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- Vehicle(s) I currently own
- 2006 BMW 330Ci Coupe
A single pay lease is structured just like a regular lease, but with a lower money factor (in exchange for all of the payments being made upfront). If the lease ends early because of a total loss, it is assumed the payments were being made as a normal lease, and the single pay amount is pro-rated and the remaining "payments" are returned to the lessee.
It's easy on a BMW.. just click all the boxes.
Personally, I think a 228 for about $40K is not that bad of a deal. It's the same engine you'll find in a $58K 5-series. A loaded GTI is $35K.
I think the Jetta would be an upgrade from an Elantra.
And, on another repair note. Went to pickup the wife's X3 on Saturday. That belt coming off the faulty pulley really did a number on quite a few other things. Guessing if you had to pay for it, it would have been around $1000 (belts, hoses, other pulleys).
Of course, when I discussed it with the SA on Friday, he said there would be no charge (well, duh). And, he put me in for a full detail on our next visit. Nice gesture, but it's an overpriced $250 wash/wax/interior job. So, at pickup time (SA was off on Saturday), I played dumb and said I thought the original faulty repair job was being credited. The service manager on duty came out, and looked over the original repair bill, and the extensive re-work needed. Said he would get with my SA, and verify what we discussed, taking into account my current whining (my characterization) about my wife getting stranded, serious damage to engine compartment, yada, yada, yada.. I offered that I would be happy with a credit against future repair/maintenance visits, as I was a loyal customer and definitely coming back. (which is true, mostly).
So, the service manager called back this morning, said I could keep the detail and a $240 credit, or they would skip the detail and give me a $491 credit against future service/repair costs ($466 repair/$25 tow).
Naturally, I took the $491 credit. I worked really hard at being civil and friendly, and it paid off. Win/Win.
Interesting look at how the VW diesel mess affected a 2013 Passat TDI owner as they updated their review of the vehicleYou can still drive it 1000 miles a month, with no drop in buyback price.. They likely haven't performed the correct calculations.
Update 2 - We had to stop driving the car about two months ago. Not because of anything wrong with it (it still runs perfectly), but because of the diesel settlement structure. We will be selling the car back to VW. It has a little shy of 59,000 miles on the clock, which is just below the threshold for a mileage deduction of the buyback price. While we won't recoup our full purchase price, we will be getting back a heck of a lot more than we could ever think of getting by selling it on the open market. it's too bad because it's a really good car despite some of its aggravating shortcomings (e.g. the lousy infotainment system).