From a recent Fox news report...
Lease Loopholes - Avoid the traps of car leases that can lock you into a bad deal. FOX 6's John Mattes takes a close look at the fine print of a lease.
YOU SEE THE OFFERS EVERY DAY. LEASE A TOP OF THE LINE CAR FOR ONLY $399 A MONTH. BUT HAVE YOU EVER TAKEN THE TIME TO READ THE FINE PRINT? FOX 6 NEWS INVESTIGATIVE REPORTER JOHN MATTES TAKES A CLOSER LOOK AT LEASE LOOPHOLES "It is bait and switch." JUST LOOK AT THE LEASE OFFERS. THEY LOOK SO GOOD BUT WHO REALLY READS THE FINE PRINT? "This goes far beyond education" RICHARD JONES IS AN EDUCATED CONSUMER. A MANAGER OF A TV STATION WHO READS CONTRACTS BUT HE WAS AMAZED AT HOW THE FINE PRINT IN A LEASE CONTRACT FOR AN AUDI SNAGGED HIM. "It was like consumer beware"CONSUMER BEWARE IS RIGHT.HERE 'S THE CONTRACT: "PURCHASE OPTION, ASSIGNABLE TO LESSEE ONLY"IT'S THOSE FEW KEY WORDS WHICH RAISED THE COST BY THOUSANDS IF JONES OPTED TO TURN IN THE CAR AT THE END OF HIS LEASE RATHER THAN PURCHASE IT OUTRIGHT. "From a layperson's point of view, reading it over and over again I still can't see where the five words would give them the opportunity to move to a different pricing" SO WHAT DOES THAT MEAN?AUDI SAYS YOU PAY MORE IF YOU RETURN IT TO A DEALER.BUT NO ONE AT AUDI WARNED JONES."There would be no way that you could possibly know that." "It's basic contract law, when they give you a number, that's your number, you can't change it" CONSUMER ATTORNEY HAL ROSNER HAS THESE TIPS FOR CONSUMERS SHOPPING FOR A CAR LEASE "When you shop for a car, shop price first" "As soon a dealer wants to talk payments, tell him you're not interested in discussing payments all you care is how much it costs"MOST IMPORTANTLY, SHOP THE ACTUAL LEASE TO SEVERAL PLACES"Most people don't understand that many credit unions and banks, in fact most, will give you a lease or a purchase"MEANWHILE JONES WON'T BE BACK ANYTIME SOON FOR ANOTHER AUDI "This whole experience has put a very sour taste in my mouth. CONSUMER ATTORNEY HAL CONSUMER ATTORNEY HAL ROSNER SAYS HIS FIRM IS INVESTIGATING TO FIND OUT IF AUDI IS DOING THIS IN OTHER CITIES.
See the video report here