In May I purchased a 2001 Eclipse RS (VIN: *C34GX1E19*) from Jamie Modisett, a salesman. At that time, we agreed on a 36 month lease for $349.98 each month. (I think it goes without saying that the salesmen and managers were both very pushy and very rude. I was there alone, and three big, brawny men were at my side constantly, rushing me to sign their contract).
Recently, I have been looking to trade my vehicle in because my job has changed since I leased this vehicle and Im now required to drive through town most of the day. With my lease, I was only allowed 12,000 miles each year, and I can already see I will exceed that limit. Also, Im looking to start a family within the next year and a 2-door sports car is no longer practical.
It has been brought to my attention that I do not have a 36 month lease, but instead I have a 54 month purchase. Im not going to argue the term (36 vs 54 months) because I should have caught that much sooner. My concern now is that I do not have a leased vehicle, but a vehicle that Ive supposedly purchased under the Diamond Advantage plan.
At the time I purchased this vehicle, I was told I would have a 36 month lease and at the end of that term, I had 3 options. I was told I could 1) turn the vehicle back in, 2) refinance the residual, or 3) trade the vehicle in towards an upgrade. This sounds like a lease to me, except now I find I have no options of an early termination.
When I came in to sign the paperwork, no one mentioned this was a Diamond Advantage purchase or that it was for 54 months. The contract placed in front of me did not differentiate any of this. I reviewed all the paperwork at the time I signed, but must have overlooked the increased term. Either way, both the salesman and the finance officer led me to believe this was a lease. Had anyone taken the time to explain this awful purchase plan, I never would have gone forward. (If I purchased a vehicle, why would I want to trade it back in at the end of term?)
Im now finding out that I am significantly upside down and have no options as far as trading my vehicle in without a monstrous cash down payment. I arranged with a family member for a lease transfer, but Mitsubishi Mothers will not allow this since this is not a leased vehicle. There is not one dealership that will accept my trade in with this amount of negative equity.
Both the salesman and the finance officer have deceived me. They made one agreement verbally and distorted it on paper. It is their responsibility to explain to the uneducated consumer what it is they are signing. No one ever bothered to explain to me they had amended our verbal finance agreement. I also believe I had been test-driving a GS model and when I came in to do the financing, I suddenly had a lower-end RS model, but the price was the same. (From the research Ive done, Ive learned that bait & switch is illegal.)
I've contacted the GM at Mark Mitsubishi, Dylan Mougel, via mail and through AUTO CAP, but it's been nearly a month and I've not gotten any type of response. Ive asked Mark Mitsubish to buy my vehicle back at what I owe on it so that Im not monetarily responsible for their dealerships omissions.
If anyone else knows of any other type of reasonable solution, please let me know ASAP as I'm close to voluntarily returning this vehicle, which will show as a repossession on my credit report.
(Please do not criticize me for any spelling or grammatical errors. I did the best I could!)
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