Automotive

Down payment on lease car

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  • Jun 25th, 2019 10:14 am
[OP]
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Mar 25, 2005
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Down payment on lease car

I've read multiple times why this isn't such a good idea but other than the risk of getting into an accident and losing it what else makes it not popular option?

Looking to drop 12-15k on bmw lease to lower payments
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Oct 6, 2010
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If you're not getting the cash back at the end of the lease that would suck. Also, what if you didn't like the car and wanted to dump it say on leasebusters? You'd lose that cash. Also, you can put that cash to better use for other things than lowering a monthly payment. For example: getting implants and working as a webcam model, you'd probably recoup your 12-15k in 6 months to a year and continue to make income better than any high risk portfolio.

But your money, do what you will.
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Jul 30, 2007
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why give them so much $ in the first place unless the lease interest rate is like 5%+ ... after all, it makes more sense by doing 'pay as you go with $0 down' and take that proposed down and invest it
Deal Fanatic
Sep 1, 2004
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jdmkidd wrote: Looking to drop 12-15k on bmw lease to lower payments
Anytime someone utter the words "to lower payments", you can't afford that car, especially it's a lease which has lower payment to start with.

The point of a lease it to not tie your asset/money in a depreciating asset.
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Jun 26, 2007
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???
People usually put down a large down payment to satisfy the credit requirement. A lot of visa students need to put down a large down payment because no credit history plus security deposits. That’s really the only time you should put down a large down payment, credit issues.
[OP]
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Mar 25, 2005
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Xtrema wrote: Anytime someone utter the words "to lower payments", you can't afford that car, especially it's a lease which has lower payment to start with.
I have never leased a luxury vehicle before and its an honest question that I've posted on an automotive forum. I'm not surprised thought as I was waiting for a post like this.
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Aug 22, 2011
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jdmkidd wrote: I have never leased a luxury vehicle before and its an honest question that I've posted on an automotive forum. I'm not surprised thought as I was waiting for a post like this.
How much are you looking at?
I see many lease adds, requiring $5K and up as a down payment.
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Mar 23, 2008
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vkizzle wrote: How much are you looking at?
I see many lease adds, requiring $5K and up as a down payment.
I don't think they're "requiring" that much up front. They're advertising an attractive monthly option, and then in the fine print saying "to get this great monthly rate, you need to put down $5k", which means that if you don't want to put down that much, you can. But your monthly rate will be higher.

C
Jr. Member
Mar 3, 2019
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If you decide to put that much down on a lease, chances are you will never see that money again.
I would highly recommend putting down smaller amounts if it is just to meet credit requirement.
Chances are when the contract lease is over, the residual will not match up with the money you put down, meaning the money you put down upfront will only decrease the monthly payment.
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Sep 1, 2004
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jdmkidd wrote: I have never leased a luxury vehicle before and its an honest question that I've posted on an automotive forum. I'm not surprised thought as I was waiting for a post like this.
Not a knock on you. If you want to put $ down, finance it. Do future finance if you want lower payments. So you are not putting money down on someone else's car.

Leasing with down payment ON a luxury vehicle is not financial savvy. Leasing is all about walking away when something happens like a lemon or been in accident and hit with diminished value.
[OP]
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Mar 25, 2005
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vkizzle wrote: How much are you looking at?
I see many lease adds, requiring $5K and up as a down payment.
Here is the rough copy.

Image
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Sep 8, 2017
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Don't do it. You'll lose it in the event the car's written off.
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Jan 15, 2006
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Makes ZERO sense to put a down payment on something you don't own; period.
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Jul 30, 2007
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@1.99% interest rate, you should really not to put that much down. Period.

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