We’re talking about aftermarket tinted windows, not factory installed. When have you ever seen a line item, let alone a dollar amount on KBB or NADA for “aftermarket tinted windows” to add value to the car?
I get what you’re saying with regard to the heat. A 200 aftermarket tint job is not going to add 1500 in value to a car. At best, it would be a wash, especially after a couple years.
I think we’re arguing semantics here. If I was looking for a used Honda Civic Hatchback and the one at dealership A had tinted windows and the one at dealership B didn’t and everything else was the same I would choose the one at dealership A. To me that’s a value-add.
Eh, I agree with @mp11477, it doesn’t really add value to a car. Something you can go to a tint shop and slap on doesn’t really add value to a car.
If I’m looking at two cars in a lot, I’m looking at options, wheels, etc. Things that it came off the line with. And to be honest, there’s so many things about tint customization, I want control over type of tint, degree of tint, etc.
Seems the quote was dependent on >750 credit score… Mine being 700 bumped up the monthly to 255 but with 2000 down 240 a month and 2500 it would be 224 a month… Is this based on money factor? For 1000 more down I get a whopping 31$ off the monthly, equaling around 900 over the course of the lease. This is what I have calculated, does anything about this seem strange LeaseHackr Calculator
You need to figure out what that original $1500 “downpayment” consists of. It’s not all true downpayment as there’s a bunch of fees that make up for it (though I guess if you look at it compared to a sign and drive lease where you capitalize everything, then it is actually downpayment).
Look at it this way - if you paid 0% interest, every $360 of downpayment works out to $10/month less monthly payment - $360/36 months. Since you’re paying interest on the amount you’re borrowing from honda finance, you wind up putting something like $330 down per $10 decrease in monthly. In the extreme case, lets say you wanted to pay $100 as the monthly payment, you’d put a downpayment of $5k. The new $/month the dealer is quoting you is just a multiple of this.
Would you pay money up front to lower your monthly payment on an apartment?
Makes about as much sense as putting money down on a car lease.
That makes sense, The 35 doesnt seem like much of a noticeable difference month to month but that extra 1000 will affect me now. It is still tempting though
If your money factor is right (there are forums to find the latest numbers for specific cars), you’re effectively earning 5.76% return on that $1k for 3 years. But if you total the car, you won’t get your downpayment back.
Ideally you get a low interest rate close to free borrowed money, which is when you look to roll everything possible into the lease.
ah ok that makes sense. So it is partially a gamble that you won’t total the car. In my case I see it as partial insurance – like if I use 1k for a higher downpayment and use my tradein I have a much more manageable payment should I lose my job or have some health problem where I dont get paid for an extended period of time - since I have the money now to blow it has me leaning towards higher down payment with this mindset… Are you saying if you total the car, god forbid, after insurance and gap coverage you get your downpayment returned, I probably should have looked into this factor
If the car is totaled or stolen, there’s a very high likelihood that you will not get your down payment returned.
Just realized I completely misunderstood that, the downpayment is locked in and gone forever
Correct…most people on this forum highly advise against putting anything down as a down payment (also sometimes referred to as capitalized cost reduction). Your calculator link shows that $1500 would be capitalized cost reduction with your actual drive off fee being much higher. If your $1500 due at signing covers all of the registration fees, acquisition fee, and first month payment, that might be a slightly different story.
On my lease, I paid first month payment and registration upfront, but that was it. Granted, my money factor was significantly lower so it made way more sense to roll in any other costs (acquisition fee, etc.).
I have been told repeatedly and shown worksheets that it is 1500 drive off for 255 a mo, 2500 drive off for 224 a month, which comes out to 296/293 a month if you factor this into monthly payments… So I am conflicted as the smaller monthly payment just by throwing down 2500 at signing time (which I expected to pay for any lease at the beginning with my sub optimal credit) is ideal – “So I only need to bring x to the dealership for everything” is at the footer of all my emails
Got it, so your $1500 down includes about $710 in capitalized cost reduction. Regarding the lower monthly payment by putting more down upfront, that’ll be a personal decision.
For roughly $300/month, I honestly think you can get more bang for your buck than a Civic (Honda’s don’t lease well at all), but if you’re set on this car, I would keep shopping to see if you can get any other dealerships to beat your current dealer.
That’s 3 series loaner territory once you get in the $300’s
Idk if its just my area but 4 other dealers have told me that the deal was impossible because they all “pay the same for the car” and that this particular dealer was going to hustle me at signing time. I find it odd that 4 dealers had the same response, like they are trained to say it or something. IT doesn’t even seem like a spectacular deal, one did however say he could match it depending on my tradein value which I found deplorable since that shouldn’t factor into this particular deal - like 2500 plus my tradein at a new dealer for same monthly will somehow be better than 2500 + tradein for lower monthly at dealer 1
Yeah I was just calculating the 296/293 by dividing monthly payment by 36 and adding to monthly cost
How much is your trade in worth…? Putting down that plus a down payment is a ton of money upfront toward a lease
yeah it is, my car isnt worth much via tradein or private sale as it has transmission problems and a ton of body work to do so im leaning towards just putting it towards the 2500 driveoff dealer a offered just to take the weight off my shoulders
So I got a 300$ higher tradein value for my caliber at the dealership, and it brought my out the door to 1500 for 222 a month. I ended up getting the tire package because there are tons of potholes and shitty roads where I live - Gross cap cost: 21815 (value 19854) cap cost reduction: 2050.77 adjusted cap cost: 19764 residual: around 14k depreciation: 5.5k this is where I think I got screwed with the cap cost reduction and depreciation value… not sure maybe you guys would know better… base monthly payment: 213$ monthly sales tax: 14.92 total monthly: 228 ( with tire and service package, I prolly couldve done my own oil changes but am lazy) down payment: 1700 (1000 tradein for a car I thought would get me 500)… I realize this is a high downpayment with the tradein value but for me it was a no brainer as I wanted that thing gone… Thanks for all the help guys, my next lease will be a lot easier after experiencing the whole process. And man did the finance guy push 100x harder all the packages than the salesman