Quote:
Originally Posted by nick3753
Yes, the chances of losing that money are small, but putting the money down doesn't help you. You're still paying the same amount over the length of the lease. If the money factor (interest rate) is low, than you're better off investing that down payment and paying a higher monthly. If the money factor is high, then you shouldn't be leasing it. Just an FYI (and you may already know this), never negotiate the cost of a car based on monthly payments, ever. True even when leasing.
|
I don't believe every lease deal is the same regardless of putting money down or not, that's why I said I would have to look at the whole deal before saying I would never put money down. If the total money is the same (or close) I agree with you. If one has me paying less over the term by putting some amount of money down I would consider it.
With a lease, if I am decide I want a BMW 3 series and I am shopping three dealers, all with the same spec'd car, why can't I shop the lease payment/money down only (factoring in time value of money for the down payment)? If one has a lower price and the other a lower money factor (or some other variable different), not seeing why I care, my goal is to get the car I want for the lowest monthly payment / down payment.
Two people, same spec car, same term, same down payment, one is paying $500 a month and the the other is paying $475 a month, I would say the $475 a month was the better deal without knowing the MSRP or money factor or any other variable?
For a purchase I need to know the selling price because I have the option to finance somewhere else or buy it outright, I don't see either of these options for the lease.