Lease Deposit

Is there a way to waive the deposit on a lease. I financed a Land Rover through BMW fin. in June 1999 and our payments ended in June 2002, is this recent enough. Thanks for you help.

Yea. Just tell them you're not putting any money down. That'll pretty much settle it right there, assuming they're serious about selling you the car.

Originally Posted by drallafi

Yea. Just tell them you're not putting any money down. That'll pretty much settle it right there, assuming they're serious about selling you the car.

I love comments like this.

Sure, you can "put nothing down"... they'll just roll it all into your payments. They won't make it disappear.

Originally Posted by Username18

Is there a way to waive the deposit on a lease. I financed a Land Rover through BMW fin. in June 1999 and our payments ended in June 2002, is this recent enough. Thanks for you help.

No... you need to be within 6 months of a BMWFS account.

And it need not be the purchase date, at least in my case. I did the lease application on my 545i when I ordered in November and I had bought out the lease on my M Coupe the June before. However I didn't take delivery (i.e. actually do the lease contract) until the end of January which means I technically didn't have a lease with BMWFS for more than 6 months. I heard that some eyebrows did get raised but the deal was done. Maybe there's a wee bit of room to fudge, but 2002, you're out of luck.

Originally Posted by SARAFIL

No... you need to be within 6 months of a BMWFS account.

Originally Posted by 5 Rakete

And it need not be the purchase date, at least in my case. I did the lease application on my 545i when I ordered in November and I had bought out the lease on my M Coupe the June before. However I didn't take delivery (i.e. actually do the lease contract) until the end of January which means I technically didn't have a lease with BMWFS for more than 6 months. I heard that some eyebrows did get raised but the deal was done. Maybe there's a wee bit of room to fudge, but 2002, you're out of luck.

Exactly.... if it's 7 or 8 months, you can get an exception. If it's 3 years, you're out of luck. That's 3 years that you could have been with another leasing company, and it defeats the purpose of BMWFS giving you a "loyalty" benefit.

Thanks for all the help. The reason I'm asking is because i have been working to get a deal done w/ my car and when the dealer and i finally came up with something he did not fill anything in under the deposit box. I asked him several times "now is there going to be any other charges on top of this or is this the exact amount" i was not refering to the deposit at the time i was just asking and he assured me that there would be no more. well a day or so later i was looking and noticed he did not put any deposit in and i called him to question this(prob not a good idea) and he said that i need to round my monthly payment up to the next $50(ex $319 a month would = $350 deposit). I just wanted to see if there would be a way of getting rid of this charge without having to negotiate more on price.

Originally Posted by Username18

Thanks for all the help. The reason I'm asking is because i have been working to get a deal done w/ my car and when the dealer and i finally came up with something he did not fill anything in under the deposit box. I asked him several times "now is there going to be any other charges on top of this or is this the exact amount" i was not refering to the deposit at the time i was just asking and he assured me that there would be no more. well a day or so later i was looking and noticed he did not put any deposit in and i called him to question this(prob not a good idea) and he said that i need to round my monthly payment up to the next $50(ex $319 a month would = $350 deposit). I just wanted to see if there would be a way of getting rid of this charge without having to negotiate more on price.

They will waive your security deposit for an increase of .00015 in the money factor...

It is usually a better deal to just make the deposit..

regards,
kyfdx