So I saw this and that’s when I started asking questions. I’m not sure yet about which car I want but am trying to narrow it down to this or something similar in this category with the best lease deal
And to add. I was wondering why the dealer fees were so high. 2 everything I read said no money down and this was asking for money down.
because they like money. Most deals can be done with Zero Due.
That was from a broker on marketplace. So I was wondering why they had money down
Brokers get their dealers from dealers. You just just ask the broker for Zero Due and the price changes…
Also putting $3000 Down makes the Monthly look lower so it looks like a better deal when it’s the same deal as the others.
Also please note, putting $3000 Down means you save on the interest on that same $3000. So if you are at 5% that’s $150 yr extra in interest. (Or $12?) (It’s a little hard to get the precise number due to lots of math)
So it has it’s benefits and drawbacks.
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Try starting here on how calculator is used
Thank you! I didn’t fill that out. It was a marketplace deal pre-filled out but duly noted on your advice
If it is ‘prefilled out’ then check the box that says [Capitalize All Payments] and it will make you a Zero Due Lease.
Do all the math before you step foot in the dealership. You go there to test drive (you are never buying that day) and to sign paperwork and take delivery on a deal you already negotiated.
Yes, in addition to spreading everything due over the lease term, the rent charge gets added to every payment. Bigger payment, bigger rent charge.
Please ask all the questions. We want to see you get an amazing deal next time.
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As @forbs, putting money down has its pros and cons. Some people here will say, “You should never put money down!” which is an unhelpful over-simplification. The issues are that (1.) if you put money down, you will most likely not recover that in the case of a total loss; and (2.) a lot of people don’t factor the down payment as part of the total lease cost and only focus on the monthly payment, which is a very inaccurate way of assessing a lease.
Regarding the first point, a total loss doesn’t happen that often. Also, back when bank were giving away $ (low interest rates), there wasn’t necessarily a great reason to put a lot of $ down. With interest rates being so high, there could be a compelling reason to put more $ down (do the math to figure out what works for you).
I see nothing wrong w/ the questions you are asking.
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If you’re here in NY, where is the dealership, Connecticut? NY caps doc fees at $175, and most NJ dealerships aren’t as high as $899, but I’ve seen everything from $400 - $800 there. I’ve seen $899 in Connecticut many times.
I think NJ maybe? I just saw the post on the marketplace.
Hi, curious, do you pick your car first and then start running numbers and then go to a dealer? I’m trying to figure out the best/easy way to do this? Thanks !
No. Only putting money toward capitalized cost reduction would reduce your payments. Unless, of course, you were rolling all of that into the lease which is possible, but not normally done.
How does making a bigger payment upfront, regardless of the distribution, not reduce your total cost of the least, based on what interest rates are running right now?
When you crash it. That’s pretty much the only scenario where upfront cash is lost.
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Did you miss the rest of my post? I said that other fees can be rolled into the lease, but that usually isn’t done. You can roll in almost anything, including negative equity if you want, but the fees are generally paid up front.
However, you lose anything you put down when you drive it into a tree a week later.
There are also still some relatively low interest rates on some vehicles, so keep that in mind. I’m paying 2% on a Jeep Grand Cherokee 4xe lease.
Do you want to cool it w/ the attitude?
Yes, I did read the rest of your post which is why I didn’t understand why you wrote, “… not normally done.”
The OP was asking a mathematical question about paying things upfront reducing cost, not about what was normally done or not.
Crashing into a tree a wk after driving the car off the lot also isn’t normally done, and yet here you are talking about it. So obviously LH isn’t just about talking about what’s normally or not normally done.
::shrug::
I asked because I couldn’t believe you would ask if you had read the qualifier I posted directly after. Sorry you didn’t like the question. I’ll not respond next time.
That would be wonderful. I’ll also just add you to my ignore list to make sure I don’t “dislike” any your other questions (since I’m sure my reaction is all about me and has nothing to do w/ your condescending writing style).
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