Security deposits do not cover damage repaired using proceeds from insurance plus gap coverage. The only way you would lose the security deposit is if you fail to make your lease payments, or you terminate the lease early without paying the accelerated payments plus the 4% early termination fee.
I did read that other guy’s story, but it doesn’t make sense to me. My contract states that as long as I have insurance at the time of the accident, they waive any difference between what my insurance pays them, and what is still owed on the lease.
At any rate, the total cost difference was large between putting down MSD’s vs sign and drive. It doesn’t work like that in every case, but in mine it did. …and yes, my credit score was 846 out of a max 850 according to the report they pulled for this lease.
Congrats! Beautiful car! I was seriously considering one of those but ended up with a AMG EQE, also loaded, but sticker was 40k less These were my first choice but didn’t want to spend that much. It’s interesting how the magno paint looks amazing on the EQS and not nearly as good on the EQE. I ended up with a red one. Very happy overall.
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