PSA: Stop putting money upfront on a lease you can't afford to lose!

Off-Ramp
21

Yeah who wants to fight the battle, just roll ALL of it in

2 Likes
22

Ok so the brokers here are able to roll it all in, even if their spreadsheets say 2500 das etc. ? 1st time here, excuse the ignorance.

23

I did call my insurance Geico and they agreed that it wasn’t my fault. However they had no interest in fighting. They would only fight if I pay for the damage upfront (my deductible) and then they would fight to get back. I wasn’t interested in that.

24

Those are just examples, they setup the deals with fees upfront to make the payment lower, you can ask them to setup the deal whatever way you want.

3 Likes
25

I never pay acq fee upfront. I usually limit total drive off to about 1000 + MSDs

2 Likes
26

Every single dealer and broker can do a true zero DAS deal. Some may not want to do it for unclear reasons but it can be done.

5 Likes
27

Yup.

Also remember insurance only gives you a few days with a rental once they cut a check for a totaled car thus screwing you over even further because as we all know, it can often take quite a bit of time to get a good deal on a car.

And yet another shoutout to @legendsauto who essentially helped me recoup the lost thousands by getting me into a much nicer, more expensive car at nearly the same payment as the totaled one right down to the deadline on my rental.

2 Likes
28

Honestly these dash cam companies are here one day and gone another. Or a new model of the cam is released.
When I want a new cam I just pick a $30-50 one on Amazon that has a lot of positive reviews. I test it out and review the actual images the first week and either keep it or return it.

29

Looks like 0 DAS + MSD’s are the way to go. Actually, are MSD’s refundable if your car gets totaled?

30

Once your account with the finance branch is fully closed the MSDs are returned.

31

Thanks all! This PSA is very useful.

1 Like
32

If one person can learn from my misfortune, that’s something I can hang my hat on :wink:

and DASH. CAM.

1 Like
33

You must have GAP insurance. Mercedes MBFS include the GAP insurance. Do BMW leases include GAP insurance??

34

Yes, pretty much everyone does except Toyota

2 Likes
35

Mr James Bond - if there is no GAP insurance and the car is a total loss - I am advised the finance company will grab your deposit cash to make up the loss. :crazy_face:

36

joeblogs - so you’re telling us that BMW include GAP insurance in all their leases? and the customer does not need to have GAP added to their policy at collection?

37

I think most dealers push for a down payment or DAS. They want some cash up front than $0 sign and drive. Not positive, but I think dealers make more $ up front compared to if a leasee rolled everything into the payments which the lender makes.

38

Yeah, you been hiding under a rock?

1 Like
39

Was your X1 lease with BMW Finance? Glad you are OK and enjoying the new car!

40

Advertising a lower monthly payment helps them make sales. People associate down payments with purchasing a car so it’s not a big mental shock for them to write a check at a dealership and then they see a low monthly payment and go “WOW! I GOT A DEAL!” and sign.

I would imagine the structure of a deal is only a matter with the lender, don’t see how it affects a dealer but who knows.

3 Likes