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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I’m going to focus on this question for a moment and then look at a few of the others.
Under no circumstance should you ever be stepping foot in a dealership to talk numbers without knowing exactly what the lease should cost first. Beyond that, there’s really no reason you ever need to put a dealer’s offer into the calculator.
You should be working out what your target deal is on the vehicle and then make an offer to the dealership. Don’t ask them how much they want you to pay. If you have a target deal and end up with a dealer offer, you can instantly judge if it’s any good by comparing against your target deal.
As for money factor mark ups… who cares if they mark it up? A money factor mark up, as long as they’re meeting your target deal, at best helps you and at worst leaves you in the same place. People dwell on money factor mark ups like they’re some personal attack. If a dealer needs to mark up the money factor with a commensurate discount to get to your numbers, let them. It simply lowers your buyout up until the end of the lease.
The biggest take away you can learn from this site is how to establish a target deal for your situation. Once you have that, understand most dealers will say no, and then pursue it.
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Perfect. I look forward to never interacting with you again. Have a great day!
I’m sorry. I didn’t mean to cause any trouble for anyone. Thanks for answering my questions.
You didn’t. Some people are just… whatever.
You didn’t do anything. I hope your search goes well.
Thank you! It just feels such like a complicated process sometimes
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So do some basic math. You’re going to spend $13,000 total on this lease. Followed by let’s say $14,000 on the next one. So $27,000 in payments over 72 months for a $26k car and nothing to show for it at the end?