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It is not advisable to put money down on a lease Auto Lease 101
Putting money down on a lease
    Is auto leasing for you?Choosing a vehicle to leaseNegotiating a vehicle purchase pricePicking an ideal lease termYearly mileage considerationsPutting money down on a lease  
  Because you pay for the use of a vehicle during a lease, you should put as little money down as possible, up front. Although putting money down can lower your lease payments (by reducing your capitalized cost) in most cases it cannot be regained in the event of early termination due to a loss.
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    For example, a customer once leased a Toyota 4Runner and put $3,000
down as a cap reduction. Five months later the vehicle was totaled in an
accident. The client's insurance paid its portion of the lease payoff and
Gap Insurance paid the balance. Our client walked away with only paying
his insurance deductible but he did not get reimbursed for his initial down
payment of $3,000. It was lost.

The moral of this true story is to put as little money down as possible,
ideally no money down. Here are some other things to consider:

  • Money down is taxable
  • Take the money you would have put down and invest it
  • Put your down payment in a savings account and use a portion each month to help make your lease payment
Thanks for taking our quick lesson on auto leasing. You're now prepared to
make a smart leasing decision. Use our tool to Compare Auto Lease Payments
ACS has been helping customers save money on their auto lease since 1998 is a service of Automobile Consumer Services, Inc.  Saving customers time and money since 1989.
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