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I've done that on all my leases. The dealers never flinched.
You should never put money down on a lease. You SHOULD for traditional financing, but not a lease.
I love those low monthly lease payments. Until I take the down payment they want and divide by 36 and add that into the monthly payment. That's when I see a lease is just as expensive as buying.
I love those low monthly lease payments. Until I take the down payment they want and divide by 36 and add that into the monthly payment. That's when I see a lease is just as expensive as buying.
My very experienced Tax Man / Accountant told me many years ago . . . "Leasing Is A Scam" that allows the "Financially Challenged" to drive more vehicle than they are able to afford.
Since that wise statement I have never leased a vehicle.
I've never leased a car. It always seems to impractical in a state like Maine, where everything is far apart. A lot of the advertised lease rates are for mileage around 10,000 per year. I usually average about double (and some years triple) that! I guess if you had money to burn and just wanted a weekend cruiser, it would be feasible.
My very experienced Tax Man / Accountant told me many years ago . . . "Leasing Is A Scam" that allows the "Financially Challenged" to drive more vehicle than they are able to afford.
Since that wise statement I have never leased a vehicle.
We use the leased vehicles in the business, and write it off on the taxes. And it keeps my wife in a newer car with the latest safety equipment and a low, fixed monthly expense that's easier to plan for than occasional large repairs that could take the daily driver down for extended periods of time.
We use the leased vehicles in the business, and write it off on the taxes. And it keeps my wife in a newer car with the latest safety equipment and a low, fixed monthly expense that's easier to plan for than occasional large repairs that could take the daily driver down for extended periods of time.
For a business that can write off the payment instead of having to worry about accounting for a depreciating asset, leasing makes perfect sense. For the average person who doesn't have that tax advantage, it's not much, if any benefit.
For high end cars, a significant down payment is usually required for a lease, because the depreciation costs need to be recouped by the dealer.
Jaguar and Porsche are pretty bad at this. To lease a Panamera for example, it's $1k per month for 30 months, and your down payment at signing is something like $6-8k. Rolling that into the lease payments would put the total well over $1k, if they would even agree to do it.
For high end cars, a significant down payment is usually required for a lease, because the depreciation costs need to be recouped by the dealer.
Jaguar and Porsche are pretty bad at this. To lease a Panamera for example, it's $1k per month for 30 months, and your down payment at signing is something like $6-8k. Rolling that into the lease payments would put the total well over $1k, if they would even agree to do it.
A down payment is not required to lease. It's required to get to the advertised lease rate.
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