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Ideally, I'd like to not pay more than $2000 down, and if the monthly payments listed includes gap with the additional miles (about 18k to 20k), is that doable?
Also, since most new cars already come with 3 year/36k warranty, will I still get offered additional warranty packages? If so, do I need it?
And how does the returning process work in 3 years? Im assuming for normal wear and tear, they won't try squeeze additional money out of me?
1. yes you can ask for 15k or 18k miles. If you plant to dump that much mileage, maybe leasing isn't good for you.
2. Normal wear & tear is fine. Typically you are given $500 per damage spot allowance..up to 4 spot... $2,000 total. Keep in mind that repainting a bumper is almost certainly over $500.
Most dealers do offer excess wear & tear for the lease term. It can be worth it for some people. Be careful to get the one from the official one using factory one oppose to 3rd party warranty. Always read the fine print. Prices are negotiable. I'll throw some ballpark figures. $600-$900 for up to $8000 of damages. A bent alloy rim can cost upwards of 2 grand plus. In an urban city, the odds of damages are higher
If you're leasing, the only advice I an give you is......
Don't put ANY money down. Do pay your taxes and registration fees upfront though. No sense in paying interest on that.
Focus strictly on payment. You'll have posters here tell you that you negotiate based on the total price of the car. My question is, why? Unless you plan on buying the vehicle out after your lease is up, your only concern is getting as your monthly payments as low as possible while getting the allotted mileage and length of lease that you desire.
If you're leasing, the only advice I an give you is......
Don't put ANY money down. Do pay your taxes and registration fees upfront though. No sense in paying interest on that.
Focus strictly on payment. You'll have posters here tell you that you negotiate based on the total price of the car. My question is, why? Unless you plan on buying the vehicle out after your lease is up, your only concern is getting as your monthly payments as low as possible while getting the allotted mileage and length of lease that you desire.
Because the lower the price of the car the lower the lease payment. You should know exactly what you want to pay for the car and know the payment that comes along with that with $ down.
Because the lower the price of the car the lower the lease payment. You should know exactly what you want to pay for the car and know the payment that comes along with that with $ down.
Not necessarily. Some dealers inflate their lease residuals in order to lower your lease payments. I can care less what the residual is if I'm turning the car in at end of lease. That's the banks problem now.
And then he'll have a $400 a month car payment. I love this "Don't put money down on a lease" business...
Putting money down will lower your monthly payment but it wont lower the total cost of the lease.
Reason behind not putting any money down on a lease is because if you total it or it gets stolen, you lose that down payment. Keep it in the bank and put it towards your monthly payments.
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