Down Payment Insurance

I know people get a lot of crap for putting a down payment on a lease, and this probably sounds stupid but I was wondering if there was such a thing as down payment insurance instead of gap insurance?

Never heard of that

You just invented it.

Sweet. Anyone want to invest? I accept etransfer :laughing:

But for real, you think an insurance company would be willing to provide it? Guess I should make a few phone calls.

Or just don’t put down a down payment…

What’s the end goal?


Honestly just to save on interest. I’ve been looking at BMW, Infiniti, etc leases the past week, and turns out Tesla just started offering a lease for the Model 3 in Canada today, and now I’m leaning towards that. Problem is they don’t show their interest rate & I don’t think its negotiable, so I’ve been playing with their calculator and a $13,000 down payment saves $1,400 over 48 months or 30/month. Although now that I see the numbers I could probably make more $ investing a potential down payment than it would save me on interest. :man_shrugging:

Don’t lease a tesla


Put your downpayment into Hertz and JCP shares instead… Stonks only go up :wink:

While I’m not certain about Canada you could look at an Agreed Value policy on your auto. Though the few carriers that offer it Typically also require a high value home and other coverages to go with it. Of course it costs more than an Actual Cash Value policy.

I’m with most of the others here that it just isn’t worth it to put 13k down to save $1400 and then attempt to give an insurance company some of the $1400 to cover the difference.

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Don’t lease a Tesla, their leases stink. And don’t do a 48 month lease, they stink too

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My effective interest rate is 0.74% on my lease. Read the leasing 101, look for leases with a low money factor, apply MSDs if possible. Never put money down on a lease to lower the payment.

Yup-just invest in a Money Market Portfolio (average ROR is 10% annually) so that $13K can earn ya $4303 for the duration of that lease :slight_smile: :money_mouth_face: so with the RULE of 72 you will double your $13K investment in 7.2 years

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Compared to other rates I’ve seen it beats them all after factoring in EV incentive and gas savings, esp in Canada where I’ve seen little to no lease incentives and extremely poor residuals. And on Tesla’s website it only shows an option for 48mo unfortunately, but I’m gonna see if they would do less.

Hahaha, ACB calls?