2007-02-15 06:37:30 · 8 answers · asked by Mergeman 2 in Cars & Transportation ➔ Buying & Selling
Yes, on nearly all of them. There's the security deposit, the 1st month's payment, and fees and taxes. It averages out to nearly $2000.
On the other hand, you can BUY a car with nothing down, if you have decent credit, and you don't have to buy a new one after three years.
I've never understood why the average person leases a car. You get stuck in the endless cycle of having to lease a new car every few years and you constantly make car payments above what an average monthly repair bill would be. The ONLY reason to lease a car is for the tax advantage gained for certain businesses. Some will say that you get "more car for your money." Really? Then why do you have to give it back? When you buy a car you own it after you are done paying for it.
I've owned a grand total of six cars in my life (I'm 46, and bought my first car when I was 18). I had my first one for a year (used), and my third one for two years (used). I drove my second car (new) from 1980 until 1992. I still own my 4th car (project car), which I drove for 11 years. I just bought number 6 in late November. I've saved myself thousands on car payments.
DO NOT let car salesmen tell you what you can afford. That is your decision. You tell them what you are willing to spend. If you HAVE to get a lease, know the car you want before leasing. This will keep you from getting roped into a more expensive car.
2007-02-15 06:59:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Down payments arent always required. Some places offer sign and drive leases, Ive noticed Dodge, Jeep and Chrysler do this the most, but i may differ depending where you are from. With a sign and drive price, it doesnt included the upfront fees, or the 1stm month payments, but I have found that you can add the upfront fees, as well as the 1st month payment to the total of the lease, and have a higher payment. If you choose to do that it is truely sign the papers, and drive the car off the lot without a penny out of your pocket untill the 2nd months payment. That is what I did when I got my lease 2 years ago, and Im planning on doing that again in the next feww weeks when the lease is up.
2007-02-16 05:37:35 · answer #2 · answered by chad m 2 · 0⤊ 0⤋
1 - Down payments are NOT refundable at the end of the lease. You are confusing a down payment with a security deposit. They are two completely different things. A LEASE is not the same thing as a rental. A down payment is required for two reasons. It gives you skin in the game. It shows the lender that you are willing and you have the ability to invest your own money into the car in order to drive it for the next three years. It also reduces the amount of money you pay each month. The more you pay up front the less you owe in the end.
2016-05-24 04:06:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You will typically have to pay the 1st months payment, security deposit, title/registration fees at lease signing.
Typically, an actual down payment is not usually a requirement, it just gets you to a lower monthly payment.
2007-02-15 06:44:06 · answer #4 · answered by Robert S 3 · 0⤊ 0⤋
most iv seen are 1 to 3 thou. the more u put up front the lower the monthly payment...remember you also pay a lump sum at the end of lease..unless your boss or bizness pay its much better to buy
2007-02-15 06:45:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes on most leases.
2007-02-15 06:43:28 · answer #6 · answered by TC1 2 · 0⤊ 0⤋
When you see them advertised on television, the small writing at the bottom of the screen will specify a money amount.
If you have good credit (like I USED to have -- lol) then no... you don't need one.
2007-02-15 06:48:50 · answer #7 · answered by rob1963man 5 · 1⤊ 0⤋
unless you have great credit then no
2007-02-15 06:45:12 · answer #8 · answered by yvette v 2 · 0⤊ 0⤋