New to leasing.
Thread Starter
Super Member
Joined: Feb 2005
Posts: 929
Likes: 3
From: Littleton, CO
2005 E55 silver
New to leasing.
Ok, please excuse my ignorance/stupidity. I have never leased a car. If I was to trade in my current car and all the dealer did was pay it off, am I starting with a net $0 down payment? I am wanting to lease something a little newer and more expensive but not sure I can get the payments down to what I can afford.
Also if I turn the car back in, with the agreed mileage, do I have to pay any other fees?
Thanks for you help.
Also if I turn the car back in, with the agreed mileage, do I have to pay any other fees?
Thanks for you help.
Former Vendor of MBWorld
Joined: Jan 2005
Posts: 583
Likes: 0
From: Cincinnati, OH
It depends on whether there is equity when comparing the payoff to the market value. if there is equity have the dealer give you the $$$$ instead of using it to lower the cap cost on the lease. If negative equity then you can usually add that to the cap cost.
At the end of the lease you may have an excessive wear and tear charge.
You can find out payments would be using our LeaseCompare.com service.
At the end of the lease you may have an excessive wear and tear charge.
You can find out payments would be using our LeaseCompare.com service.
