Car Leasing 101 – $0 down vs $0 due at signing #carshopping #personalfinance #moneytips

Car Leasing 101 – $0 down vs $0 due at signing #carshopping #personalfinance #moneytips

HomeRavi Wadan - Financial EducationCar Leasing 101 – $0 down vs $0 due at signing #carshopping #personalfinance #moneytips
Car Leasing 101 – $0 down vs $0 due at signing #carshopping #personalfinance #moneytips
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Car Lease 101 – $0 down versus $0 due at signing

When you lease a car, the “down payment” is the amount you pay upfront to reduce your monthly lease payments. So if you make a $2,000 down payment on a 36-month lease, for example, you may be able to reduce your monthly payments by about $55.

/"$0 down/" means you are not required to pay a deposit up front when you lease the car. Instead, you will only be responsible for paying the document fee, first month's payment, taxes, and license and registration fees at the time of signing.

/"$0 due at signing/", on the other hand, means you won't have to pay anything up front when signing the lease. However, this doesn't mean you won't have any fees associated with the lease. You will still be responsible for making your monthly lease payments, and you may also have to pay other fees such as taxes, registration fees, and a security deposit, which will be rolled into your monthly payments.

In short, /"$0 down/" means that you won't have to make a deposit up front, but you will still have to make monthly lease payments. /"$0 due at signing/" means you won't have to pay anything up front, but you will still have to make monthly lease payments and other fees may be added to those payments.

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