[Darrin]

Is this a legitamate lease expense? My dealer says all GMAS leases require the $595 administrative fee? Does anyone else have this number on their paperwork?

Thanks

 

[Tomasy]

That is the trouble with leases. You need a team of lawyers to find all the fees they stick in. They play with the interest rate, try to add administrative fees, acquisition fee, put a disposal fee in or some other trick. It tells you something when the dealer generally makes 2x as much on a lease as a sale. I got some numbers on a lease and they only seemed to be a good deal for the dealer. I decided to buy outright where all the numbers are on the table.

 

[o2man98]

The $595 is required by GMAC and cannot be discounted by dealership. I researched this as I am looking at a lease also.

 

[catchmeifucan]

I have asked this question before. Others have said on here they have not been charged. But, like someone said, they bury this stuff on leases.

I went line by line and verified what they were charging me. This was after my agreed upon monthly fee was different than what the finance manager was coming up with. And yes one of the differences was that they did add this administrative fee to my lease. Plus, had to pay tax on my GM card rebate. I complained up and down but to quote the dealer - "GMAC will NOT let me waive this fee." So, I made them make it up on my trade as I refused to sign the paperwork.

My complaint to the dealership was that during all of the negotiation this was not once brought up. Granted they have to make some money to process the paperwork. You figure over a 3 year lease, this was almost $20 per month as I put nothing down.

I am going to personally call GMAC. Unfortunately, just haven't done it. If someone beats me to the punch, please let me know. If this was a dealer imposed fee, I will be sure to let my salesman know about it.

 

[Darrin]

Thanks for the info. From what I have been ablet o find, it does look like GM requires the $595 fee, which is outrageous. It also looks like some other leasing companies actually charge more!

I'm not really upset with my deal as the total deal actually ended up costing less than I had originally figured. For some reason, the posted GMS price (employee purchase price) was $30,099 but the dealer used the purchase price of $29,599 and then subtracted the rebates, so it pretty much all worked out. It was just frustrating because the numbers just seemed to keep changing. The finance guy did try to put a $360 ETCH fee into the deal, but it was removed after I caught the add-on.

I just bought the car last night, so I really haven't had much time with it yet. Looking forward to today!

 

[djdub]

Thanks for the info. From what I have been ablet o find, it does look like GM requires the $595 fee, which is outrageous. It also looks like some other leasing companies actually charge more!

I'm not really upset with my deal as the total deal actually ended up costing less than I had originally figured. For some reason, the posted GMS price (employee purchase price) was $30,099 but the dealer used the purchase price of $29,599 and then subtracted the rebates, so it pretty much all worked out. It was just frustrating because the numbers just seemed to keep changing. The finance guy did try to put a $360 ETCH fee into the deal, but it was removed after I caught the add-on.

I just bought the car last night, so I really haven't had much time with it yet. Looking forward to today!

Why don't you SmartBuy it. SmartBuys are usually cheaper than leases (at least NY SmartBuys are) and I don't know of any fee for doing it.

 

[Baron Samedi]

Almost all financial institutions have an acquisition fee that can either be paid up front by the lessee or bundled into the lease and paid monthly. Some banks have disposition fees that are either paid up front or at lease termination. Sometimes security deposits are waived or required and can be paid up front or built into the lease.

But what all of these things have in common is that they're controlled by the bank, not the dealer.

That isn't to say that the dealer shouldn't tell you up front what's going on. Some dealers wait for you to ask and some automatically bundle add-ons (VIN etch, extended warranties, Gap insurance - a good idea by the way, etc) into the payment. Make sure you ask for a complete detail of ALL charges BEFORE YOU SIGN ANYTHING and also make sure that the mileage built into the lease is appropriate for your planned use. Most advertised payments are based on only 10,000 miles per year.