Hi, I am closing on a Lexus NX Turbo tomorrow and have a question on MSDs.
With 5 MSDs, my expected “return” on a $1750 deposit would be $900 over 36 months. Seems like a no brainer, but… I recently had a lease through Ally and they nickel-dimed" me on all kinds wear and tear nits. In that case, I did not have any deposit. I ended up negotiating and reducing their alleged claim by 75%.
I am concerned that, with MSDs, the Lessor could do the same thing and not return my money. It’s hard to negotiate when they already have your money! Is this a legitimate concern? Any advice or stories out there?
What were you nickel and dimmed on? I had no issue with an Ally lease return.
@tdkcfo1
I don’t think Lexus FS is going to try to keep your MSDs by finding out and calling the lease return guy who is inspecting your car and telling him to “find” damage so that they can keep your MSDs.
I just did a lease return with Lexus not too long ago and had no issues other than they kept trying to charge me for the spare key even though I turned it in with both keys. I was smart enough to have them write on the paper and sign that i returned with both keys but i had to send it in and they didn’t receive it and back and forth until it was settled. They actually just deducted it from my deposit and then had to issue me a second check so i do get your concern but i think whether or not you have a deposit with them is not a factor. They will try and charge you for excess damage regardless but there are guidelines so as long as you fall within those guidelines you should be ok.
BMW is super lenient with damage by the way, one of the reasons why i stick with BMW now.
If you are really concerned you can always get wear and tear protection. Not sure how much it is, depends on the car, but if for example you street park everyday in a city where it also snows in the winter etc I would get it if it’s not too expensive because it’s highly likely you will end up with damage. If you are careful and garage park and live in a sunny climate then it’s less likely that you would need it.
By the way, if it’s not a captive lender but a third party such as US bank then i would be much more concerned. They’re notorious for excess charges at lease end.
Thanks for the feedback. Appreciate it!
