Mitsubishi Motor Credit Of America Ripoff Diamond Advantage Plan (MMCA) Mitsubishi Motor Credit of America Diamond Advantage Lease Plan Chokehold Earth City Missouri
I went to the Mitsubishi dealership called Charlie Thomas Mitsubishi located on 13800 Gulf Freeway in Houston, TX, following an advertisement for a Astrovan (or something like that) for $10000. I was at the end of a lease with GMAC (that's another complaint). I had hoped to more or less trade the vehicles. The salesperson Gary Lee convinced me that I didn't want that vehicle although it's the first time I saw an advertised low-priced vehicle actually on the lot. He showed me the 2001 Montero Sport LS.
We did the numbers and found that I could not afford it. I told him I was currently at the baloon payment of a lease that I was trying to find an acceptable way out of since GMAC would not refinance the balance and no bank would since I owed way more than the vehicle was worth. He told me about the Diamond Advantage lease. He said that I could lease the vehicle but had to keep it at least 3 years.
I thought that was perfect. If I got tired of the vehicle in 3 years I could return it but would have to return it in 5-1/2 years. I thought there really would be very little pressure about returning it without purchasing or leasing another. I agreed. The paperwork was written up. I wish to this day that I would not have been such a fool as to believe anything that isn't in writing when it comes to these types of things. I went to return the vehicle at the end of 3 years because the dealership was sending me notices that they wanted to buy my used Montero.
I went and found out that they wanted me to trade it for another lease or buy situation. I did not want another Mitsubishi. The vehicle served me well but I was too angry about the trick of being told I could return it in 3 years with no strings and then not being able to do it. I was also angry about driving over 50 miles to find that out. That added mileage. I have toughed it out and it is now the end of the lease agreement and so many new things have come up.
I still did not realize that I could not just take the car to the dealership after making the final payment, leave the keys and walk away. I did not know that there was a power of attorney to sign to release the car to them since I never thought it was mine to release. I did not realize that I had to schedule an inspection and then wait to receive the final report/invoice from the inspector as to any final costs I may need to pay.
I did not realize that after the inspector looked at it that I could not leave it at the dealership. I did not realize that after I receive the report, I have to call Mitsubishi Motors to let them know which dealership I am leaving the vehicle with. It seems to me that all they would have to do is enter the VIN and that would report where I left it.
I found out all of this by calling over 5 times. I hate that although they advertise this Plan as a no pressure at lease-end, it is. When you call to ask questions, they ask every time why don't you want to keep it. I should ask them why don't they want it back? Resell it. It's in great condition. I am so upset with Mitsubishi, this Plan and myself for not walking away and finding another way to deal with my situation. I paid $462.55 a month for 65 months. I'd say that I paid for this vehicle and the "trade-in" that I left plus interest, taxes and title. Yet, I still owe almost $11k. I don't imagine an attorney can help with this because I signed it.
I can't prove that this was not the agreement I signed. It is certainly not the agreement I thought I made with Mitsubishi through the dealership. I am now waiting for my final check to post so that I can schedule an inspection and hopefully, very soon, be walking away from this vehicle and MMCA. I am very stressed about it because I imagine that they will consider something to be beyond normal wear and tear and charge me more than a car note but not much less than the total amount due. I am fearful that I should call them again and ask what else do I need to know.
Lesson painfully and expensively learned. Stay away from leases unless you are a big corporation and/or know that you really don't mind trading one lease for another and another forever Amen.
Lisa
Spring, Texas
U.S.A.
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4 Updates & Rebuttals
Lisa
Spring,Texas,
U.S.A.
RESOLVED!
#5Author of original report
Sun, November 12, 2006
I am so happy to say that I made my last payment on the Montero early, the first week of November. I kept checking the bank to see when they posted the check. The day that happened, I called MMCA to get the number to have the vehicle inspected. A week later, this past Wednesday, Nov. 8, the car was inspected. The results were posted Nov. 10. It passed. There was normal wear and tear listed for $66.50 and $0 listed for excessive wear and tear. I called the nearest Mitsubishi dealership and arranged to bring the vehicle in that evening. I am free! I don't know if I moved too fast for them to have time to pull any more stunts like repossessing the vehicle out of the driveway or what. I know I got a good inspector and he could see the vehicle was cared for as if it were mine forever. It had fairly new tires on it (11/32). He said he'd buy it. I was well under the alloted mileage at 50,014 at final turn-in.
A lease is a miserable thing to have if you are not a business owner and can write it off. It's a waste of money for a private lessor in my opinion. The lease-end was the worst stress I can remember ever being in.
I hated every time I called to ask the next step. They don't send a lease-end checklist to let your recap your options and the steps to take under each option. Every time I called and asked a question about the next step, they asked me why I didn't want to keep the vehicle and there was a diffent answer for each step. I just wanted to end the lease. I toughed it out. I'M FREE!
I used my credit union membership, put $2500 down on a Toyota Corolla S on October 24. I got a 5.5% interest rate on a 4 year loan and I am as happy as I can be. Thank you very much Thomas -Anderson of South Carolina. LOL!
I will never do a lease again especially not with Mitsubishi Motors. I would not recommend MMCA or auto leasing to anyone.
Thomas
Anderson,South Carolina,
U.S.A.
Well, Lisa, what are your future plans?
#5Consumer Comment
Thu, November 09, 2006
Save your money and pay cash next time?
Join a credit union, and when you need a new car you obtain your financing from your credit union?
Or will you wander into a car dealership unprepared, uninformed, and simply believe their lies?
There are many auto-info resources on the web: Fighting Chance comes to mind. Edmunds is another, but I consider Edmunds "pro-dealer".
The people in a car dealership can read their potential customers like books. They know if YOU know. They know if YOU have money to buy a car with, or if you are looking for a miracle. And so on. The way they read you determines how they will treat you. Being male or female has a lot less effect on how you fare at a car dealership than their perception of how well prepared you are to deal with them.
L
West Haven,Connecticut,
U.S.A.
This might can help
#5Consumer Comment
Thu, November 09, 2006
I'm in the same boat as you but i'm in Connecticut. I somehow got into the same Diamond Plan back in 2001 with getting a Eclipse GT. I was paying $422.00 for 66 months and actually this is my last month and now going through the process of wanting to return it and it seems like MMCA is more on me keeping it or either getting another car. The balloon is $9,000.(not to mention I traded in a car) I told them the car is in excellent condition and only have 45500 miles on it for almost six years old. I started complaining from the beginning I purchased a Extended Warrenty which I find out expired 8 months after I got the car I called MMCA didn't want to know nothing.
To make a long story short there was a big article here in CT in the news and newspaper on the dealership I got my car from that was closed down for fraud and illegal activities. I have a number to the US Attorney General and it was another number that I called and eventhough were in CT they might can lead you to someone who can help you.
Lisa
Spring,Texas,
U.S.A.
MMCA Really Holds A Chokehold
#5Author of original report
Thu, November 09, 2006
I have to continue. MMCA really does not want the car back. You can make the last payment, arrange the inspector and still they won't tell you what the final cost, if any, is. I want to know what the cost of having them repair whatever they consider to be above normal wear and tear and I can't get it. They want to make me wait until the balloon payment is due. This is outrageous. I don't want the car anymore. I don't want to carry it on my insurance any longer. They don't want the car back.
I can't understand why they would not want the vehicle back while it is well under the alloted milage and in excellent condition. I don't know how any other lease works but this has got to be amongst the worst. I don't understand why they can't send to the customer a lease-end checklist listing the options and the items that needed to be done depending upon the choice the customer makes.
I have to call to get each step and then answer the same dumb question: Why don't I want to keep it? The whole selling point of a lease is that if you are a person who generally doesn't want to keep a car for more than 3-5 years, this is perfect. Too bad I didn't think that they would push to keep me in a Mitsubishi or try to hold over my head that they will charge me more for excess wear and tear if they know I have no intentions of buying another Mitsubishi.
I hate this. Whenever I get out of this situation, I will NEVER look at another lease, purchase another Mitsubishi or even look in the direction of one of their dealerships.