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I have been talking to Promaster dealers and it turns out that there's a deal going via leasing, and buying out after a year. Does this look legit to you? Here's a copy of the FAQ and lease deal. Living in PA (for now) buying in WI. Feedback please. I'm not good at this kind of complication. Do you see any traps? I will be hiring a conversion company to do the basics, electric, plumbing, insulation, cuts (Max air fans) and likely doing the rest myself.

Step one: The rental Period
After you select your new van the first 12 months will be the renting period at the cost of $500
per month plus State Sales tax for total payments of $6,330 to pay for the entire year.
 Question: When and how do I make the payment for the 12 month period?
 Answer: This payment is made at signing and our normal payment process is to wire
transfer this into our company bank account. We also have a credit card payment plan
available that increases the cost by $100 for processing.
 Question: Can I convert the van into a camper or business vehicle without owning it?
 Answer: Yes, you can make all of your modification from day one of the rental period.
 Question: Who will carry the auto insurance on the van?
 Answer: You will carry the insurance. You will contact your auto insurance company and
tell them you will be leasing the van for 12 months. We will supply you with a document
to get the insurance set up correctly.
 Question: Being a rental is there a mileage limitation?
 Answer: Yes. The mileage limits are 20,000 miles for the year however if you decide to
purchase the unit after the year rental period the mileage limitation charge is waved.
 Question: When do I register the van?
 Answer: For the first 12 months we hold the actual registration and pay the necessary
fees. You will receive our state plates in the mail and put then on the van. Your
actual registration in your name will come at the completion of the 12 month rental
 Question: Can I purchase the van before the ending of the 12 month rental period?
 Answer: No. The 12 month period must remain in place or the initial incentive will be
charged back.

Step two: The purchase period
At the end of the 12 month rental period you own the first right to purchase the van completing
your transaction to ownership. This is completed through the US Postal system for signatures,
payment, and the transfer of ownership to your name.

 Question; How will I know when the 12 month rental period ends?
 Answer: We will be in touch with you prior to the ending to talk about your buyout.
 Question: How will I know the total amount due?

 Answer: We supply you with a document at time of initial rental that gives you your final
buyout price along with estimates for your states taxes and registration fees. These
estimates will be close however at the end of the rental period we will run your states
actual taxes and registration fees to give you the actual total due.
 Question: How do I pay for the van at the end of the 12 month rental period?
 Answer: You can pay by utilizing our financing, utilizing your own financing, pay with a
wire transfer directly into our bank account, or visit us and pay with a cashier’s check.
 Question: Must I come to Wisconsin to complete the buyout of the van?
 Answer: No. You can visit us if desired, but we are fully capable of doing all of the
paperwork through the US Postal Service.
 Question: How do I get the van registered into my name?
 Answer: We are affiliates of a Nationwide company that allows us to assist you with all
of your taxes and completing the registration process.

Based on my choices the quote is MSRP $47,800 (RV & Convenience package plus other extras) and my understanding is that the buyout net due at the end of the 1 lease year is $38.062, There may be tax advantages too if I buy it under my business. I have never leased before, nor to my knowledge bought a leased vehicle post lease. This will be a deal where I lease and then buy. I can do it financially. I like the savings. Any drawbacks you can see?

1. Identifying Terms: Lessor hereby leases to Lessee the following vehicle for a
term of 12 months to begin on the 28 th date of March 2021 and end on 28 th date
of March 2022.
Make Model Year Serial Number Rental Amt
Ram ProMaster 2021 enterVehicleVin $527.50
2. Periodic Payment: Lessee shall pay Lessor a total Year rental amount of $6,330
including tax payable upon the execution of this agreement. If monthly payments
is applicable, at time of rental, lessee shall pay lessor payments on the 28 th day
of each month, commencing on 28 th date of March 2020 for the full term of the
lease beginning upon the execution of this agreement
3 Security Deposit. Lessee shall not pay a security deposit.

4 Excess Depreciation: In addition to the set monthly lease amount provided in
Section (1) of this Rental Agreement, Lessee shall pay for mileage used in
excess of 20,000 miles in accordance with the following fee structure. This fee
structure reflects value depreciation to the vehicle through excessive use by the
Lessee. Excessive use by the Lessee of the rented motor vehicle is measured
by the difference in mile usage between the beginning date and end date of the
rental term in excess of 20,000 miles.
Mileage Fee Structure
0 - 20,000 miles INCLUDED IN RENT
> 20,001 miles $1.00 per mile


5 Duties and Warranties: Lessee shall be responsible for the following duties
relating to the rented vehicle: provide and pay for all gasoline, oil,
maintenance, cleaning, tire and battery replacements and all other
necessary repairs other than those covered by the standard manufacturer’s
new car warranty. Lessee shall use reasonable care in the operation of this
rented vehicle. Lessor shall permit said vehicle to be used by Lessee, Lessee’s
agents and employees, but by no other. Lessee represents and warrants that the
rented vehicle is for commercial purposes only and shall not be, nor is it intended
to be, used for family, household or personal use. Any such use is strictly
prohibited. Lessee agrees and acknowledges this is a commercial agreement. In
good faith, Lessee shall require reasonable care from its authorized user(s) of
said vehicle. Reasonable care by Lessee’s authorized user(s) includes but is not
limited by, the duty to maintain oil supply, lubrication, and radiator solutions.
Standard manufacturer warranty may be available for new vehicles subject to this
lease agreement. In the event Lessor is required by law or by the conditions of
this agreement to replace said vehicle, the original rented vehicle will be replaced
with another of the same make, model, year and being in equal or better
operating condition. In such event, all terms and conditions of this lease shall
apply to the replacement vehicle for the unexpired term of this agreement or any
renewal thereof.
maintain in effect an acceptable collision and comprehensive insurance policy.
Lessee shall furnish public liability and property damage insurance covering all
vehicles under this lease, naming Lessor as an additional insured. The minimum
acceptable limits of liability shall be $100,000 for injury or death to any one
person resulting from a single accident, $300,000 for all persons killed or injured
in any one accident, and not less than $50,000 for property damage and loss of
use resulting from a single accident. Lessee shall pay deductible amounts in
connection with any loss resulting from collision. Within the unexpired term of
this agreement or any renewal period thereof, Lessee may substitute the existing
motor vehicle insurance policy with another policy having similar coverage issued
by any insurer or sold by any other agent meeting the qualifications specified
within this Section of this lease. Prior to vehicle delivery, Lessee shall furnish to
Lessor a certificate of valid, binding liability and property loss insurance. Said
valid certificate is Lessee’s certification that the requisite insurance coverage is in
effect, further attesting to the fact that Lessor is an added insured. Such
insurance policy cannot and shall not be cancelled except upon ten (10) days
prior to written notice to Lessor and proof of new coverage beginning on upon the
termination of any prior coverage. In the event Lessee defaults on any insurance
coverage or fails to maintain coverage, Lessor, at its option may place insurance
on the vehicle and require Lessee to pay for the coverage. Any failure to obtain
coverage, maintain coverage or to make payment for coverage obtained by
Lessor shall constitute Default under Paragraph 7 of this Lease. xxx
Consumer Credit Inc. address must be listed as the loss
payee with lessee’s insurance company.


7 Conditions of Default: Lessee shall be in default under any of the following
conditions: 1) the failure to comply with any of the conditions contained in this
lease; 2) filing by Lessee of a voluntary petition in bankruptcy, 3) assignment of
this lease agreement by Lessee for the benefit of creditors, 4) formal adjudication
against Lessee as being bankrupt, where a receiver is appointed to oversee
Lessee’s business. Upon default by Lessee, based on the conditions of this
lease and in accordance with the law, Lessor shall terminate this agreement. In
this event, Lessee shall not be released from any liability to Lessor for Lessee’s
failure to make payment under the terms of this agreement or for Lessee’s failure
or inability to perform the conditions of this agreement. Lessee shall waive all
claims of injury suffered from Lessor’s legal execution of repossession. In the
event that Lessor brings legal action against Lessee to recover sums due or for
repossession of vehicle(s) rented hereunder, Lessee shall pay to Lessor the
reasonable sum of attorney’s fees for such cause of action. A reasonable sum
for attorney’s fees shall be 15% of total damages sought, if permitted by law, but
in no event shall it be in an amount less than fifty dollars ($50.00).
8 Early Termination: Lessee shall have no right to return the vehicle prior to the
end of the rental period. If Lessee returns the vehicle, Lessor shall pay no refund
on the rental amount. Lessee acknowledges and agrees that early termination is
not available under this Rental Agreement under any circumstance.
9 Vehicle Finance: Lessor retains the right to finance any vehicles now or
hereafter covered by this lease either by placing a chattel mortgage thereon, by
assigning Lessor’s interest under this lease, or both. Such chattel mortgage or
lien thereof hereinafter placed upon said vehicle(s) by Lessor shall not interfere
with or supersede Lessee’s right to quiet enjoyment and use of said vehicle(s)
without Lessee’s prior written consent. This right will not be unreasonably
10 Duty to Inform: Lessee shall inform Lessor immediately of all incidents relating to
accidents or losses to the vehicle(s) rented hereunder, regardless of the dollar
amount of damage.
11 Indemnity: Lessee shall indemnify Lessor of all claims asserted by third parties
(including Lessee’s employees, agents, or other authorized users) arising from or
in connection to the operation, use or condition of the vehicle rented hereunder.
Indemnification shall include, but not limited to, liabilities for losses resulting from
interruption or damage suffered by Lessee, Lessee’s authorized user(s), or
Lessee’s business otherwise attributable to any operating failures of said vehicle,
a party’s delay in making repairs, or a party’s delay in furnishing replacements

int ____

12 Title and Ownership: It is expressly understood and agreed by all parties that
this agreement is a contract of leasing only. Lessee acquires no ownership or
title to the vehicle and equipment rented hereunder. Lessee may remove any
accessories that had been installed by Lessee on said vehicle at the expiration of
this lease. Lessee agrees to pay Lessor for any damages assessed by Lessor to
have been caused by such removal.

13 Expiration of Term: Lessee has the right of purchase at the expiration of the
lease. When you surrender the vehicle at the end of the Lease, Lessor will
inspect the vehicle and determine the condition of the vehicle and mileage. It
shall be the sole, reasonable, discretion of the Lessor whether the vehicle
exhibits excessive wear and tear. Lessor shall advise Lessee of any additional
costs upon surrender. Lessee shall pay Lessor immediately upon presentment
of the additional costs. Lessor shall provide an itemized invoice at the time of
presentment. Lessee shall have the option to pay for the excess wear and tear or
purchase the vehicle from Lessor. After the period of 12 months and after all 12
rental payments have been made by Lessee, Lessee can purchase the vehicle at
a price of $ enterMSRPless7000on2022
14 less the 12 rental payments totaling $6,000 plus all tax, title, license, and dealer
doc fee of $399.
15 Lease Renewal: Lessee has no right to renew this Rental Contract. The
expiration of the rental term cannot be extended in any manner for any amount of
16 Return of Vehicle: Lessee shall return the vehicle rented hereunder, or
substitutes therefore if any, in as good condition as when accepted, with
exception to ordinary wear and tear, on the expiration date of this lease or any
renewal date thereof.
17 Assignment: At no time and for no purpose shall Lessee be held as an agent or
representative of Lessor. This lease may not be assigned by Lessee.
18 Modification of Terms: Any indulgence granted by Lessor to Lessee shall not be
construed as waiver of any right, term, condition, or privilege granted hereunder.
This lease represents the entire agreement between the parties. Lessee agrees
that no statements or promises, unless expressed in writing within this lease,
have been made by Lessor or its agents or employees.
19 Representations and Warranties: Lessee represents and warrants that the
undersigned is a duly authorized agent of Lessee and has the full authority to
bind the company.
20 Lease Continuity: All terms, conditions and provisions of this agreement as
applied to the original rented vehicle shall apply to all replacement vehicles for
the unexpired term of this agreement or any renewal thereof.



IN WITNESS of the following parties’ signatures, this contract becomes executed on
this 28 th day of March 2021.

1,158 Posts
Something seems kind of fishy about this. First off is why. 16 million vehicles get sold in this country every year. They get paid in cash, finance, or lease. Why do you have to rent it for a year first? Makes no sense.
The second is price. Looks to me like the 38k is the actual purchase price, and then this rental is on top of that. 38 is roughly right for a 3500 van. So the extra 6300 goes to, apparently, nothing. It’s just 6300 bucks you give them, after which they sell you a used van for full sticker.

Not sure what to make of this.

This isnt an offer, but I often see vans with crazy high mileage for around 10k. If you were to bring that to me (or any mechanic you trusted) I could put a rebuilt transmission and a used low mileage engine in it for around 7k. I could replace the engine and trans 4 more times, and you’d still be under what they are asking for this van all in. Or, you could sink the 29k you saved into the conversion.

2014 136” HR
5,721 Posts
Missing detail: interest rate after the one year.

I’m guessing they are betting on a gotcha. I am not even suggesting that this describes you (see below), but people who lease rather than buy without good business reason tend to not be financially savvy and thus have lower credit ratings, and thus are unable to get low-interest loans. At the end of the year, after you’ve put sweat and money into it, you are trapped. You HAVE to buy THIS van, and if you can't finance elsewhere, they can charge whatever interest rate they want on what, as KIP says, is essentially new van price. And if you can’t, they’ve got an upfitted van to sell.

Fortunately, you are savvy enough to understand this deal could be problematic. There are zero advantages for you here.

"Lessee represents and warrants that the
rented vehicle is for commercial purposes only and shall not be, nor is it intended
to be, used for family, household or personal use. Any such use is strictly
prohibited. Lessee agrees and acknowledges this is a commercial agreement."

This means you can’t even take weekend camping trips without breaking the lease. More importantly, it means that you forfeit all of the consumer protections provided in federal/state laws. You are presumed by law to be as legally savvy as the slimeball who wrote this.

Bottom Line: This contract is baaaad. Anything the salesman says is totally irrelevant. The only terms that count are those included in the "four corners" of the contract you sign your name to.
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