02/16/09

Worst Lease agreements I have ever seen

by Blooby

I was recently tasked with talking to Sewell Lexus about (2) extremely bad lease agreements made with the dealership, and subsequently, what, if anything, could be done. I have my answer as of this morning: 2/16/2009, "absolutely nothing". The lease agreements were for (2) company vehicles. One was an RX 400h, and the other an RX 350. The RX 400h contract is for $914/month, and the RX 350 is for $775/month, which is ludicrous. They were written with 80,000 and 60,000 mileage terms for (48) months, which far exceed the 50,000 mile factory warranty. Who does that? No attempt was made in the beginning of the transaction to reduce the cap cost on either vehicle, and obviously nothing was done to make the monthly payments even remotely reasonable. I spoke with the GM there, and he pretty much said "too bad". When I told him he had lost two customers, he said "so what". Carl Sewell wrote a book on customer loyalty a while back. I guess those days are far behind them. These two lease agreements are a prime example of an overall lack of business ethics. The 400h was even a demo, and it was listed as such on the contract! I warn anyone who is about to do business with them, as they are truly sharks circling you in the water.