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Parenting
Does anyone lease a vehicle?
We have always owned our cars, but are thinking about leasing the next one.
I read the fine print, and there is a down payment. Now, when the lease is up in 3 years, do you have to pay that down payment again for a different car?
Surely I could call a dealership, but I don't feel like having them harrass me nightly until I sign 
Thanks
DD1 12.18.06 DD2 9.18.08 DD3 EDD 5.10.2012
This discussion has been closed.
Re: Does anyone lease a vehicle?
Yes. You do. The down payment is on the lease. There are 3 basic pieces that matter.
1. The down payment
2. The monthly payment
3. end of lease fees (mileage overage, fines for things that you might consider normal wear and tear).
You an also look at the residual value, which is the price you can purchase the car for at the end of the lease, if you plan to do that.
In general, I recommend against leases for most people. There are situations where they make sense, but mostly not.
We have never considered it, but we are falling into the quicksand of investing more and more $$ into our SUV. We were debating putting out the big bucks for a new one, financing (probably trading it in at the end anyway), or purchasing a used SUV and dealing with maintenance costs. Our friend is able to get us a very low cost lease right now, so we are considering jumping on this opportunity.
Just wasn't sure what happened at the end if you continued to lease, and forgot to ask him. I thought I had heard of dealerships waiving the down payment if you continue to lease with them...
I think you really need to research. I have always leased and never paid a down payment. It's called sign and drive. You just sign.....and drive away.
Unfortunately, I am leasing with Chrysler right now and have decided to go back to GM when my lease is up and right before I signed the papers for my current lease they showed me the "disposal" fee of $400 if I didn't lease or buy another Chrysler. I wasn't happy about it, but figured I would be going with Chrysler again, so signed anyway. However, my lease is close to being up and most GM dealerships are willing to waive or pay that fee to gain my business.
Other than that, watching miles sucks, but I have been happy with leasing for the most part.
Good luck.
We have a hookup at GMC that gives us employee pricing. He can get us the Acadia for $250/month, but we have to pay for the down payment, approx $2K
I drive an Acadia, and I love it! 250 a month is freaking fantastic. We paid about 2k too, but it was for the taxes and title etc. You will love the Acadia. our lease is coming to an end, and we will probably get another one, but this time with the captain's chairs.
If you lease from the same dealership over and over again, they tend to bypass the down payment on subsequent leases (at least in our experience).
I've leased from lexus for a while now (on my 3rd car from them). I've only ever paid a down payment on my first car which was when i graduated from college. Every other time they overlooked the down payment if i went through them again as opposed to getting something else. DH has had a similar experience with mercedes.
Good to know! We haven't made a final decision about the possibility of baby #3 yet. If we go for it, do you think you could fit 3 carseats? My DH wants to get a minivan, but I really want to take this deal.
My friend has 3 and she has the Acadia with the captain's chairs, and it is fine. She has the oldest in the 3rd row, and the other two in the second row. I think you should go for it! When we first got the car, we had one, so I didnt care about the captain's seats, but now that we have 2, we cant ever use the 3rd row.
Great thanks so much!
it looks like you got your answer, but I wanted to say hi
I've never put money down on a lease. It's technically not a great investment in the first place and to put money down is worse, but it sounds like this is how they're getting you such a great monthly payment. It's worth asking what the payment would be without the down payment. You may be surprised and it still may be fairly cheap.
I've leased vehicles for the last 15 years. I always did 2 year leases just because I wanted a new vehicle in a couple of years. This year I had to do a 3 year lease because GM wasn't leasing for 2. My DH works for GM so I get a discount. I've never paid a down payment. I only had to pay for licence, 1st months payment and maybe one other small thing. I get 15,000 miles a year (or a total of 45,000). At the end of your lease you will owe for any miles you go over and for any damage. If you have a nick or crack in your windshield make sure it is taken care of before turning it in. When you lease they give you a "kit" that shows how big a dent/scratch can be (about the size of a quarter) and a guage to figure the depth of tire tread, etc. I've never had to pay at the end of my lease, but have gotten money back. In the past I have always purchased extra miles (cost about $15 extra per 1,000 per month. I'm sure different companies charge differently but for GM is used to be 15 cent for every mile over (I think it went up this year though). You have to figure outhow many miles you drive each year so you know if leasing is cost effective for you. If you don't drive much then go for it.
I believe if you put down a down payment your monthly payments are reduced (I'd rather have that money in MY bank). Also, if you ask for less miles the monthly payments are less. I love leasing.