Cash Down on a Lease .. Whatâs TOO MUCH?
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- Äas pĆidĂĄn 12. 03. 2019
- (Skip to 4:35 for the quick answer) People constantly ask me what amount is required to lease a car, and what you ACTUALLY need to put down when leasing. To be honest, even the amount that is required can often be capitalized or rolled into your lease payment making it a zero down lease.
In this video, I go over what I would suggest you put down when leasing a car, and typically, I wouldn't suggest putting more than 5% of the MSRP of the car as the amount.
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Your the best! great info
This is why I don't put down payments on anything. I rather pay just a bit more and keep access to my money. Use the down payment to supplement your payments if that situation arises.
In my opinion, what confuses people is the word "down". So that 5% (just to use your number), is not a 'down payment'. It is, as you said, your 1st month's payment, as well as an acquisition fee, doc fee and reg. fee. So that has nothing to do with a 'down payment' as most people tend to think. Just me, but I prefer to say 'out of pocket' (or something like that). There are some leases that require no money at all "out of pocket". But, essentially, you're rolling that money in to the lease payment. But, conversely, you can have a 'no money down' lease and still have money due at signing.
100 percent using ur business for my next lease !
This is advice, albeit dated by no fault of the poster, is absolutely and purely based on whether you total your car and the insurance company agrees that it's unrepairable. That's it.
Iâm sick to my stomach. I put down 5k on my lease. Never again
Man thanks for the info just a little feedback .. get to the point right away đđ» for future reference
When you introduce yourself... You shouldn't say you're running a car "buying" service... because I suspect a lot of people lease and in that case your not buying s*** you are rentinh but I still love your channel!
Ari not only giving us ideal lease deals, but also teaching us math with all these decimal multiplication đ
U the best Ari please keep it up
Good info. However, if the dealer says No and tells you they need 5% down plus acquisition fee, what should I tell them? It ends up being extra $1500. I feel like I should give him a reason to counter him. Thanks.
These people are nuts then. I live indiana and they want $2,400 on a 2019 Honda Civic EX which MSRP is $24,320. Good to know I did not make that decision. Youâve been helping so much with my car leasing decisions
I have a trade that is worth $8,000. I will put no money down, but apply the trade equity ($8k) which lowers my monthly payment. If I don't apply the trade, my payments will be sky high.
This is great advice as I wasn't thinking about that at all. Thanks
Never put anything down on a lease. That money is just a prepayment of the lease. It is a terrible idea. You shouldnât be telling people to do anything but pay first months payment at inception. Roll everything else into the lease. It is bad advice to tell them to do anything else.
Wish you quick and full recovery. You are awesome. You have helped me and my friends. Thanks so much
It when I use this formula the monthly price of the lease is always too high. So I put down additional money to get my payments where I am comfortable
But what if your credit is top tier? In my case BMW said I had to put down the full 5000 plus first month payment.
Great advice and I agree 100%. I guess itâs same if car is stolen and not recovered or totaled . PS: I was getting withdrawals waiting for another video :)
Thank you for the great info. You said this rule can be applied to any car for example a G wagon or a Ferrari