I know, I know, I’m the expert at negotiating. I’ve spent almost 30 years doing this – negotiating labor contracts, reaching resolutions on employee disputes, mediating, arbitrating.
Yes, longevity in a field qualifies as ‘expert.”
So let me tell you about what recently happened to me. How I used my expertise with a leasing financial company.
I lease my vehicles. I’ve done this for several years now. My good friend Sue, took the time one year to explain the benefits, pros and cons, of leasing. And I’ve been doing it ever since.
My last lease expired in March. And as usual, I had to think about getting a new car. But this post isn’t about how I “negotiated” getting the new vehicle. Maybe it’ll be the focus in a future post.
This post is how I negotiated with the lease finance company on the financial settlement after returning my vehicle.
Here’s the story. I returned the vehicle at the end of March. I had spoken to the company about the return and they generously allowed an extra week for the return. I didn’t even ask but they gave it to me anyway. (I told you I was good at this.)
So I returned the car at a dealership different from the dealership I leased from. I was told it would be OK. (Again, I’m really good at this.)
And then I heard…nothing. Nothing at all. Usually, the lease company will contact you after you return the vehicle and charge you for extra mileage, damages to the vehicle, etc. I’ve never paid more than a couple of hundred dollars for any of these items. And usually, if I lease another car from the same company, the damages get waived. This time though, I leased from another car maker.
And since I didn’t hear from the lease company, it’s now June. 3 months later. I begin to think I’m free…and clear.
Wrong.
On June 5th, I get my first letter from the lease company asking why I had cancelled my auto insurance on the vehicle I had returned in March. Of course, I ignored the letter. They are a big company, too big apparently to know what’s going on in their company.
On June 22nd, I get another letter. The lease company had done the inspection on the car on June 16th. Blah, blah, damages, blah, hail damage, blah, bad tire, blah, blah scratches and dents. And then they hit me.
I owe $1417.00! And I should use the form included in the letter to submit my check. Wait, $1417!!!
Luckily, they said, I had over paid my lease by $143 otherwise I would owe $1560!!
And then, I did what I do best! You think I would have sprung into negotiating action? No, I procrastinated. I waited to respond.
You see, I was busy with my charity event. I watched my grand kids. I visited with family members. Everything I considered more important, I did. I trimmed trees, I painted doors. I mowed the lawn. I worked, I played, even went to a baseball game.
And then, when I had done everything else I could think of, I again took out that letter.
I’ll show them. Don’t they know who I am and what I do?
After holding the letter for 3 weeks, I went to their online site and viewed the pictures of the “damages.” OK, the tire looked pretty bad. Not sure if there is supposed to be a walnut sized bump sticking out on the sidewall. But the hail damage? In the picture they put coins by the “hail damage” and I could clearly see the…coins. HA! I’m on a roll now. The scratches, the dents? Are you kidding me! Where is the phone number I’m calling them…NOW!
And so I did. But first, I game planned. I would question where the vehicle was stored in the 3 months since I left it and they inspected it. And then I would ask if they knew there were several “hail storms” in our area after I returned the car. Hail must have happened on their watch! I was strategically planning on negotiating them down from $1417 to hopefully half that amount.
I dial them up on a Friday. Whoever I talk to is probably anxious for the weekend to begin. More likely to be “persuaded” to crumble. A very nice woman answers and proceeds to repeat everything I say. As if I’m being recorded and they want to be sure they get it right. “Are you saying you are unhappy with the letter we sent?” Uh yes, for the reasons I gave you. Recovering quickly, I ask if they knew where my old vehicle was stored for the 3 months until it was inspected? (game plan) She would not answer, only repeating what I said. Finally, she says she will transfer me to a leasing agent for assistance. OK, this was just the warm up.
The leasing agent comes on the line and says, ” I understand you are unhappy with our letter?” No, I’m unhappy with the amount you “claim” I owe I retort. (a very good retort)
I ask him if he knew there were hail storms in our area after I returned the vehicle.
Nothing. No response. It was as if he was checking something. He was.
“Mr Terranova, we resold the vehicle on July 16th. OK, I say. “Well sir, since we resold the vehicle we are waiving all fees. In fact we are sending you a check for the $143 you over paid.”
Wait, what did you say. I owe…nothing?
Well now, how about that? I am good. Really good.
But, I have to ask.
What would have happened if when I had first opened the letter in June, I read it and mailed a check for $1417 as demanded?
“Well, Mr. Terranova, if there was any over payment we would have certainly refunded it to you.” Uh right…
Maybe they would have. I don’t know. But I do know this.
I procrastinated AND I’m a hell of a negotiator. They wanted $1417 and I got them down to $0.00!!
WIN WIN, baby!
Oh yeah, You can hire me too.
JT
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“I ain’t hiding from nobody, Nobody’s hiding from me.
They call me the breeze!