981 leasing question -- Do these numbers look right?
11-06-2012, 12:25 AM
#16
Instructor
Join Date: Sep 2010
Location: Redmond, WA
Posts: 157
Likes: 0
Received 0 Likes
on
0 Posts
There is nothing bad about putting money down on a lease. If you put money down on a lease and crash the car, your insurance will pay out the full amount, just like it would with a car you own.
Leases (especially directly from the car company) often have unattractive interest rates, paying upfront minimizes the amount you are financing at this unattractive rate.
That said, I would also look into joining Penfed (anyone can, it just costs a $20 donation). They have 'payment saver' balloon loans that can have even cheaper payments that leases and minimum up-front outlays, of course you have a balloon payment at the end, but this is being financed at 1.79%, which is an awesome rate - much better than almost any leases...
Andy
Leases (especially directly from the car company) often have unattractive interest rates, paying upfront minimizes the amount you are financing at this unattractive rate.
That said, I would also look into joining Penfed (anyone can, it just costs a $20 donation). They have 'payment saver' balloon loans that can have even cheaper payments that leases and minimum up-front outlays, of course you have a balloon payment at the end, but this is being financed at 1.79%, which is an awesome rate - much better than almost any leases...
Andy
