Those that provide a calc link, can continue business as usual, since it’s very easy to adjust it on the calc.
The first month due at signing approach is more for those without a calc link because it’s so vague on true cost.
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No, sir, it’s just math.
Your DAS reduces your lease payment.
Every
single
lease payment
beginning with the first payment, which is collected at signing.
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I’m not even sure what point you’re trying to make. Like someone said all that matters is net monthly cost. You’re risking $3-5k so you can save 3% on a promotional interest rate. I guess? Honestly I only put 3k down since most of the brokers say 3k down and I don’t want to do extra math at a glance. Which is even stupider than your reason I admit. That laziness cost me (30/36)3k. So like I said never again.
The point was that this isn’t true.
I don’t know how else to say it.
I mean are you just nitpicking that I said ALL and not 3000/36x30. Sorry I didnt realize who I was talking to
I’ve found if I write a large enough check, my payment is $0. It’s magic!
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Mr Tim_N, sir, if you’ll scroll up, your first post in this thread was a reply to me which contradicted something I posted. I was simply hoping to correct a misimpression, which btw is a very common one.
Respectfully, I’ll leave the last word on this to you, as my intent has never been to argue.
@Tim_N (3000/36)30 isn’t quite the $$ lost due to finance charges (unless the MF equated to 0% APR). In which case you are 100% correct, and should have done $0 DAS.
It raises a good argument for a $0 DAS no matter how high the MF. Very unique situation in totaling a car just 4 months in! But what are the chances? Out of 100 leases how many are totaled 4 months in? I would imagine you would have the opposite opinion if the car was totaled 4 months from maturity
It’s murkier than that. California has insane registration ~$700 per year+ depending on the car, but dealer fees are capped at $85. If you add in first month’s and acquisition you are somewhere in the $2500-3500 range. Some states charge sales tax on the full selling price (TX). Some cities add a tax on leases that aren’t true for the state (Chicago). Some states have low registration and no tax. There is no way to standardize this across the whole country unless you advertise first month’s payment + acquisition as the DAS before registration and taxes.
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@Muwa thanks for steering the ship back on topic!
Chances may be low but never 0. My first lease that was my first shipped car got almost totaled being shipped to me… My personal feeling is that you do 0 DAS or go full 1 pay.
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A lot of people can afford a car with $350 a month and $3500 down, not much people can afford a car for $0 down and $500 a month, its same thing I know, but a $400+ payment is high
No it doesn’t… at least not as a blanket, no matter what, sort of thing.
Let’s quantify this differently. How much money are you willing to pay to self-insure your due at signing amount against a total loss and large depreciation? $100? $1000?
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