Quote:
Originally Posted by MoreCowbell
OP here....
BMWFS always provides GAP insurance in their leases, that was my understanding.
As far as the thought that I had been "had" on the lease deal for that X5...just the opposite. It was a deal for 300 bucks over invoice + a 3000 incentive(applied as a cap-cost reduction) in December of 2008 when these cars weren't moving at all.
I was paying 808 with nothing out of pocket for a loaded 8 cylinder X5.
|
you're right, I think ALL leases provide GAP.
I don't think anyone was implying that you were stupid or did anything incorrectly, more trying to offset the people that were saying it was in error, or that the money didn't belong to you directly
.
Doing some quick math, if you got it loaded at roughly invoice, that means you got it at probably ~63k. If you got a 3k cap cost reduction, plus 800 a month for say 24 months....means you've put 'into' it a total of roughly 22.5k.
Used 2009s with lease miles seem to be selling for about 45k or. so 63k-22.5k= 40.5k. 45k-40.5k = 4.5k difference or 'equity'...ie what would be given to you.
These are all rough numbers, not including interest, and all the other fun stuff.... but just to give you an idea of where that 4k came from. You definitely made out in the deal either way though if you truly paid nothing down and didn't trade anything in.
No matter either way, in the end all ended well, and you were safe from the accident. All this other shit doesn't really matter