Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.The consumer gave permission for ** at Revdex.com to take her response over the phone.The consumer said she never spoke with the Service Manager at [redacted], she said she spoke with Mike who is one of their Service Advisors and another gentleman who is a Service Tech.The consumer said she was told by these gentlemen that the evaporator in the consumer's vehicle appears to be new, however, it is missing o-rings and this could cause the Freon to leak out.The consumer said the treatment she experienced while at [redacted] was very upsetting and she will never return to them.Regards,[redacted]
Good Morning [redacted]In Response...It is impossible to guarantee that a leased vehicle will have equity when turned in after the lease has expired. The value at lease end is figured by a percentage of depreciation of the window sticker. Ex: If a vehicle stickers for $30,000.00 and has a estimated value of 40% of the sticker at lease end, then the residual (value) would be $12,000.00. BUT....If the market value at lease end is only $11,000.00, then there is a $1000.00 negative equity that the leasing company absorbs. If the vehicle has a market value of $13000.00, then there would be $1000.00 of equity. This scenario rarely happens, but may have occurred on the previous lease. There is no way to guarantee equity at lease end as the used car market is very volatile and the values of used cars can change very quickly. In this situation, the market value was less than the buy out (residual), thus, there would be no equity. The market value at lease end has got to be higher than the residual to have equity. I hope this clears up the concern. If the customer needs additional information, I suggest she goes to Spitzer Kia and discuss with [redacted], the General Manager.[redacted]DirectorSpitzer Management
Hi, I disagree because when I leased the vehicle, the salesperson assured me if the vehicle was retuned in good condition and had low miles I would receive equity in it even if I did not release with them. The prior vehicle I retuned I received $1,465.00 in equity but I released with Kia. We called prior to the appointment to make sure if we did not release we would still receive equity and he agreed. I did not curse at anyone. I only asked why this vehicle did not have equity because it was the exact car I leased prior. They refused to answer. I am just requesting a valid response or restitution. Thank you
Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.The consumer gave permission for ** at Revdex.com to take her response over the phone.The consumer said she never spoke with the Service Manager at [redacted], she said she spoke with Mike who is one of their Service Advisors and another gentleman who is a Service Tech.The consumer said she was told by these gentlemen that the evaporator in the consumer's vehicle appears to be new, however, it is missing o-rings and this could cause the Freon to leak out.The consumer said the treatment she experienced while at [redacted] was very upsetting and she will never return to them.Regards,[redacted]
Good Morning [redacted]In Response...It is impossible to guarantee that a leased vehicle will have equity when turned in after the lease has expired. The value at lease end is figured by a percentage of depreciation of the window sticker. Ex: If a vehicle stickers for $30,000.00 and has a estimated value of 40% of the sticker at lease end, then the residual (value) would be $12,000.00. BUT....If the market value at lease end is only $11,000.00, then there is a $1000.00 negative equity that the leasing company absorbs. If the vehicle has a market value of $13000.00, then there would be $1000.00 of equity. This scenario rarely happens, but may have occurred on the previous lease. There is no way to guarantee equity at lease end as the used car market is very volatile and the values of used cars can change very quickly. In this situation, the market value was less than the buy out (residual), thus, there would be no equity. The market value at lease end has got to be higher than the residual to have equity. I hope this clears up the concern. If the customer needs additional information, I suggest she goes to Spitzer Kia and discuss with [redacted], the General Manager.[redacted]DirectorSpitzer Management
Hi, I disagree because when I leased the vehicle, the salesperson assured me if the vehicle was retuned in good condition and had low miles I would receive equity in it even if I did not release with them. The prior vehicle I retuned I received $1,465.00 in equity but I released with Kia. We called prior to the appointment to make sure if we did not release we would still receive equity and he agreed. I did not curse at anyone. I only asked why this vehicle did not have equity because it was the exact car I leased prior. They refused to answer. I am just requesting a valid response or restitution. Thank you