BEWARE -- PLEASE READ BEFORE DOING BUSINESS WITH HILLSIDE TOYOTA…read more
I went to Hillside Toyota about four days ago because I was interested in leasing an electric vehicle. We had already discussed the vehicle, and after the dealership closed I was told to go home and that they would contact me the following day.
They did call me back and told me to come into the dealership. They would not discuss the monthly payment with me over the phone. I came in excited and prepared to lease the vehicle.
Once I arrived, I sat down with Hasim, the finance advisor, and was told my lease payment would be approximately $1,070 per month.
Because that payment seemed extremely high, I specifically asked to see the money factor and an itemized breakdown of the lease so I could understand exactly why the monthly payment was so high. They refused to show me the money factor and refused to provide me with the itemized bill I requested. That was a major red flag for me.
Instead, Yasin, the sales associate, switched seats with Hasim and began explaining the numbers to me himself. That made me even more cautious because I was asking for the actual lease figures and documentation, not simply a verbal explanation.
I was also told that certain numbers were based on what the bank approved. Consumers should understand that while the lender can determine credit approval and financing terms, the dealership still controls important parts of the transaction, including the negotiated selling price and dealership-added products or fees.
The following day, Hasim contacted me about another vehicle, a Toyota Corolla. I was discussing a three-year lease with 15,000 miles per year, and the figures presented to me would have resulted in approximately $20,000 in lease payments. Considering the Corolla I was looking at was priced around the mid-$20,000 range, that seemed extremely expensive to me for a vehicle I would still have to return at the end of the lease unless I paid the additional buyout amount.
The three employees I personally dealt with were Hasim, the finance advisor; Yasin, the sales associate; and Mike, the finance manager. Based on my experience, I strongly recommend that consumers be extremely cautious when dealing with them.
My biggest concern was simple: I was being asked to consider a $1,070 monthly lease payment, but when I asked to see the money factor and an itemized bill showing how they arrived at that payment, they refused to show me that information.
Before signing any lease, ask for everything in writing: the selling price, money factor, residual value, acquisition fee, taxes, dealer fees, amount due at signing, mileage allowance, and total of all payments.
BEWARE. BE CAUTIOUS. DO YOUR OWN MATH. GET EVERYTHING IN WRITING. DO NOT SIGN ANYTHING UNTIL YOU UNDERSTAND EXACTLY WHERE EVERY DOLLAR IS GOING.
This review is based on my personal experience and the figures and information that were presented to me at Hillside Toyota
