Tuesday, April 9, 2019

Is it better to put more money down up front at the start of a lease?

Although the idea of having a lower monthly payment is appealing to most buyers in a car lease, it is not always the best way to go.

Putting less money down up front means you lose less or nothing at all if the car is totalled during the first few months of your lease. Although the monthly payment will be higher if you put less money down initially, you end up paying the same amount of money at the end of your lease (That's because a low money factor means negligible interest charges)!

Don't let a higher monthly payment scare you, it may just be the wiser choice.

Instead of making a down payment of $3,000 or $4,000, put that money into a separate bank account and make your higher lease payments out of that account.

Call us today at 516-CAR-GUY1 for more information about this! Or come down to 3020 Merrick Rd on the 16th of April between 4pm and 7pm during our ribbon cutting event!

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