We’re all told, “No money down!” when leasing.
But a One Pay is all money down. What happens if it’s totaled driving off the lot. Are you out your whole payment? Or is it amortized somehow?
Thanks!
Depends on the bank. Some do prorated return, some keep it all.
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Which ones keep the one-pay?
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With all respect and zero sarcasm, did you notice the 
icon in the top right?
(Fixed link)
Keep asking questions — if possible in the same thread (@jon will likely be along momentarily) — but also avail yourself of the SEARCH function to see if the question has already been answered.
Also keep in mind you’re getting into “it depends” territory so some more context will help. By which I mean: with a one pay lease you typically get a prorated refund, but if the totaled car has any equity above the payoff, who keeps the overage depends on the OEM/captive. This is overdue for an update but hopefully nuances my point:
If there is a hypothetical mystery car(s) or brand(s) you’ll get better answers as your questions get more specific
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Fair. I came here. Saw another “dumb question”. Searched google, but it didn’t lead me back here. So thought I’d ask generally.
As always, the answer is ‘it depends’ and ‘read your contract’
Many of those posts include the contract language.
This whole thread is a gem;
As a shareholder, you have my permission to skip Google and search here, there’s ~9 years of wisdom in the archives.
Keep asking questions, that’s how you learn. None of them have been dumb - no need to qualify or apologize - but the questions should get more specific as you get closer to leasing a specific car.
The contract was never posted so I’ll leave it to you and Max
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Please don’t say this unless you can provide some screenshot of a contract indicating this. Can you?
We’ve never seen or heard of this occurring, however I’m open to new things provided there is some basis for your conclusion.
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