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Residual wrong? Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Thu, 6 Mar 2008 10:55:28 In Reply to: Discrepency in a lease contract, Ron, Thu, 6 Mar 2008 09:46:05 Members do not see ads below this line. - Help Keep This Site Online - Signup |
The mileage allowance is hooked to the residual value, higher mileage allowance equals lower residual value. If the dealer can't get the contract bought as written, they gotta' big problem. No obligation for the consumer to resign.
The dealer needs to adjust the contract so that the miles are the same, the residual is the lower correct one for 15k, and the payment stays the same, and the only way to do that is to reduce the selling price by just about the difference in the residual, their mistake. In other words the dealer needs to eat it.
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