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Message
re: Leasing a vehicle
Posted on 8/19/15 at 11:39 am to LSUtigerME
Posted on 8/19/15 at 11:39 am to LSUtigerME
BMW has a Multiple Security Deposit program. For each security deposit (one monthly payment), it will lower the money factor by a certain amount. I think you can do up to 7.
I did this on my last lease and it saved me something like 1500 dollars over the life of the lease. You get the security deposits back at the end of lease.
It sucks tying up that money, but getting a risk free 11-12% return per year is great in my book.
I did this on my last lease and it saved me something like 1500 dollars over the life of the lease. You get the security deposits back at the end of lease.
It sucks tying up that money, but getting a risk free 11-12% return per year is great in my book.
2
Posted on 8/19/15 at 6:29 pm to gpburdell
First off, appreciate the kind words.
Im not too familiar with being able to negotiate money factors. Honda's is set in tiers of Credit Scores. But, other manufactures may do otherwise.
Leasing is great if you meet all the criteria. As the other poster said...leasing to own is not always a great idea. My guess is interest rates will rise in the next few years, so take advantage of the 0.9s and 1.9s while you can.
Good Luck with your purchase.
Im not too familiar with being able to negotiate money factors. Honda's is set in tiers of Credit Scores. But, other manufactures may do otherwise.
Leasing is great if you meet all the criteria. As the other poster said...leasing to own is not always a great idea. My guess is interest rates will rise in the next few years, so take advantage of the 0.9s and 1.9s while you can.
Good Luck with your purchase.
Posted on 8/20/15 at 6:52 am to gpburdell
quote:
BMW has a Multiple Security Deposit program. For each security deposit (one monthly payment), it will lower the money factor by a certain amount. I think you can do up to 7.
I almost included this is in my brief summary but didn't want to muddy the water. I've never done it personally, and I'm not sure how that affects it if you were to total the car. But yes, it can also be a good option.
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