Quote:
Originally Posted by Mephistopheles Janx
All the down payment money above the $3500 required at signing.
So, if I put down $5k total as my down payment at 15k miles per year my monthly payment comes out to $270 per month.
If I put down $7k ($2k more) total as my down payment at 15k miles per year my monthly payment comes out to $210 per month. That is a $60 per month difference.
The lease is for 36 months. So:
$60 x 36 months = $2,160 (+ $160 to me)
By putting down an additional $2k to begin with I will have saved, over the course of the lease, $2,160, which is a measly $160+ to me, but knowing that I "get" the $2k back over the course of the lease AND my monthly payments are lower is nice.
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So you're not getting it back. You're just paying in advance?
Trying to clarify as I'm currently looking for my daughter who's going away in a couple of months and I'm sick of her asking me for gas money at $40-50 pop.
Nothing's reimbursing you, right? You're just paying a larger down payment and telling yourself, you're getting that money back?
So for instance, if you paid off the entire lease amount up front. You'd physically get nothing back right?
What about the tax write-off as well? Is there any?