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.
There is some discussion on a Nissan One Pay that you lose all in case of a Total Loss.
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Ya, its only an issue in certain circumstances, but worth being aware of.
Really depends on the lender.
Since OP didn’t specify and that’s why I specified Nissan
Others, I have heard no problems.
Sorry - yeah it’ll be on an EQS with MBFS. 24 month lease. I’ll be in Georgia so Ad Valorem Taxes paid upfront.
I’m a blind forby
“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.”
Isn’t that One-Pay?
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I’m blind! Thanks
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.
They generally don’t, but you can try and give us that answer at the earliest convenience
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If you trust your Dad enough why not just give him the vehicle and add him to the insurance?
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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.
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Interesting discussion from a while back regarding onepays specifically in GA
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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.
I thought insurance covers your car regardless which states you’re in as long as in U.S?
Only if your child is a student.
They would need their own insurance in their name which could trigger the leasing company
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