My 2023 BMW X4M got stolen recently - I’m still in shock and processing how to move forward.
I have a few questions and would appreciate some feedback.
The car was leased, I only had the car for 5 months (out of a 36 month lease). I put a significant down payment down to lower my monthly costs. Since the car was stolen, would I be able to get the remainder down payment refunded? (Or at least a partial amount).
If my insurance settles the car with BMW and I owe nothing, I’m still down X amount of $$$ from the down payment. That means I either get that down payment money back and put it towards another lease OR I have to take more money out of my account for another down payment on a new car?
Does anyone have any experience or knowledge on this topic? Appreciate all the help…
This is generally true, except for security deposits. Last I checked, it’s up to 8 payments and lowers the money factor. So if you have a $1000 payment, you put $8k in as 8 payments. You get it back at the end of the lease. (It actually lowers those payments too. So you end up paying 8 x $950 or whatever it works out to.)