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JB Umphrey
JB Umphrey, Attorney
Category: Legal
Satisfied Customers: 20232
Experience:  Explains legal matters based on 14+ years experience.
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I signed a lease for a new Subaru in Florida and signed all

Customer Question

I signed a lease for a new Subaru in Florida and signed all the paperwork about ten days ago. Now they contacted me and told they made a mistake on the financing rate and want me to come back in to re-negotiate a new deal. Is the current lease legal and binning? They said the sale manager made the mistake and is no longer there I only know the monthly payment and lease terms.
Submitted: 4 years ago.
Category: Legal
Expert:  JB Umphrey replied 4 years ago.
Thank you for using JustAnswer!

What was the error?
Customer: replied 4 years ago.
In the financing rate
Expert:  JB Umphrey replied 4 years ago.
What is the financing rate that's listed on the document?

What is the financing rate that they told you you were approved for before the documents were signed?

What are they now claiming the financing rate should be?

What are they attributing the error to?
Customer: replied 4 years ago.
It is a lease and told me the manager made a mistake with the financing and the bank won't accept the lease at the current lease rate. They won't tell any more info except that I need to re-negotiate a lease ASAP.
Expert:  JB Umphrey replied 4 years ago.
Is there language in the lease saying that it is contingent upon financing being approved?

Can you please answer the earlier specific questions I posed. Thx.
Customer: replied 4 years ago.
I was not told a rate but a monthly payment for 36 months and signed all papersin the lease took the car. I can not find any language in the lease stating that? If so, why was I given the car? The girl told me that I was tier 4 financing but given tier 3 by mistake. She claims the person making the mistake is gone.
Expert:  JB Umphrey replied 4 years ago.
The facts that you describe suggest "mistake" under which a court would set aside the original agreement. It suggests that there was a mutual mistake.

Your options are to return and re-negotiate with them or immediately find alternative financing.

Your situation is not necessary uncommon. I don't hear this happening too much with new car leases but it frequently occurs with used car sales when the let the people leave the lot with the car, but financing hasn't been approved by the bank yet, and then the bank comes back and doesn't approve the financing. At that point in time, they have to give the car back or come up with their own financing from a different financial institution.

Good luck and best wishes for better days ahead. I hope that you find this information to be helpful and this answer to be ACCEPTable!
Customer: replied 4 years ago.
Relist: Answer quality.
Expert:  JB Umphrey replied 4 years ago.
What additional information are you seeking?
Customer: replied 4 years ago.
Relist: Inaccurate answer.
Expert:  JB Umphrey replied 4 years ago.

I understand that you may be disappointed by the Answer you received, as it was not entirely favorable to your situation. Had I been able to provide an Answer which might have given you a successful legal outcome, it would have been my pleasure to do so. I do work diligently to provide you with the correct Answer under the law, and because I have no control over what the law is, I ask you not to hold that against me.


It has been my pleasure to assist you, and it would be greatly appreciated if you would click the green Accept icon so that I can receive credit for having answered your Question. Thank you in advance.

Customer: replied 4 years ago.
What is the purpose of signing a lease if it's not binding. Will they take the car away if can't come to an agreement? Will I get my trade in car back?
Expert:  JB Umphrey replied 4 years ago.
I understand your frustration. However, contracts can be set aside if there was "bona fide" error or mistake.

You can offer the dealer the opportunity to turn in the car in exchange for the return of your car. At this juncture, negotiation can go both ways.
Customer: replied 4 years ago.
Relist: How long do I have to return the car?.
How long do I have to return the car?
Expert:  JB Umphrey replied 4 years ago.
Because no financing is in place; the lease is null and void. If you don't return the car ASAP as they have demanded, they will report it to the police as stolen.
Customer: replied 4 years ago.
Relist: not satisfied.
not satisfied
Expert:  JB Umphrey replied 4 years ago.

Again, I understand that you may be disappointed by the Answer you received, as it was not entirely favorable to your situation.


Had I been able to provide an Answer which might have given you a successful legal outcome, it would have been my pleasure to do so. I do work diligently to provide you with the correct Answer under the law, and because I have no control over what the law is, I ask you not to hold that against me.


It has been my pleasure to assist you, and it would be greatly appreciated if you would click the green Accept icon so that I can receive credit for having answered your Question. Thank you in advance.

Customer: replied 4 years ago.
Relist: Answer quality.
Customer: replied 4 years ago.
Relist: Answer quality.
Please refer to a new attorney

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