Real Life Real Lease Stories
Rob K. a Mississauga, Ontario real estate agent came to the conclusion that a very sporty Dodge Nitro SXT AWD was not depicting the image that he wanted to portray. Rob was a victim of change (although the change was in his personal perception as opposed to anything else); this change motivated him to explore getting out of his Dodge Nitro lease and get into some a little more luxurious and upscale.
Rob negotiated an excellent deal on his Nitro and put a significant down payment at the same time; he was paying just under $250.00 per month and he put down approximately $7,000.00 in order to cause the low monthly payment. Real estate agents often prefer lower payments on monthly obligations in order for them to keep their debt servicing responsibilities at a minimum in the event of an unexpected market turn. During his decision making process, Rob heard a Leasebusters radio advertisement and decided to check out the Leasebusters.com website. Rob had “sort of” heard of Leasebusters but really never investigated the organization since the need never arose (until now).
After surfing the lease-take-over deals at Leasebusters.com, Rob decided it was time to pre-register with Leasebusters and allow one of their professionals to supply him with a (no-charge) market position evaluation and assessment of his lease package. Rob, unlike many customers, did not consult with his original selling dealership to get their opinion; he felt that his dealership specializes in the sale and lease of new cars and Leasebusters specializes in the remarketing and sale of lease-take-over vehicles.
The Leasebusters sales analyst that was assigned to Rob’s file was Burt Carvalho. Burt is a 10 year veteran of Leasebusters and was able to quickly identify the “prize” of a deal that Rob was offering. Burt explained the overall lease transfer concept to Rob as well as the sales process, the vehicle “show & tell” process and the delivery protocol. Rob indicated that he was very impressed with Burt and how he was able to describe the complete experience from end-to-end (and the subsequent accuracy of Burt’s descriptions).
After the evaluation stage of the Leasebusters process was completed, it was mutually agreed by Rob and Burt (the Leasebusters sales analyst) that Leasebusters should be retained to find a new customer (Buyer) to take over Rob’s Nitro lease. The “gauntlet” was about to be open.....
Rob was inundated with telephone calls from every part of Canada; it almost seemed like every customer that was looking for a midsize all-wheel-drive sport utility vehicle/crossover tried to make contact with the Seller. Within two hours of listing the Nitro, Rob had made contact with a very serious customer from Montreal, Quebec who made a commitment to take over the lease, sight unseen and without any conditions (aside from the accuracy of the details posted on the listing). Rob was taken aback with not only the quantity of telephone calls but also the quality of prospective customers that called; the majority of the people were respectful, polite and professional individuals that were genuinely interested in taking the vehicle. There were, however, the odd individual that still wanted more!! (I suppose the old adage held true: “You don’t ask, you don’t get...”).
The Buyer from Montreal sent his credit information to the original selling Chrysler dealership (Seven View Chrysler in Vaughan, Ontario – just north of Toronto) as Rob concurrently informed the dealer contact who handles lease-take-overs of its impending arrival. The dealership and Chrysler Financial Services were both very instrumental and professional with respect to the administrative component of the lease-transfer (which included credit application submission, credit investigation, lease transfer approval and lease transfer documentation). Upon achieving transfer approval and the arrival of the lease documentation, Rob dropped off his Nitro at the dealership, sign-off on the lease-transfer document and left; the next day, “Montreal” arrived at the dealership, signed-on and took delivery of the Nitro. The dealer contact witnessed the signatures on the lease-transfer documentation and the deal was closed; Montreal drove the vehicle back to Quebec and Rob was officially liberated from his lease and free to do a deal on an upscale replacement vehicle. Taking over a lease sight unseen could be a stressful experience however if both the Buyer and the Seller are reasonable and digital photos of the vehicle are exchanged, more often than not, there are no surprises in terms of the vehicle’s conditions. Rob’s Nitro had only 21,000kms and was under full warranty so many of the uncertainties attached to a purchase of a used car didn’t really exist given the integrity of the subject vehicle.
As Rob was fielding all the telephone calls and making his lease-take-over deal with “Montreal” he began shopping on Leasebusters.com for his replacement vehicle. To Rob’s “shock” and pleasant surprise, he found a BMW X5 lease where the customer put down a significant down payment (more than he put down on the Nitro) and he immediately reacted. Within days, Rob had taken over a lease of a BMW X5 and his Nitro lease was taken over by a happy Buyer.
This “Real Life Real Lease Story” has several happy endings and happy customers. Rob was happy to get out of his Nitro lease and get into a BMW X5 (the transaction results meeting all his needs); “Montreal” was happy to take over the Nitro lease, the BMW X5 was happy when Rob took over his lease and both Chrysler Financial and BMW Financial did not have to collapse and terminate a lease that was on their books.
The Leasebusters “Real Life Real Lease Story is a regular feature on Zack Spencer’s www.motormouth.ca, Leasebusters.com’s LeaseBlog and will also be an on-air feature on Zack Spencer’s Driving Radio Program aired nationally on the Corus Radio Network. |