Acquisition fee vary?

[JPAPS]

I am going tommorow to pickup my ordered new 2008 CTS Black/Black DI RWD with Performance Luxury,18 polished all season rims +Bluetooth .. Dealer faxed me the lease sheet and on it he changed the GMAC Acquisition fee to $695 from $595 stating that NJ is $695. Can anyone validate this? Are Acquisition fees based on State. Also in my payment I was told tax is 10%.. 7% is State and there is a 3% lease tax.

[Nancy116]

Hey JP -- I don't know about the acquisition fee, hopefully someone else will, but I do have a question about the state tax. When I moved from PA to NJ, my lease payment went from $585 to $540. GMAC completely removed all state tax. I thought maybe NJ had no lease tax, but I've seen others say there's a 7% tax in NJ. I mean, I'm not gonna remind them but I just thought it was strange....

Anyway, mind if I ask where you're getting your car and what kind of deal you got (and on what sticker price)? I'm in South Jersey too....went by DeSimone the other night, they had tons of inventory so I was thinking of trying there. Congrats and good luck with your new car, look forward to pix!

[JPAPS]

Nancy-
I posted the deal in another thread http://www.cadillacforums.com/forums...69-post29.html (Leases: Now That It's Been Several Months, Anyone Snag a Nice Deal?) Not sure how well you will do with negotiating with cars on the lots. I used supplier pricing and one of the dealer requirements was it had to be ordered. I am currently working with Hill Cadillac in Newtown Square , Pa. I emailed several in our area and Hill's Internet manager was the first to respond. Never got to checkout DeSimone, there is also a dealership in Turnersville. I will be looking for a good service dealership.. not to sure I like driving an hour away ... unless it is truly worth it. I should have more info tommorow after pickup and signing.

[Nancy116]

Oh, OK, I was on that thread last night, I'll check it again. That's interesting about having to order the car to get the better deal -- I always thought they gave you a better deal if you were willing to take a car out of their inventory...you know, drive it off the lot that day before you could change your mind. But what do I know. I got my 05 from Hill, that's where I used to live. When I moved here I got it serviced at Burke, which is a dump -- no offense to anyone from Burke. Hill is at least more upscale in appearance and they only deal in Cadillacs. Good luck tomorrow!

[figgie]

JPAPS

The Aquisition fee.


Here is a little mind excercise for you.

When the bank loans you money on a car loan, do they charge you an aquisition fee? (the answer is no). Leasing is a loan, so what makes it special? The amortization of the value of the object being purchased? No different than the future value that has to be calculated on a loan!

Aquisition fee is not law. It is a dealer item. Ie, one dealer can be $200 the other $1000. I myself would question the $695. But that is just me!

On the Tax end.

did the stealership become taxing authority now?

The tax is based on the tax you pay the STATE (7% for NJ) based on the monthly payment NOT the full value of the vehicle. Does this stealership belong in a city that charges 3% more? There is no such thing as a lease tax.

http://www.state.nj.us/treasury/taxa.../ssutlease.pdf

based on sales tax

so basically they are attempting to take you for a ride.

Tell them in this exact words.

Take the 3% off or they have a nice black black car on thier lot to sit on thier lot as you walk off.

No I am not kidding.

[cadillacroadside]

you may need to renegotiate... a dealer can absorb any fee they feel necessary in order to do what they need to seel u a car...what dealer are u using im in nj as well?

[Mplsspyder]

Aquisition fee is GMAC not the dealer.

[cadillacroadside]

doesnt matter, the dealer sets the payment with approval from gmac, your loan gets approved by gmac for a certain amount the dealer can then go from there in price negotiation. when you purchase or lease a vehicle..you know the payment amount when you leave?? gmac doesnt until the dealer applies for that amount of money.

[2laidback]

That is a real shame that a person has to go through so much BS to get a set of wheels!

[lordbaby]

required or not, sounds like a lot of hidden fees