Hello all, I am new to the leasehackr forums and first off I do really want to just thank everybody for all the great information being tossed around. This website is a great car buying tool.
That said Just wondering what you guys think about this lease deal in the So Cal area.
Working for an insurance company as a Auto Damage Adjuster these are one of the hardest cars to total trust me.
even in the event (God Forbid) if the car is a total loss and payoff amount is less than total loss amount lienholder typically will give the positive equity to the customer.
No it is not. If you have equity you will get it back. The advise against putting money down is because there usually is no equity in a leased vehicle when it is totaled. If you upside down the gap will cover the rest of the payoff. But any money down is lost.
If there is positive equity, it goes to the finance company since they are the “legal owners” of the vehicle. It is at the sole discretion of the legal owner to reimburse you that positive equity.
I have yet to see any of my customers tell me the leasing company did not reimburse them their positive equity on a leased vehicle.
Yes, MSDs lower MF and there is a limit on how many MSDs you can. In general MSDs are great way to “invest” your money.
You get your MSDs back in full after lease. Down payment however is basically an initial payment towards your lease liabilities. Lots of smart people in here made it clear that you might/will not get it back in case the vehicle is totaled. This is a risk and all of us to avoid any risks with our $$$$$.
If your MF after MSDs is 0.0006 what is about 1.4% APR. You better invest your down payment $5000 in high yield online savings account at 2.25% now.
Based on all the info above there is no reason to put money down.
They come with so much safety gear standard now.
Had one as a loaner recently and I swear I could have driven it drunk as a skunk and been just fine.**
In any case, CCR ends up as a sunk cost which as previously mentioned becomes at risk in case of loss.
**I do not endorse drunk driving, just making a point…
He is getting 12.5% discount already. I doubt they can beat it when you take into account their commission. Their comments are useless. They need to contribute more than just call me.
The only "negative " is the high cap cost reduction but that doesn’t change the over cost of the deal.
