One-Pay lowers the MF by .0008, which is the obvious pro. Wondering if you guys had feedback on what are the drawbacks? Does it complicate or simplify things when turning it in? Do you miss out on opportunities related to loyalty accelerator program?
In my scenario, seems like one-pay reduces the effective payment by about 2.5% compared to 0 drive off with MSD’s. Is it worth it?
I’m in Georgia, so taxes are upfront. It’s for an EQS, so I’m going to guess there will be substantial negative equity and not going to be a lot of benefit to selling early.
“If this is a single payment lease, you will receive a refund equal to your lease payment divided by your Lease Term (as shown on page 1 of this lease) times the number of months left in this lease at the time of the loss of the vehicle.”
One last question to all you knowledgeable people - I know MBFS does not generally allow lease transfers. If I got tired of this vehicle and wanted to give it to my who Dad who lives in another state - what are my options? Do they make exceptions for transfers within family? Can I just somehow get him on the title and registration as a joint owner? I’m unfamiliar with how that works outside of when you own the car outright.
Yeah, you’re right. Went straight to the complex scenario. I blame my newborn who hasn’t allowed me more than 3 straight hours of sleep for the past 13 weeks.
Definitely interesting and I’m not sure what to make of it - it specifically states that down payments do not include monthly payments made in advance. Which is essentially the definition of single payment lease. However, if you get the wrong person and they don’t interpret the rules that way - then what can you do?
Not sure whether this is just an N=1 of bad experiences at the Georgia DMV, or if it is a common occurrence and One-pay leases should be avoided.
Since the Dad lives in another state and the car is in another state, expect zero coverage if an accident happens from both MB and his insurance company.