Lease down payment
Senior Member
Joined: Sep 2015
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From: Ohio
Senior Member
Joined: Dec 2014
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We've leased more than a few cars and SUVs over the years. Zero down on all of them.
If you pay money up front on a lease and the vehicle gets totaled early in the lease, you risk losing that money when the insurance settles with the vehicle owner (the leasing/credit company, not you)
If you pay money up front on a lease and the vehicle gets totaled early in the lease, you risk losing that money when the insurance settles with the vehicle owner (the leasing/credit company, not you)
5 Year Member
Joined: Feb 2011
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We've leased more than a few cars and SUVs over the years. Zero down on all of them.
If you pay money up front on a lease and the vehicle gets totaled early in the lease, you risk losing that money when the insurance settles with the vehicle owner (the leasing/credit company, not you)
If you pay money up front on a lease and the vehicle gets totaled early in the lease, you risk losing that money when the insurance settles with the vehicle owner (the leasing/credit company, not you)
I looked into it once, thinking I would just pay $13-20k every three years and always drive a new vehicle. But losing that money would be very bad.
Easier to pay on a truck for 3 years and get $5k+ back at the end. That “drops” you payment below a lease payment anyway. Good luck in your purchase.
Senior Member
Joined: Nov 2017
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This.
I looked into it once, thinking I would just pay $13-20k every three years and always drive a new vehicle. But losing that money would be very bad.
Easier to pay on a truck for 3 years and get $5k+ back at the end. That “drops” you payment below a lease payment anyway. Good luck in your purchase.
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Zero down, but if you're going to get some swinging deal by putting $1000 towards your cap cost in drive off, then might be worth it. Just total up your 2 or 3 year (or however long your lease will be) cost and see what is best.
5 Year Member
Joined: Feb 2011
Posts: 1,406
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My last vehicle was $600 a month and I had it almost 4 years. I got $11k on trade in, so my payment came out to $366 a month.
Hope I explained that well. Leases can be useful but buying the vehicle and keeping it 3+ years usually works out better for me.
Of course keeping it 10 years would work out even better.
