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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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If you lease your car...(money down question)
Do you pay the taxes up front and/or put money down to make your payment less during the term, OR do you roll everything into the payment to avoid the initial out of pocket and deal with the higher monthly payment? Why? We are having a debate and without saying what I want to do, I am interested in opinions. Thanks in advance!
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Posted 6/16/08 8:19 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: If you lease your car...(money down question)
We used the tax as the downpayment. I did not put anything out of pocket otherwise.
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| Posted 6/16/08 8:24 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: If you lease your car...(money down question)
I put down 2000 and that covered the taxes and first month payment. I cannot pay interest on the tax i think thats crazy. IMO
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| Posted 6/16/08 8:24 PM |
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sunflowerjesss
Mommy to 3!
Member since 10/05 20369 total posts
Name:
Jesss, duh.
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Re: If you lease your car...(money down question)
We put 3k down. Covered tax and first month.
eta - the 3k also covered installing an after market auto start on the suv
Message edited 6/16/2008 9:08:38 PM.
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| Posted 6/16/08 8:51 PM |
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KPtoys
I'm getting old
Member since 5/05 8688 total posts
Name:
Karen
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Re: If you lease your car...(money down question)
I had my old lease to pay off (needed a bigger car and was over miles and needed out of the MDX) so I did a sign and drive, just 1st months payment. The taxes and bank fees were rolled into my payment at 2.25% interest. If I didn't have to pay off the other car I would have done taxes, fees and 1st months.
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| Posted 6/16/08 9:04 PM |
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ChilisWife
God Bless America
Member since 5/05 3572 total posts
Name:
A.K.
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Re: If you lease your car...(money down question)
I did not realize that if you roll the taxes into the payment, that you pay interest. Really?
The reason why I am being told not to pay the taxes up front is because if you total the car right away, then you lose that money
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| Posted 6/16/08 9:22 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: If you lease your car...(money down question)
Posted by ChilisWife
The reason why I am being told not to pay the taxes up front is because if you total the car right away, then you lose that money
Very true! Another reason why I don't lease. 
Same goes if the car is stolen.
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| Posted 6/16/08 10:20 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: If you lease your car...(money down question)
nothing up front except DMV fees and first month.
Also, get gap insurance to make sure if you total the car you can pay off the lease entirely and not owe anything. It's cheap and most dealers include it, but ask anyway.
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| Posted 6/16/08 11:07 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: If you lease your car...(money down question)
I won't lease a car again, but when we did lease ours (7 years ago) we paid the taxes upfront. The problem with that was that when we moved out of state, they increased our payment to pay taxes AGAIN to the new state. That's when I paid it all off and only one of the reasons I will never lease again.
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| Posted 6/17/08 6:15 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: If you lease your car...(money down question)
We don't lease but if we did I'd pay the tax upfront but I wouldn't put any money down. Its their car, not yours why give them a chunk of your money up front?
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| Posted 6/17/08 6:23 AM |
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kahlua716
3 Girls for Me!
Member since 8/07 12475 total posts
Name:
Keri
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Re: If you lease your car...(money down question)
DH is in the process of leasing a car- we are paying taxes and fees upfront for lower monthly payments.
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| Posted 6/17/08 9:10 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: If you lease your car...(money down question)
I think I paid the taxes and the first months payment
I rolled the ipod intergration into the payment- since it was $1K
I never put money down- my SUV was suppose to be $519 with about $4K-$5K down
I am paying alittle more then that with nothing down- plus the Ipod thing
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| Posted 6/17/08 9:20 AM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: If you lease your car...(money down question)
never put money down on a lease
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| Posted 6/17/08 10:48 AM |
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jea128
...
Member since 5/05 3415 total posts
Name:
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Re: If you lease your car...(money down question)
We rolled it all in to our payment. The only reason we put money down is because we had negatie equity in our trade-in.
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| Posted 6/17/08 10:58 AM |
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