September 13 I drove to Fiesta Ford with an interest in a Lincoln LS. Because of the incentives Lincoln was offering to clear their 2003 models I was sure to make a purchase. Also Fiesta Ford was advertising an incentive called "Early Lease Release" where you make your best deal on a new car @ Fiesta and we will pay off the remainder of your lease no matter what you owe. Well sounds like a win, win situation considering I had a 99 Expedition leased with 1yr to go.
After finding the LS of my desire the negotiations began. I brought in my leasing agency information and the salesman called in for payoff information. He took the keys, I assumed to run an appraisal. The closer, Gil, came to me with a rough draft of the numbers as far as how much my monthly was going to be which was about 500.00 bucks. I had done some homework on the interest rates and the amount financed was in my ballpark. I said I would donate 3000.00 bucks to the cause to achieve my target payment of 460.00 per month.
Gil said you've got a deal. The car I chose was a showroom model which took an hour to get out of the showroom. They called me in to sign documents in their hurry up mode and I agreed to add Lo-Jack, extended warranty, and GAP insurance.
After signing documents I checked on the car status, another hour to change the battery "some showroom policy" the salesman said. He also said it would be another hour to detail the car. I said can I take my Expedition home until the car is ready, I had been at the dealership for 3.5hrs. The salesman said it was mine to take, which was when I started to get a little concerned so I asked how the "Early Lease Release" program worked and the salesman said he wasn't clear, so we found Gil and he said the lease term is paid in advance and I could keep the vehicle as an extra or leave it with them. I said I'll just take it home and use it until the lease term is up. I came back 2hrs later to pick up the LS.
A week later I received a letter stating the contract had been recinded and to return the LS to the dealership. I was then contacted by the document guy who said the interest rate was changing from 1.9 to 3.9%. Confused I went in and signed a new contract which was dated the date of the original sale. The document guy said they discounted the car price to offset the percentage change. Then I received a letter from Ford Credit stating Fiesta made a mistake and the interest rate was back to 1.9%.
I started reviewing the contract and price, which I should have done the first time. I noticed the discount was 1860.55. That seemed honorable to me. However that was the only Fiesta discount I received in the big 2003 clearance sale and only because of the interest change. The original deal included a 2000.00 factory rebate I forgot to mention earlier.
Anyway after I took the vehicle home I noticed some problems. The rear passenger door was misaligned and stuck out as if it were not shut properly, the driver automatic door lock did not work automatically or from the buttons, and some deep scratches. I took the vehicle in to repair the imperfections without a hitch.
During this time I noticed no effort was made to payoff my leasing agency so upon picking my car up I inquired to the document guy, "where is the $4000.00 check for the lease agency on my 99 Expedition", which he replied "not on the contract." My world collapsed at that point!
I am now left to make three car payments instead of two and cannot afford three car payments nor would Ford Credit have approved me to handle three car payments by debt ratio. I spoke with the Director of Finance who was at first accusing me of some kind of scam to joyride the LS and return it used. I became a little irritated by that assumption. She said she would review the file and get back with me. No return call.
I went to pick the car up after repairs only to find it damaged on the front bumper by the service dept. Yet again the car is back in their hands for more body work. I went in to catch the Director, which I did, who apologized for not calling. She told me the GM would conduct an internal inquiry with the salesman, closer, and others on the matter and get back to me.
No return calls after a week of patient waiting. I'm now concerned about a possible reposession of one of my vehicles so I'm paying every cent I have to meet the payments waiting for Fiesta's reply.
I made contact with the Director again who said the GM was in a meeting and would contact me in a few minutes. No return call. I called Ford Credit to see what they could do. Dead end.
Dealerships are private entities, out of their jurisdiction even though they (Ford Credit) are the losers in this deal due the loss associated to repo and wholesale return on the vehicle which they paid Fiesta in full.
It's November now and I still don't have a working door lock (parts on order), no Fiesta reply. I am now trying to get a 2nd mortgage loan to cover the lease and sell my truck to get out of this financial hardship inflicted upon me by Fiesta Ford. I probably won't qualify for the loan because of the three car payments on my credit report which I have spent the last 4yrs trying to rebuild after a BK associated with company restructuring.
I also learned that they never intend to pay-off your lease in their "Early Lease Release" only add it to the price of the car according the the document guy, which to me is false advertisement and a scam. No one could explain how it worked and as far as I can see there is no such incentive. I'm living proof! Check your contract, read the fine print, and never assume the dealership is looking out for you or the financial institutions they are associated with.
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