Feedback on new service - LowerMyLease.com
Thread Starter
Former Vendor of MBWorld
Joined: Jan 2005
Posts: 583
Likes: 0
From: Cincinnati, OH
Feedback on new service - LowerMyLease.com
I would like to get some feedback, preferably by email, on a new service we are getting ready to launch.
LowerMyLease.com
It's geared towards those who are currently leasing a vehicle.
Thanks in advance for any and all responses.
LowerMyLease.com
It's geared towards those who are currently leasing a vehicle.
Thanks in advance for any and all responses.
Super Member
Joined: Dec 2002
Posts: 740
Likes: 0
From: Charlotte, NC
No longer car shopping...
WOW! That's EXPENSIVE!
You asked for feedback and though you may not enjoy it, here it goes....
EXPENSIVE FEEs that is. $395 turn in, nearly a grand for "Bank Acquisition fee" (i.e. Payoff the prior lender?) and $150 to inspect a car I've already been driving for two years. Plus another $99 in "documentation fees. HaHa, I don't think your going to get a LOT of people interested in lowering their current $500 monthly bill (and extending the payoff duration) by lowering their monthly bil by $150 if you charge them $1,145 UP FRONT to do it. They essentially add ~9-to-10 months of expenses onto their current bill and THEN finance that amount? Who would be CRAZY enough to do THAT?
Seems like a pretty darn lucrative deal for your company though. Not only do you get the money factor fees, but you also rack in the up front fees.
Thanks again, you just reminded me why I NEVER lease a car!
EXPENSIVE FEEs that is. $395 turn in, nearly a grand for "Bank Acquisition fee" (i.e. Payoff the prior lender?) and $150 to inspect a car I've already been driving for two years. Plus another $99 in "documentation fees. HaHa, I don't think your going to get a LOT of people interested in lowering their current $500 monthly bill (and extending the payoff duration) by lowering their monthly bil by $150 if you charge them $1,145 UP FRONT to do it. They essentially add ~9-to-10 months of expenses onto their current bill and THEN finance that amount? Who would be CRAZY enough to do THAT?
Seems like a pretty darn lucrative deal for your company though. Not only do you get the money factor fees, but you also rack in the up front fees.
Thanks again, you just reminded me why I NEVER lease a car!
Thread Starter
Former Vendor of MBWorld
Joined: Jan 2005
Posts: 583
Likes: 0
From: Cincinnati, OH
Actually we do a lot of these through www.LeaseCompare.com which is why we created a whole new service for it.
The fees vary by lender, age of vehicle and your location. So not all fees would apply. Most people that have used our service to re-lease have reduced their payments or shortened their term because our money factor was lower.
We normally will not save them money on their payment if they leased through a subsidized special program from the captive.
The fees vary by lender, age of vehicle and your location. So not all fees would apply. Most people that have used our service to re-lease have reduced their payments or shortened their term because our money factor was lower.
We normally will not save them money on their payment if they leased through a subsidized special program from the captive.
Originally Posted by ndabunka
You asked for feedback and though you may not enjoy it, here it goes....
EXPENSIVE FEEs that is. $395 turn in, nearly a grand for "Bank Acquisition fee" (i.e. Payoff the prior lender?) and $150 to inspect a car I've already been driving for two years. Plus another $99 in "documentation fees. HaHa, I don't think your going to get a LOT of people interested in lowering their current $500 monthly bill (and extending the payoff duration) by lowering their monthly bil by $150 if you charge them $1,145 UP FRONT to do it. They essentially add ~9-to-10 months of expenses onto their current bill and THEN finance that amount? Who would be CRAZY enough to do THAT?
Seems like a pretty darn lucrative deal for your company though. Not only do you get the money factor fees, but you also rack in the up front fees.
Thanks again, you just reminded me why I NEVER lease a car!
EXPENSIVE FEEs that is. $395 turn in, nearly a grand for "Bank Acquisition fee" (i.e. Payoff the prior lender?) and $150 to inspect a car I've already been driving for two years. Plus another $99 in "documentation fees. HaHa, I don't think your going to get a LOT of people interested in lowering their current $500 monthly bill (and extending the payoff duration) by lowering their monthly bil by $150 if you charge them $1,145 UP FRONT to do it. They essentially add ~9-to-10 months of expenses onto their current bill and THEN finance that amount? Who would be CRAZY enough to do THAT?
Seems like a pretty darn lucrative deal for your company though. Not only do you get the money factor fees, but you also rack in the up front fees.
Thanks again, you just reminded me why I NEVER lease a car!
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
