Q1) So all the dealers are telling me (without running the numbers, so they could be totally wrong) that I wont save much money on a single pay lease.
When I run it through the leasehackr calculator I’m saving about $1K (goes from total lease cost of $7.8K to $6.8K). To me, profiting $1K on a $7K investment over 3 years is better than keeping the money in the bank. So is this right?
Q2) With a single pay lease, can I still contruct it as a 0 down / 0 drive off? (i.e. roll those payments into the monthly lease). In a one pay lease, it wouldn’t impact the total cost of the lease beyond a negligible amount and would seemingly protect me if god forbid there was a total loss of the vehicle (i.e. be refunded future prorated amount)
Q3) Are their any risks I take in regards to a one pay lease? Per other threads that corrected my assumptions it seemed not, but wanted to make sure.
One pay will def save money compared to monthly. To do 0 down / 0 drive off I think most dealers would look at it as a monthly lease and therefore MF will be different. And like you said one pay is not like a down payment so no risk with losing the amount paid.
Why would you roll fees into a one pay? Paying them upfront eliminates paying tax on the fees. Dealers sometimes stop you from yourself.
A one pay lowers your MF, but for example, your MF is 1.5% interest and a one pay lowers it 1.75%. This is impossible, so it actually just lowers it 1.4%. You have to figure the difference in interest and weigh against opportunity cost.
Btw, if you do a 2 year lease, you may save by waiving acquisition fee. Much info from April chevy leases here.
so the calculator might not be correct, in zeroing out the driveoff calculation with a negative down payment, it only increases my total lease cost (not all in one) by $40. When I click the one pay, its only $1 more than the 0 down payment value.
the reason I’d think (perhaps naively) to roll them into the one pay, cause its $1400-$1500. If I spread that out over the virtual months, I’m protected if the car gets totalled, I’ll get some prorated portion of it back. if I pay it as drive off, I wont get it ack.