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Leasing Secrets Revealed:
--Deceptive Sales Practices
--Secret
Price & APR Increases
--"Disappearing" Cash &
Trade-ins
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By consumer advocate & auto
expert Mark Eskeldson |
Dealers and salespeople claim that
leasing is the "smart" way to drive a car, using lines such as, "Leasing
is simple--instead of paying for the whole car, you only pay for the part you
use." However, consumer advocates and prosecutors have warned that many
people are getting ripped off. In 1994, Ralph Nader said, "Consumers are
getting gouged far too often...It's more like auto fleecing than leasing."
And in 1996, Florida Assistant Attorney General Jack Norris said, "Consumers
are getting robbed."
So
who's right, the dealers or the consumer watchdogs? They both are. Many people
have gotten great lease deals, and many others have been robbed. The ones in the
middle ended up with deals that they probably wouldn't have agreed to, had they
understood what was involved in their transactions.
If you're thinking about leasing, how can you be sure you won't be
overcharged? Or, better yet, how can you know that you're really getting a good
deal? By reading Leasing Lessons for Smart Shoppers. When you're
done, you'll know a lot more about leasing than most dealers (and automakers)
want you to know.
Ford's Deceptive Leasing Practices
In September of 1991, Mark Eskeldson
was on the radio exposing fraud at Sears Auto Centers--and in June of 1992 the
national newswires announced that Sears had just been busted. Now he's blowing
the lid off what could turn out to be the biggest consumer fraud of the decade:
deceptive sales practices that were taught nationwide, over a period of at least
six years, to dealers and salespeople representing the second largest automaker
in the country.
The author has
their training manuals and quotes from them in a shocking chapter on Ford's
leasing practices. You'll read how salesmen were taught to trick people into
leases, secretly increase the prices on vehicles, and conceal those prices so
overcharges would not be discovered. You'll read how former salespeople have
testified to these practices, and you'll read about actual victims who were
cheated because of them.
For
more details on Ford's deceptive leasing practices, see--
Ford Lease Information
Leasing Tricks & Scams
Salesmen have tricked many people
into leases by telling them that they would save money, but the truth is that
short-term (2-3 year) leasing costs more than conventional buying if the
purchased vehicle is kept for at least 4 years. (And that's assuming the lease
is an honest one.) Deceptive comparisons are often used to convince unsuspecting
consumers that bad lease deals are cheaper than conventional purchases. Instead
of saving money, people are often victimized by secret price and APR increases
because lease contracts usually provide little-or-no disclosure of these
important terms.
To help
consumers avoid overcharges, all of the typical deceptive sales tricks are
exposed in Leasing Lessons. You'll also learn how to calculate
your own lease and loan payments, how to do an honest lease-buy comparison, and
how to figure out what you really paid (in terms of price and APR) on previous
leases.
More Leasing Secrets
How to Get a Good Lease Deal
If you're the kind of person who
would normally buy a new vehicle every 2-3 years, and you don't care if this
practice costs a lot more than longer-term ownership, then you need to learn how
to negotiate (and recognize) a good lease deal. This book will teach you how to
get those "secret numbers" on the real dealer's cost, lease rates, and
residuals so you can be sure you're really getting a good deal. And you'll learn
how to calculate your own payments, which is the only way to be sure that you're
not being overcharged. (Remember this: All of the lease victims had one thing in
common--they trusted the salespeople to calculate payments honestly.)
Announcing "LeaseWise"
In this book, you'll learn all about
LeaseWise, the only national service that provides competitive bidding to help
consumers get the lowest prices on new-car leases. LeaseWise is a new program
from CarBargains, the non-profit car-buying service, and is the only program of
its kind in the country. And Leasing Lessons is the only book of
its kind that mentions it.
Leasing Lessons for Smart Shoppers
"Look before you lease."
Table of Contents
- How Leasing Works: The Pros & Cons
- Buyer Beware: Leasing Tricks & Scams
- Ford's Success Story: Was It Leasing or Fleecing?
- How to Figure Lease Payments
- Comparing Costs: Leasing vs. Buying
- What's a Good Lease Deal? (And How to Get One)
- CarBargains & LeaseWise: Shortcuts to Savings
- The Homework Section:
Resources for Getting the Best Deal
- At the End of the Lease: "To Buy or Not to Buy"
- "Single-Payment" or Prepaid Leases
- The Used-Car Lease
- The Future of Leasing?
- Open Letter to Ford Motor Co. &
All Ford/Lincoln-Mercury Dealers
- Worksheets
- Payment Tables
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Paperback, 144 pages
Published March, 1997
New discounted
price!
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