to the question raised by the poster.

    To someone who has an education and background in law (something that 'cjbrown' is lacking), the OP is clearly asking if this purchase falls under some '72-hour cancellation' provision.... and it doesn't.
    Sorry JETX I really didn't mean to speak for you. From your general accuracy, pertinent, and in cjbrown's words, condescending posts I figured that most reasonable people would understand the permission thing to be a futile effort and it was meant as levity. Car dealers are generally not known for giving away money which they obviously would as they now would have a used car.
  14. #14
    BelizeBreeze is offline Senior Member
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    In Florida, if you contract for services to be rendered in the future on a continuing basis, you are entitled to a three day cooling-off period. You are also entitled to cancel a contract for future services if you can no longer physically receive the services, or the services are no longer available as originally offered.

    Likewise, if you purchase goods or services during the course of a "home solicitation sale", you maintain a three day right to cancel. A sale is considered a "home solicitation sale" if it takes place in your home, or at a location which is not the main or permanent place of business for the seller, so long as the purchase price is in excess of $25. There are certain exceptions to these general rules. If you are in doubt as to whether you have the right to cancel, you should contact consumer agencies such as the Florida Department of Agriculture and Consumer Services, the Attorney General's Office, or your local consumer agency.

    A sale for future services can be cancelled by the buyer by notifying the seller within three business days from the date the buyer signs the contract. There is no requirement that the notice be made in writing. However, it is a better practice for the buyer to send written notice to the seller by certified mail. Cancellation of a home solicitation sale must be made in writing to the seller by no later than midnight of the third business day after the day the buyer signed the contract. A written notice sent by mail must be postmarked by no later than midnight of the third business day after the contract date. Refunds for cancelled contracts for future services must be received within twenty days after the seller receives the notice of cancellation. In the case of a home solicitation sale, a refund must be mailed within ten days after the sale has been cancelled.

    Source: The Florida Attorney General's Office
  15. #15
    cjbrown929 is offline Member
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    Quote Originally Posted by BelizeBreeze
    Yes, it would be. The contract is enforcable period.
    Brilliant deduction! Yes, my friend, it is enforcable! The question is, if the dealer cannot find anyone to accept the deal, and does not want to do an in-house lease, the "enforcability" becomes moot, and the dealer sullenly tells the lessee to return the vehicle. Maybe that's what you guys call "permission".

    (this line added) I have never suggested, BTW, that the lessee could unilaterally cancel the lease.

    The limited examples I provided the op came with clear, realistic caveats.

    BTW, I don't mean to be petty, but misspelling "except" right before "idiots" is grounds for a chuckle or two.
    Last edited by cjbrown929; 12-07-2005 at 01:21 PM.
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