[angel486]

Originally Posted by WoodlandsM8

Montegi Red 😂

Originally Posted by WoodlandsM8

Montegi Red 😂

beautiful beast! !

[Amgeater2]

Originally Posted by WoodlandsM8

Montegi Red 😂

Same car I just got, did you lease or purchase ? 157K MSRP

[WoodlandsM8]

Originally Posted by Amgeater2

Same car I just got, did you lease or purchase ? 157K MSRP

Leased it.. I've lost enough on buying cars outright and trading 2 years later 😂.

[Shubegh]

Hey Guys,

Just picked up a 2020 M8C Coupe few months back

i wanna see what you guys think of the price

158,695 msrp

i paid 5k down ( first month payment included)
1694 monthly ( taxes included) for 36 months lease @ 10k miles/year

[WoodlandsM8]

Originally Posted by Shubegh

Hey Guys,

Just picked up a 2020 M8C Coupe few months back

i wanna see what you guys think of the price

158,695 msrp

i paid 5k down ( first month payment included)
1694 monthly ( taxes included) for 36 months lease @ 10k miles/year

What was the selling price of the car?

[Al Pinã]

Originally Posted by Shubegh

Hey Guys,

Just picked up a 2020 M8C Coupe few months back

i wanna see what you guys think of the price

158,695 msrp

i paid 5k down ( first month payment included)
1694 monthly ( taxes included) for 36 months lease @ 10k miles/year

Never put money down on a leased vehicle. If the car is crashed/totaled that money is gone forever.

[Amgeater2]

Originally Posted by WoodlandsM8

Leased it.. I've lost enough on buying cars outright and trading 2 years later 😂.

you got 25-26% off the car, what was your terms, payment, and out of pocket ?

[Amgeater2]

Originally Posted by ALPINA_DREAMS

Never put money down on a leased vehicle. If the car is crashed/totaled that money is gone forever.

He really put towards the cap cost around 1400-1600 dollars... you know that

I understand the whole dont put crazy money down but.. never put any money down its just

[Al Pinã]

Originally Posted by Amgeater2

He really put towards the cap cost around 1400-1600 dollars... you know that

I understand the whole dont put crazy money down but.. never put any money down its just

Cute emojis. You're still wrong though.

A person would be better off putting that money in a bank account and using it to pay the lease payments. If anything happens to the car you get to keep the money instead of losing it all.

Don't take my word for it though. Just ask someone who had their leased car totaled in an accident if they got any of the money they put down back.

[Amgeater2]

Originally Posted by ALPINA_DREAMS

Cute emojis. You're still wrong though.

A person would be better off putting that money in a bank account and using it to pay the lease payments. If anything happens to the car you get to keep the money instead of losing it all.

Don't take my word for it though. Just ask someone who had their leased car totaled in an accident if they got any of the money they put down back.

what are you going to put into the bank account 1400-1600 and then send it towards to the monthly payment. if you total the car which is your whole point here and they dont pay you to get a new car you have a sucky agent and carrier and please dont go on into the insurance subject as I run a retail/commercial insurance agency so I know what I am talking about there..

[Wolfman64]

Originally Posted by Amgeater2

what are you going to put into the bank account 1400-1600 and then send it towards to the monthly payment. if you total the car which is your whole point here and they dont pay you to get a new car you have a sucky agent and carrier and please dont go on into the insurance subject as I run a retail/commercial insurance agency so I know what I am talking about there..

Don't think so.

I made the mistake many years ago and put $5k down on a Mercedes SL lease and the car was totaled a couple months later via flood damage (engine hydro-locked).

Not a lot of money but that was gone. This has absolutely zero to do with the insurance agent. The value of the car is assessed by the insurance and paid to MBFS as they were the owner of the vehicle.

So if the money was short, gap insurance kicks in. In the rare event that title holder receives more money than the open obligation they could choose to return the extra funds to the lease holder. One can assume this is an unlikely event.

I was really annoyed that the pre-paid maintenance plan was not transferrable at the time and that was also lost. This has changed in later years....

[Shubegh]

im not sure on the selling price i just know the payment and all off the top of my head.

the 5K down was first months payment so technically i only have about 3300 dollars invested as my "down" payment. thats just what i assume idk the exact terms and language for all this lol. i sold a old e46 for 5k and just put it into here. im not too worried about that but thanks for future advice!!

[Amgeater2]

Originally Posted by Wolfman64

Don't think so.

I made the mistake many years ago and put $5k down on a Mercedes SL lease and the car was totaled a couple months later via flood damage (engine hydro-locked).

Not a lot of money but that was gone. This has absolutely zero to do with the insurance agent. The value of the car is assessed by the insurance and paid to MBFS as they were the owner of the vehicle.

So if the money was short, gap insurance kicks in. In the rare event that title holder receives more money than the open obligation they could choose to return the extra funds to the lease holder. One can assume this is an unlikely event.


I was really annoyed that the pre-paid maintenance plan was not transferrable at the time and that was also lost. This has changed in later years....

You my friend had a bad insurance policy and agent. I find it amusing how you are telling me I am wrong but I am the one who owns an agency and practices insurance for a living..

[limeypride]

Originally Posted by Amgeater2

You my friend had a bad insurance policy and agent. I find it amusing how you are telling me I am wrong but I am the one who owns an agency and practices insurance for a living..

Can you walk us through the hypothetical best-case scenario, please:

1. person leases an F90 M5
2. naively puts $10K down to lower their monthly payments
3. car is written off say 6 months later (no-fault state/policy)
4. person has your best insurance incl. new car replacement or equiv.

... what happens here once the car is 'written off' in terms of policy payout, etc.?

[Amgeater2]

Originally Posted by limeypride

Can you walk us through the hypothetical best-case scenario, please:

1. person leases an F90 M5
2. naively puts $10K down to lower their monthly payments
3. car is written off say 6 months later (no-fault state/policy)
4. person has your best insurance incl. new car replacement or equiv.

... what happens here once the car is 'written off' in terms of policy payout, etc.?

Ofcourse, the main problem with your typical in house off the shelf policy is that they are written to protect the lease company and the not the insured it self. most are either written as you mention to write of the balance or what we will like to call ACV (actual cash value).

Most insurance agencies are service by glorify telemarketers and they are not trained properly to make sure that the client has certain endorsements in place like RCV or an Agreed Value form. Infact if you are on RCV and the vehicle has gone up in value or its not avalible (example G Wagon) they will have to settle with the insured on a higher amount even if your vehicle is total your fault or not. Companies like Hagerty and Liberty Mutual have these form(s)/endorsement(s) as standard part of the policies but other carriers will take avantage of the insured.

[limeypride]

Originally Posted by Amgeater2

Ofcourse, the main problem with your typical in house off the shelf policy is that they are written to protect the lease company and the not the insured it self. most are either written as you mention to write of the balance or what we will like to call ACV (actual cash value).

Most insurance agencies are service by glorify telemarketers and they are not trained properly to make sure that the client has certain endorsements in place like RCV or an Agreed Value form. Infact if you are on RCV and the vehicle has gone up in value or its not avalible (example G Wagon) they will have to settle with the insured on a higher amount even if your vehicle is total your fault or not. Companies like Hagerty and Liberty Mutual have these form(s)/endorsement(s) as standard part of the policies but other carriers will take avantage of the insured.

Thanks.

But to my perhaps uninformed eye, you didn't answer my question. What amount does the lessee get back?

[Amgeater2]

Originally Posted by limeypride

Thanks.

But to my perhaps uninformed eye, you didn't answer my question. What amount does the lessee get back?

Ok so this is how it works on your lease contract it will show as below

Gross Capitalized Cost (the price of the car after negotiation)
Capitalized Cost Reduction (your 10K are part of it)

you need to make sure of 2 things that your policy is either insuring at Gross Capitalized Cost or you have a policy form that will Replace your car at the MSRP.. Some policies even have inflation guard that will allow you to go up 10% of the current value of the car or a year newer which in any case your 10k are safe and sound.

[limeypride]

Originally Posted by unfoundnemo

If you're on RCV, then it would be RCV-Lease Buyout-Deductible; otherwise, likely ACV-Lease buyout-Deductible, which is likely still a negative number after only 6 months, so you're talking about gap insurance paying the difference, and you being out $10k + your deductible.

It seems that you and AMGeater disagree.

[limeypride]

Originally Posted by limeypride

It seems that you and AMGeater disagree.

Captain, where'd your post go?

[unfoundnemo]

Originally Posted by Amgeater2

Ok so this is how it works on your lease contract it will show as below

Gross Capitalized Cost (the price of the car after negotiation)
Capitalized Cost Reduction (your 10K are part of it)

you need to make sure of 2 things that your policy is either insuring at Gross Capitalized Cost or you have a policy form that will Replace your car at the MSRP.. Some policies even have inflation guard that will allow you to go up 10% of the current value of the car or a year newer which in any case your 10k are safe and sound.

If your policy doesn't cover this, then you're talking about ACV - Lease Buyout - Deductible, which after only 6 months is still likely a negative, even with $10k down.

[unfoundnemo]

Originally Posted by limeypride

It seems that you and AMGeater disagree.

We're in-line, he gave more info on the Gross Capitalized Cost which could apparently be written into the policy vs the RCV. If you don't have either, though, you're losing out.

[unfoundnemo]

Originally Posted by limeypride

Captain, where'd your post go?

Figured I could add to his regarding what happens if you don't have those protections before anyone read through. You're quick.