I see posters here saying never to put money down on a lease, yet all of the brokers I see with very good deals say for example “$2000 Due at signing”
My question is, is this “DAS” a downpayment? this part is confusing me.
Thanks for your help
Here is a helpful article.
I don’t subscribe to the “never” philosophy on paying money at signing. Like most things, there’s nuance.
A “down payment” on a lease is just paying for part of the car up front. Don’t do that. Pay for the car with the lease payments. The thought is that you lose that money if you wreck the car immediately.
“Due at signing” is your drive-off amount and can include first month’s payment, taxes, licensing, fees, AND a down payment. You can roll all those items into the lease payment for a $0 DAS or, more typically, just pay the first month’s lease payment at delivery. However, when you do that you are now paying interest on those amounts. But if the money factor is low enough that’s what I would do. And if the money factor is high, I simply wouldn’t be choosing that vehicle.
Generally, my approach is first month’s payment due at signing.
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