MSD - What if the car is stolen or totaled?

[Mlasky]

Hi,

I live in NY, if I put down MSD to lease a car what happens to those payments in the event the car is stolen or totaled?

I know that if I pay tax up front I lose that but not sure what happens with MSD?

Thanks!

[Jon]

Search the forums. This has been answered many times already.

[bfourey]

Remember when the leasehackr forums were friendly and helpful? Pepperidge farms remembers.

[Mlasky]

Thanks, Jon, seems like no one clear cut answer…depends on the financing company.

[305Hackr]

we just discussed it again in a thread titled “risks using MSD”, you can easily use the search box to find it

[Eneka]

Since no one wants to asnwer OPs question and neither is the other thread helpful, I can tell you that at least for BMW, when insurance pays off the lease, then your MSDs is returned.

[vhooloo]

vhooloo sez
MSDs are refunded when the lease is fulfilled, including via an insurance payout.
MSDs are passed on to the new lessor if lease is transferred.
Drive safe!

[mani_is_kool]

I swapaleased an IS paid 800 bucks to get 2400 in msd transferred

[vhooloo]

Mani is evil 20202020

[mani_is_kool]

Lol for deals yeas i am hahah

[cheapdad00]

Isn’t the real answer that NY doesn’t allow MSDs?

[305Hackr]

That’s correct NY doesn’t allow MSDs

[Jon]

Depending on the captive, a NY resident can buy from an out-of-state dealer and use MSDs.

[dukez]

2018 Infiniti Q50 deal?

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MSDs.
Many carmakers allow REFUNDABLE MSD (multiple security deposits) to lower your MF aka interest. MSDs are simply monthly payments paid up at the beginning of the lease and refunded at the end of the lease. No questions asked even if the car is totaled (assuming insurance pays off the rest of the lease).

[ryanchuck]

Did you have a lease end protection?