Yes, through BMW financial. FWIW, leasing that car may have saved my life considering she hit me hard enough to spin me into oncoming traffic and deploy the airbags and I was able to walk away with only a seatbelt cut and soft tissue sprain. Ironic considering it’s now on a safety recall!
Driving to my chiro appointment today in my spankin’ new 330i wasn’t so bad, I must say.
I realize I live in LA, city of maniacs, but I saw SO MANY near-miss accidents on my drive home today. Heed my warning, people.
Spot on, old adage in the car business is down payment equals gross(profit), you get a couple g’s down it shows a lower payment while the dealer still makes a healthy profit, of course this trick doesn’t work on us
The dealer doesn’t get extra for collecting a larger down payment. It just makes the monthly look smaller making it easier to close the deal.
I haven’t had any issues with doing 1k or less DAS on all the leases we sign.
It all depends where you live. I’ve had no less than 5 cars totaled (Only one was at fault) within first year of taking ownership/possession. The other possibility however you’re not exploring is lemon or theft.
Very true, Most people are amazed at how much 1% reduced interest saves on a home loan! But the OP has a valid point.
Taxes on taxes? Oh you mean like sales tax when buying items with your income which has already been hacked to bits by .gov.
First month DAS shouldn’t break one’s back, so i agree here partially. State fees, okay. Upfront tax (TX, VA, GA, etc) i’d roll in though to minimize the risk of loss in the case of total, lemon, or theft.
An additional bit to lower monthly in exchange for CCR. Psychologically it makes it easier to sell added product such as maintenance, excess wear and tear, tire and wheel, and shudder extended warranties (which on a lease generally makes NO sense, but i’ve seen it pushed…)
And yet most of the ads on here/signed deals shared include a couple thou DAS… it’s a strange psychology! I spend more than $30 just on coffee every week yet it feels like a grand chasm in a payment deal to add another grand, I know.
I would say nearly every single person I know has had a car totaled at some point in their lives. It doesn’t take an extreme, rare accident to total a car, people. Totaling a car brings up pictures of ambulances and crumbled cars when just a good pop in the right place can do it. Especially since a lot of LH cars are luxury cars with a lot of pricey parts- insurance is more than happy to take one look, write it off, undervalue it then salvage it out.
At least I didn’t buy the extra wear and tear package…or get the scratch on the side the car had acquired from the previous week fixed!
If broker isn’t charging an upfront fee, any CCR off those DAS may effectively be their commission or partially. Not saying it’s wrong, but it’s certainly possible.
I too, spend an inordinate amount of money on coffee per week/month. It’s bad… And very true about it not taking much total out a car nowadays. My Cadillac ELR didn’t total out because cost of repair, it totaled out because it had parts back ordered initially for 45-60 days but as that delay continued on (last quote was 6-9 months), my insurance grew weary of keeping me in $50/day rental (they cover past 30d when you use preferred shops)
Since this topic is at hand, How do you fine folks feel about one-pay leases? If my dealer had tax credits to give, a one-pay on my unicorn X2 would have been effectively been $120/mo but can this potentially put you at risk of loss vs CCR?
IMO it’s up to the consumer to make an informed decision, like anything else in life. It’s been said here over and over that up front costs are lost if a lease is totaled. Certainly not my call on what forum members think is fair, nor to interfere with how people here run their business.
I also don’t think a dealer/broker consistently offering good deals comparing to the average salesfloor guy isn’t entitled to structure a deal that profits them. They’re offering a service by setting up deals in advance and free to be compensated for it as they wish!
Not too hard to run a deal through the LH calculator and see how the numbers add up. If you can’t replicate the deal reasonably on your own with the calculator with base numbers, someone’s shoved some extra money in there somewhere.
I have no reason to believe a one pay lease is safe from this very scary exposure from an insurance perspective since they only care about the car’s value vs what you paid, I’d assume individual financial service companies are the ones who could control any kind of guaranteed insurance on a total loss or some sort of pro rata structure on the application of your payments.
I say this as someone who takes care of their salespeople (gift cards, food, drink post-sale) when they do a good turn for me, but i’d rather give the broker a reasonable fee for their aid than to the dealer who would otherwise have no qualms about hoovering my bank account clean. Like this fella.
Getting a full breakdown of the DAS doesn’t change anything. They can still bake in thousands into the deal. There is nothing special about the DAS, it is just taking money from one pile and putting it into another pile. You need to take the variable (msrp, sales price, mf, rv) and do the calculation yourself.
Just because the broker says your DAS is 1.2k which includes first month, dmv and tax doesn’t mean their $700 commission isn’t baked into the deal. What you want disclosed are the 4 input variables.
Yeah in VA, TX and MD math often supports rolling everything into monthly payment since you are only paying interest and not tax on that amount.
Is Texas the land of totaled cars? Guess it’s just dumb luck and related to the type of car you drive. Cars that are expensive to fix and depreciate quickly are going to be totalled more often.
