$1000 for placing an order

[kae02]

Hi,

I will be getting delivery of new car tomorrow with lease. Lease contract doesn't say anything regarding $1000 paid while placing the initial order. Anyone knows how is that factored in?

 

[segbrk]

That basically just becomes part of your down payment as far as I can tell. Not subtracting from it, but adding to it. E.g. if you choose to make a 10k down payment, your 1k deposit will make that an 11k down payment. You still put down your chosen down payment amount and first month's payment up front.

 

[kae02]

I selected $0 down though.

 

[segbrk]

I just revisited my lease document to check. There is a "Capitalized Cost Reduction" which includes my down payment and the 7500 tax rebate, but not the 1k deposit. The 1k deposit isn't mentioned anywhere. I see it listed in my payment history, but I guess I also don't understand how that works. Ask your DA and let us know?

 

[kae02]

interesting.. thank you for checking. Can you check your first payment? was it full monthly lease amount that is expected to be paid or $1000 less? I am assuming I may have to pay $1000 less on first month's lease payment.

 

[segbrk]

That's complicated... My lease document says my first payment will be full down payment + full monthly payment, so that's what I did. At least at the time, Lucid's payment system was kind of broken for leases and it looked as though I was buying the car outright. I coordinated this with my DA and ended up just typing in the number from my lease document as a "partial payment." Maybe the system would have subtracted the 1k deposit had it actually been working, I don't know.

 

[kae02]

My lease document doesn't factor in $1000 so just called my DA and he said to pay "partial" payment subtracting $1000 from the one shown in lease document as "Amount Due at Lease Signing" -> "Amount to be paid in cash".

 

[joec]

They screwed up on mine with this, actually. I ended up getting $1,000 refund months later. Kudos to them for catching it and informing me; I guess I was so excited to get the car I missed it.