Yes it is like a CD, so you need to figure out the rate of return and if you can do better elsewhere then go for.
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I will say… it is strange not to see official documentation regarding MSDs when it’s obvious that banks offer the service. It has to be written down some where…
I couldn’t believe that both Audi Financial AND Audi of America had no idea what I was talking about!
You mean the representative had no clue, most representatives are pretty clueless about their products. Usually Google for 10 min can result in more knowledge.
It has to be in a lease contract…
I did a one pay lease with Audi and the terms of the one pay are there. I think there’s a box that lists “refundable security deposits”.
A security deposit is just that- money the bank holds in case their car is returned damaged or not at all (and no insurance indemnity).
I did google. All I got back were LeaseHackr and Edmunds threads. Nothing official.
Admit it, while most of us are fine with MSDs, the average person prob won’t be comfortable locking up thousands of dollars without being able to see more official details. We take it for granted.
That’s my point… it would be nice to see before actually sitting down to sign
Ask them to show you a blank contract.
Or read it before it’s signed.
Filled it in for you.
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This is fantastic. Wish I could “super love” it. Where is this info available?
Also, doesn’t Audi max out at .00045 (ie 9 MSDs)?
Good find.
Also, a google search just revealed that all lease contracts adhere to a federal standard.
They do not show the money factor (but do show total interest paid), however, “refundable security deposit” is listed.
Bottom line, there’s nothing to worry about as long as the security deposit amount is shown in the corresponding box on the contract.
Correct regarding Audi. You don’t get credit for the first msd.
Can anyone confirm that MSD is something dealers have to offer, and that there’s a way to force it?
I’ve had no luck so far in the DC area–dealers (the finance dept, not the sales people) have said that they know what that is, but they just don’t do it anymore. Maybe it depends on supply and demand at a given time, and right now they feel like they can move the max number of units anyway without offering such a feature.
yes it’s a line item on the lease contract. The only fine print I can find for Audi is on the back of the contract 25(d)
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Dealers do not have to allow you to apply MSDs.
There’s no way to force it… you will need to broaden your net of dealers, such as those in the Philly/SNJ area
Which Audi are you trying to lease? I’m in talk with a dealer about a Q7 in NJ who’s fine doing MSDs.
A4. However, I’m not willing to travel that far just for MSDs (not knocking those who do, I just have personal reasons)
Can you add details for Jag/LR?
It’s there (ie Chase doesn’t do MSDs).