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Re: Is This Lease A Good Deal??? (archive)
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Posted by SILVERBULLET on October 14, 2001 at 08:38:06:

In Reply to: Is This Lease A Good Deal??? posted by BKF on October 12, 2001 at 21:56:56:

Listen Dude,
I know a alot about leasing, and to put it short and to the point: DO NOT SIGN THIS LEASE!!!! For the following simple reason:
***Never put any money down in a lease. It's just a gimmick to make your monthly payment appear lower. If you get into any accident and total the car, even though you won't be responsible for susequent payments on the lease, YOU WILL NOT GET A DIME OF THAT $7500 THAT YOU PUT DOWN BACK. IT WILL BE GONE!!!
Everyone who knows will advise you always lease with zero down. Instead put that $7500 in a money market account, and help pay out the lease with it. This way it is safe.
Also, you must consider various numbers they are basing the lease on: 1) Money Factor 2) Residual value. All of these numbers if manipulated by the dealer may end up costing you $100s a month difference. You always want to negotiate the "buy rate" for the money factor.

Go to www.carbuyingtips.com for an in depth information on leasing. They also have a lease calcualtor on Microsoft EXCEL that you can download to verify the dealer's numbers
Good luck

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