re: Car lease question

quote:

---

The money down affects the lease payment, just like a purchase.

---

yes, but if the lease gets totaled in a wreck, you lose the money down.

quote:

---

I'd stay away from AWD vehicles

---

The OP is living in MN. You are an idiot.

Buy a Subaru if you would plan on owning it more than 5-6 years.

Negotiating a lease, though, is not too different from a purchase. There is a capItalized cost (like a sales price) and the residual (what you would pay to purchase the car after the lease is up, or what they would expect it to be worth when you turn it in). The monthly payment is essentially the difference between those two divided by the months of the lease. The money factor is equivalent to the $ you’d pay for interest if you were to purchase. Ideally you want the capitalized cost lowered and the residual raised as much as possible. You can take less miles which will raise the residual and lower your monthly payment. You should always get the capitalized cost lowered. Plenty of good stuff on google. Good luck.

quote:

---

Then he could buy a car instead of asking people on the internet about leases

---

Or lease one and never have to worry about depreciation or maintenance. Maybe OPs never leased a car before. Jesus some of you folks act like your way is the only and or the right way. frick.

Bad idea to lease. Essentially, leases are car notes at 14% interest in average.

quote:

---

yes, but if the lease gets totaled in a wreck, you lose the money down.

---

Not true. I totaled mine and made 5 grand. Blue book was higher than the residual.

Found daughter a clean, used Camry with 34,000 miles for $11,200. Something like that would be perfect for short commutes.