Quote:
Originally Posted by RowanBuds
Not a problem, glad to lend a hand.
Yes, you're correct on the $ down on a lease. The MSD's do not fall into that same scenario upon a total loss before term maturity - and the same should apply for the tax payment (state specific, of course).
Meaning, if you elect to pay the tax up front, let's call it $3,600 on a 36 month term for simplicity - and the car is then deemed a total loss at month 4, whether accident/stolen/etc., - you are entitled to a refund of the balance, in this case 32 months, or $3,200. Yes, you may have to jump through hoops with the dealership, your insurance company, the state - but you're entitled to get it back. There's not much downside, IMO.
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I thought you can only transfer MSD's from your current lease