Lease advice - budget roomy SUV

Ask the Hackrs
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61

Just asked, will update once I get the number

62

OK - here is the updates:

  1. GAP insurance - you were spot on $538
  2. Managed to negotiate a better deal (not the best, but good enough with today’s market):
    Mazda CX9, GT, 490/m (post tax) + 2599 down (MF 0.00001)

Thanks for all your help

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63

When I was getting insurance quotes for my XC60, I didn’t know if VFS included it or not: Travelers offered it for an additional $22/yr

At that MF why not roll everything in and keep your up-fronts?

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64

That’s a good point. Haven’t thought about it. Will check that option

65

Others also offer gap insurance but only if you get the auto insurance from them. They don’t sell stand alone GAP

66

So get your insurance policy thru them.

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67

Need to check the total cost - With Geico I get a huge discount from both work and for multiple policies. Need to check the offer and decide.

Thanks

68

Any idea why a company like MAZDA/TOYOTA Financial wouldn’t have GAP included where most every other manufacturer has it? Cheaper?

69

I could speculate, but no way of really knowing their motivation.

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70

…

No but I’ll hazard a guess:

Besides being a Top-3 US auto company, where a GAP liability waiver potentially incentizes/subsidizes moral hazard by your customers?

First-party finance products they can sell you instead:

https://www.lexusfinancial.com/us/en/vehicle_protection_plan/guaranteed_auto_protection.html

Toyota could make their standard warranty 10y/100k , instead they sell Toyota Care (if you can convince the dealer to sell it, instead of more lucrative third-party warranties).

71

Probably same reason why BMW & MB etc CPO went from standard 6yr coverage to 5yr but dealer can sell you OEM extensions for additional 1-2 years at a nice markup

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72

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