has anyone leased their z?

Parrotguy · 03-03-2010, 01:43 PM

Put a lot down on a lease and you will lose the entire amount if you total the car. The insurance co. is only covering the remaining lease payments. If you total the car, the insurance co sends the owner/lessee a check. You walk away with no car and no money. Financial advisers say put the minimum down on a lease as noted above. Set aside your down payment money to make up the higher lease payments each month

Zaggeron · 03-03-2010, 06:10 PM

Quote:

Originally Posted by Parrotguy

Put a lot down on a lease and you will lose the entire amount if you total the car. The insurance co. is only covering the remaining lease payments. If you total the car, the insurance co sends the owner/lessee a check. You walk away with no car and no money. Financial advisers say put the minimum down on a lease as noted above. Set aside your down payment money to make up the higher lease payments each month

I did not know that. I assumed you would be insured for the replacement value of the vehicle. Is it the same with buying the car? Do they only pay the balance of the loan payments to the loss payee?

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03-03-2010, 01:43 PM	#1 (permalink)
Parrotguy Base Member Join Date: Oct 2009 Location: San Diego Posts: 51 Drives: '10 Roadster Touring Rep Power: 17	Put a lot down on a lease and you will lose the entire amount if you total the car. The insurance co. is only covering the remaining lease payments. If you total the car, the insurance co sends the owner/lessee a check. You walk away with no car and no money. Financial advisers say put the minimum down on a lease as noted above. Set aside your down payment money to make up the higher lease payments each month