Bringing something refreshing, too many jeep/ram leases lol. Signed this week. Car was a custom order and took 11 weeks from order to delivery. Original lease payment at the time of order was $342/mo but lost 1% RV (GM programs cannot be locked) and lost Costco rebate, monthly payment went up. Not too bad of a deal imo for this market.
For some reason, dealer came back with $12800 one-pay and at the point I didn’t argue. Honestly who knows with me how long the car stays, find a better deal down the road and this might be gone.
Update - Well thanks to @TheBigTuna for activating my LH itch, quick text to the dealer and found the correct number on one-pay, resigning the deal to take in one-pay savings
A friend has always done One Pay with Mercedes which saves him some money. Something I do not understand with One Pay. What happens if the car is totaled or stolen at 18 months, do you get the remaining 18 months back and from whom? Your insurance company or the leasing company? Does it vary by state, manufacturer and insurance company? His lease is up in September and will be leasing again so I asked him, and he had no idea, and called his insurance company to ask and they did not give him a straight answer, said to ask the leasing company. Also, if you want to get out of the lease 3 or 4 months early (assuming you are not someone who is a big Hackr and simply want one car to drive), do you get the unused payments back?
Basically if you buy the car out, it will be residual value minus unused rent charges. Depending on the leasing company, if totaled, you get back a prorated amount based on months left. You might get a prorated amount of rebates/incentives too, and maybe an equity check but highly dependent on what leasing company we’re talking about.
This would MB financing. They are not planning to buy their current car, they may end up turning it in a few months early to get into a new MB (almost identical car). Their current lease is at about $775 if you break down the One Pay so 4 months early is a few $$ that they are not using. One dealer offered the 5K as a cap cost reduction or equity as compensation, even though when I did an estimate on Carmax or one of those (I forget, just wanted a ballpark), they would be about $1K underwater if they bought the car so no real major equity but who turns down free money! They have very low mileage and the car has been garaged
Do you have gm supplier and lease loyalty and are willing to wait 3 months? No guarantee the lease program will be the same when vehicle arrives though, its all luck.
. Still good tho
