End of Lease Nears :(
#16
I wouldn't say "most" require a lump-sum payment up front. As it all depends on the car, the leasing company, your credit qualification, and the negotiated lease term.
I'd say the average required down payment would only be $1,000 or so; from what I have seen for a car around $35-40,000. Although I would be willing to bet most people put more.
I'd say the average required down payment would only be $1,000 or so; from what I have seen for a car around $35-40,000. Although I would be willing to bet most people put more.
Most of the Lexus lease deals I see advertised are more like $3500 down, $350 a month for a $35k car, or going upward of that in roughly the same ratios based on total car price.
#17
I had never really thought of the lease down payment as being negotiable (as I said I always buy), but it makes perfect sense to me that it would be. $1000 does seem low though, because the depreciation driving off the lot would devalue it past that before the first payment.
Most of the Lexus lease deals I see advertised are more like $3500 down, $350 a month for a $35k car, or going upward of that in roughly the same ratios based on total car price.
Most of the Lexus lease deals I see advertised are more like $3500 down, $350 a month for a $35k car, or going upward of that in roughly the same ratios based on total car price.
Nonetheless, a $3500 seems like a lot; and is probably the most I've seen for a $35k car. I looked at leasing a 2010 IS250 that was MSRP'd around $35, and I believe the down payment was $1k; and I didn't qualify for top-tier financing.
#18
In this area (NC), 10% or so of the purchase price seems to be the norm. The only time I see a $2k down lease offer is for something like an Accord, maybe a little less for something like a Corolla. I would think those are their top-tier finance rates... at least the APR they tend to advertise for a purchase usually has "for those who qualify" in small letters. Maybe its just a regional thing or they offset it by adjusting the monthly payments in some places?
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