In my opinion, what confuses people is the word "down". So that 5% (just to use your number), is not a 'down payment'. It is, as you said, your 1st month's payment, as well as an acquisition fee, doc fee and reg. fee. So that has nothing to do with a 'down payment' as most people tend to think. Just me, but I prefer to say 'out of pocket' (or something like that). There are some leases that require no money at all "out of pocket". But, essentially, you're rolling that money in to the lease payment. But, conversely, you can have a 'no money down' lease and still have money due at signing.
This is why I don't put down payments on anything. I rather pay just a bit more and keep access to my money. Use the down payment to supplement your payments if that situation arises.
Unless you fiancne then you should always put down as much as you can afford. Build equity faster, much lower monthlies, never have to worry about being upside down. If you're worried about locking up 5 or 10k you probably can't afford a new car.
Chris Wilson very good response, Chris. Down payment on a financed vehicle is all about building your equity faster like you said and keep a least amount of burden on your cashflow through relatively lower fixed costs on your cash budget. I totally agree if someone is really concerned about “locking” their $5 to $10K then they should rethink their decision to buy a brand new car.
U the best Ari please keep it up I wanted to lease a c43 sedan 60k with 7,500 miles a years a lot of dealer wanted $10,000 cash that’s with good credit but your video save me big time looking forward to doing business with you when the new m3 comes out
This video is gold. I plan on leasing in a few months when i actually figure out what vehicle i want lol. You will definitely hopefully help negotiate my deal. My question is how would you structure a good lease deal if you have a ton of negative equity in your trade in? I have heard the best way to combat negative equity would be to lease.
Never put anything down on a lease. That money is just a prepayment of the lease. It is a terrible idea. You shouldn’t be telling people to do anything but pay first months payment at inception. Roll everything else into the lease. It is bad advice to tell them to do anything else.
Good info. However, if the dealer says No and tells you they need 5% down plus acquisition fee, what should I tell them? It ends up being extra $1500. I feel like I should give him a reason to counter him. Thanks.
When you introduce yourself... You shouldn't say you're running a car "buying" service... because I suspect a lot of people lease and in that case your not buying s*** you are rentinh but I still love your channel!
These people are nuts then. I live indiana and they want $2,400 on a 2019 Honda Civic EX which MSRP is $24,320. Good to know I did not make that decision. You’ve been helping so much with my car leasing decisions
0 down, 0 drive off, not a penny out of pocket. That's the deal. It's a rental. What the heck is a "down payment" on a rental? You're basically just paying a big chunk of your rent upfront so you can reduce the subsequent monthly rental fees afterwards. It makes no sense to even call it a "down payment". It's more like an advance on overall rental cost. Would you pay a "down payment" on your initial overall apartment rent so you can pay less every month on rent? No. It's the same concept on leases. Of course, some dealers won't accept 0 drive off but some will. I found a few after shooting out 15 emails through the online services and just telling each one what I will accept.
Thanks for the info. I’m curious what ur thoughts are on my current lease. I leased a 2017 Charger sxt Rallye for 36 months with $0 out of pocket or any money down plus the dealer made my first payment. It’s with 15k miles per year. My payment with taxes and disability insurance included is $388 a month. Oh and the MSRP was $36,470.00. Thanks for any info.
Great advice and I agree 100%. I guess it’s same if car is stolen and not recovered or totaled . PS: I was getting withdrawals waiting for another video :)
Hi Ari, been talking to a dealer via email regarding a lease. This is what they told me - is this normal? "Just so you are aware, the only way to secure a vehicle and run credit is with the $500 deposit."
This is advice, albeit dated by no fault of the poster, is absolutely and purely based on whether you total your car and the insurance company agrees that it's unrepairable. That's it. If you never total your lease, and you put extra money down to lower the payment, I think the only way it works for you is if you decide to keep the car once the lease expires, otherwise, that extra down payment will get lost forever, because the residual is set, and current used car value frenzy isn't going to last forever and ever.
Went to lease a 2021 sonata wanted to put down 1,000 down and that’s it. Dealer kept insisting for more money. I said no and left. My credit score is in the 700’s. Dealers are predators and thieves.
I guess I don't understand putting ANY money down on a lease. If I have a 12 month lease on an apartment for $1000 a month, I don't put a down payment of $1200 on the first month just to have a $900 payment. The total will be the same in the end of the lease. You are paying for the use of the car, split up over X payments. (Cost of lease )/(number of months) (+ other fees, of course)
On an apartment, you don’t have the convenience of rolling in the fees (first, last, security) in your lease payment. In a lease you do, and that’s what I’m referring to. Not just additional cash down.
@@negotiationguides I'm good man . I never knew how that worked now that you're all famous hopefully you won't forget the little people lol . The car is doing great!! Everyday I drive I love it so much and see other cars trying to imagine what it would be like if I didn't pick this Jeep and I'm so glad you helped me on this! Best choice I ever made!!!
Great video .. Ari can u make a video for someone that doesn’t like their current lease and wants out and maybe wants to trade for another lease ? Thx in advance
But what about if you want your payments to be a certain amount. I have perfect credit but I always put down more than the minimum in order to have my payments where I want them to be. Is that wise?
Not the best move Devin because the money you’re putting down will be lost if the vehicle is totaled. Insurance will only cover the balance you have left.
I've never leased a car. I was considering it. Is the down payment for security and it comes back at the end of the deal? Thats what ive always been confused about.
Sounds like a deal I’ve done as well for a client. Can you see if they’ll do the deal with Chrysler or Ally though? They’re just better banks to deal with.
Sounds good to me except that it isnt 36 mos term but my credit last I checked was 651 fico auto score. I'm tier 2? Not a college grad or military or anything. Does Ari think I'd be nuts paying 5% on a lease for a 48K Sahara or rubicon like you described. I'd prefer 36 mos. Plus my Monthly would exceed the 1% rule. Probably be closer to 600 a month.
I have a trade that is worth $8,000. I will put no money down, but apply the trade equity ($8k) which lowers my monthly payment. If I don't apply the trade, my payments will be sky high.
This is good advice, however if I’m buying for example the 2020 GLS that’s coming in next month on the special order and the car is 94k and I want the lease around 1100 or less a month I have no problem putting down 5-7k
@@negotiationguides Thanks so much! I'm trying to negotiate with several dealers on a Hyundai palisade SEL with no packages just power sunroof and I am getting so many different prices and they're all over MSRP because apparently the Palisade "is selling to good right now." Thanks for all your help though Ari, I greatly appreciate it!
Had a dealer try charging me $2,500 down and $359/m for 36 months.... on a $0 down $159/m advertisement special. Keep in mind this is a regular Kia sedan and my FICO, income, DTI, etc is tip top shape. They didn't realize I work in finance. I do commercial lending and investments (securities). I basically told em go fuck themselves lmao. And at the end revealed that I've worked in corporate finance for over a decade. They will advertise $0 down $159/m and then you walk in and they shark bait your ass. They're absolute idiots. FYI this was a $26k sticker price cash off the lot vehicle. I told them to basically royally kiss my ass.
Thank you :) ... it’s not a crazy number to ask for, but at the same time, they won’t be crazy to say no. It’s a NET zero deal. It may take major persistence.
Well shit. I just leased a car but put down waaayyy too much. Mainly because I didn’t want to have a high monthly payment. Didn’t dealership wasn’t asking for much.
Please explain the “” hold back price for Subaru ascent 2019 Touring “”, Also what do you think of Costco price invoice minus the $2500.00 Costco discount from MSRP of $ 47, 459. is the invoice price,. Per sales man no more further discount from the invoice price since Costco gives only $ 2,500 - discount to their members for Subaru Ascent. How much money I have to put down to buy my SUBaru Ascent Touring ? How much more I can negotiate to lower the price in buying my Subaru Ascent?. Thank you 🙏 Ari for your kindness and time. Peace be with you.
Damn, then why GMC asking for $9200 down for 2021 Denali? So do I walk in and say no I want $0 down??? $3,900 down using your formula puts the lease at $900 a month.
What’s up Ari, love the channel. Going to try to lease a Jeep GC Altitude this weekend. Would it be smarter to just try to negotiate a zero down drive off, rather than giving them the ~5% down? And would it allow me to negotiate on price more, if I did actually put money down? Thanks!
I want a Lexus is 200t 2016/17 , around $20.000, I have $15.000 cash, should I get Lexus is 200t, Lexus nx 200t, accord 2.0, or Camry xse.? I like the new rav4 but way more expensive
Hi Ari. I am in the market for a 2020 MB GLB. The sales guy is offering me $4,250 due at signing 10k miles 36 months for $507 monthly taxes and fees included. I have tier 1 credit. I feel this is not a good deal. Can you share your thoughts please? I am in FL by the way.
Does it ever make sense to buy a vehicle early off of lease? I have a 2018 Toyota Tundra Platinum that I have decided I want to buy outright. The agreed upon residual value for the truck at the end of the lease is 28k. I have, I think, 10 more payments to pay. I wanted to know if there is any circumstance that would make it advantageous to me to buy the truck now. Thanks.
Need advice- What do you think about a 40k lease- 3k down, BUT also they will payoff current lease last two payments equaling $950 making monthly payment of appx $550 for 36 mts- Seems a little high to me over all- wish u were in my area!! Caught my interest but still feel weary.
One quick reference that I've always used is to take the MSRP of the car (take your $40) and simply multiply by .01. Obviously, in this case, that's $400. If you can negotiate a 'typical' lease (36mo./12k miles per year) for that amount or less, you've gotten a great deal. So, I would say, in general that $550/mo. for a $40k vehicle is too high. Unless you simply have your heart set on a particular vehicle, I would walk away. And it could be that the vehicle you're interested in just doesn't currently have a great residual, money factor and dealer isn't willing to discount. You need all 3, in my opinion, to get a great lease deal.
If I’m buying a 2019 Honda Civic, the 0.05 would be around $1,050. I’m a bit confused on if you meant that’s the full amount I should pay upfront as cash down with or without the fees? I live in FL which have a bit higher fees, if those fees come out to let’s say $1300 would I pay the total amount of $2,050? Or try to negotiate some of those fees down to the $1,050?
Hey Ari, do you think service packages are worth it when leasing a car? My monthly was 375 but after sitting with the financial guy they told me I need to get this service package which shot my payments to 465 a month.
CarlieeNova don’t do it, it’s a scam! You’re leasing a brand new car under warranty. You will not spend that much money on service, which you can go anywhere to do. 90 dollars difference times 12 is 1080 dollars a year which the dealership charges you. You’re leasing a new car for 3 years you are not going to need 1080 dollars worth of service, regardless of the vehicle you’re leasing.
$1 is too much down. Let’s say you total the car two months in. That money you put down is now total loss, no one gets that back. Insurance pays off the lease and the car, and you get into a new lease with a higher payment. If you put $0 down though, you do have a higher monthly payment but you only lost the two months of payments you made and you didn’t lose any money you put down since you didn’t put any down.
I love your videos I watch them all the time I’m looking at the KIA TELLURIDE SX AWD CAN YOU TELL ME HOW CAN I GET IT FOR $300 i was thinking to finance or lease but now your telling me if I lease I can loose my down payment HELP HELP HELP !!!!????
@Ari ... Would the monthly payment change(lower) the more money down you put on a lease? ... I'm making this comment in reference to my experience with the car brand website where after you build the car you want.. you could estimate monthly payments.
Your the best! great info
In my opinion, what confuses people is the word "down". So that 5% (just to use your number), is not a 'down payment'. It is, as you said, your 1st month's payment, as well as an acquisition fee, doc fee and reg. fee. So that has nothing to do with a 'down payment' as most people tend to think. Just me, but I prefer to say 'out of pocket' (or something like that). There are some leases that require no money at all "out of pocket". But, essentially, you're rolling that money in to the lease payment. But, conversely, you can have a 'no money down' lease and still have money due at signing.
I agree.. Phrases like out the door, and total cash due at start is the best verbiage in practice.
5% Is a down payment you're contradicting yourself
This is why I don't put down payments on anything. I rather pay just a bit more and keep access to my money. Use the down payment to supplement your payments if that situation arises.
100% !!
Unless you fiancne then you should always put down as much as you can afford. Build equity faster, much lower monthlies, never have to worry about being upside down. If you're worried about locking up 5 or 10k you probably can't afford a new car.
Chris Wilson very good response, Chris. Down payment on a financed vehicle is all about building your equity faster like you said and keep a least amount of burden on your cashflow through relatively lower fixed costs on your cash budget. I totally agree if someone is really concerned about “locking” their $5 to $10K then they should rethink their decision to buy a brand new car.
100 percent using ur business for my next lease !
Thank you Evrett :)
Ari not only giving us ideal lease deals, but also teaching us math with all these decimal multiplication 😂
😂😂😂😂
I’m sick to my stomach. I put down 5k on my lease. Never again
Same
U the best Ari please keep it up
I wanted to lease a c43 sedan 60k with 7,500 miles a years a lot of dealer wanted $10,000 cash that’s with good credit but your video save me big time looking forward to doing business with you when the new m3 comes out
100% Ted! Thank you very much and I’m happy the C43 video helped :)
Lol did you just swallow that cough drop at 4:38 ? Lol
🤗🤗🤗😂
This video is gold. I plan on leasing in a few months when i actually figure out what vehicle i want lol. You will definitely hopefully help negotiate my deal. My question is how would you structure a good lease deal if you have a ton of negative equity in your trade in? I have heard the best way to combat negative equity would be to lease.
Unfortunately, this is the only convenient solution besides paying it off and getting rid of it
Never put anything down on a lease. That money is just a prepayment of the lease. It is a terrible idea. You shouldn’t be telling people to do anything but pay first months payment at inception. Roll everything else into the lease. It is bad advice to tell them to do anything else.
Good info. However, if the dealer says No and tells you they need 5% down plus acquisition fee, what should I tell them? It ends up being extra $1500. I feel like I should give him a reason to counter him. Thanks.
Yo, this channel is dope.
THANK YOU!!
When you introduce yourself... You shouldn't say you're running a car "buying" service... because I suspect a lot of people lease and in that case your not buying s*** you are rentinh but I still love your channel!
These people are nuts then. I live indiana and they want $2,400 on a 2019 Honda Civic EX which MSRP is $24,320. Good to know I did not make that decision. You’ve been helping so much with my car leasing decisions
This is great advice as I wasn't thinking about that at all. Thanks
It’s my pleasure and thank you too
Wish you quick and full recovery. You are awesome. You have helped me and my friends. Thanks so much
But what if your credit is top tier? In my case BMW said I had to put down the full 5000 plus first month payment.
0 down, 0 drive off, not a penny out of pocket. That's the deal. It's a rental. What the heck is a "down payment" on a rental? You're basically just paying a big chunk of your rent upfront so you can reduce the subsequent monthly rental fees afterwards. It makes no sense to even call it a "down payment". It's more like an advance on overall rental cost.
Would you pay a "down payment" on your initial overall apartment rent so you can pay less every month on rent? No. It's the same concept on leases. Of course, some dealers won't accept 0 drive off but some will. I found a few after shooting out 15 emails through the online services and just telling each one what I will accept.
Thanks for the info. I’m curious what ur thoughts are on my current lease.
I leased a 2017 Charger sxt Rallye for 36 months with $0 out of pocket or any money down plus the dealer made my first payment. It’s with 15k miles per year. My payment with taxes and disability insurance included is $388 a month. Oh and the MSRP was $36,470.00. Thanks for any info.
Not bad
Yep not looking bad at all
With everything you said in this video does it still apply for those with credits of 600-695?
Hello, could we get an answer to Rolando’s question!
Walk in with a couple thousand in hand and you’ll get approved 👍🏻
It when I use this formula the monthly price of the lease is always too high. So I put down additional money to get my payments where I am comfortable
Great advice and I agree 100%. I guess it’s same if car is stolen and not recovered or totaled . PS: I was getting withdrawals waiting for another video :)
You’re the best Ted :) thank you!
Hi Ari, been talking to a dealer via email regarding a lease. This is what they told me - is this normal? "Just so you are aware, the only way to secure a vehicle and run credit is with the $500 deposit."
That is some scammy place
That's also why you always take the cash rather than the interest rate when purchasing.
This is advice, albeit dated by no fault of the poster, is absolutely and purely based on whether you total your car and the insurance company agrees that it's unrepairable. That's it.
If you never total your lease, and you put extra money down to lower the payment, I think the only way it works for you is if you decide to keep the car once the lease expires, otherwise, that extra down payment will get lost forever, because the residual is set, and current used car value frenzy isn't going to last forever and ever.
Good advice as always , keep up the videos
Thank you 🙏🏼
Thank you so much for this. I definitely got hosed on my moms Q5 ugh.
Don’t stress it Ken ... I’ve been there before
Man thanks for the info just a little feedback .. get to the point right away 👍🏻 for future reference
Can I apply this to financing a car as well?
Great collection of videos sir! Thanks for sharing your wisdom!
so on a 72k Porsche, $3.6k is the max. good to know
Went to lease a 2021 sonata wanted to put down 1,000 down and that’s it. Dealer kept insisting for more money. I said no and left. My credit score is in the 700’s. Dealers are predators and thieves.
I guess I don't understand putting ANY money down on a lease. If I have a 12 month lease on an apartment for $1000 a month, I don't put a down payment of $1200 on the first month just to have a $900 payment. The total will be the same in the end of the lease. You are paying for the use of the car, split up over X payments. (Cost of lease )/(number of months) (+ other fees, of course)
On an apartment, you don’t have the convenience of rolling in the fees (first, last, security) in your lease payment. In a lease you do, and that’s what I’m referring to. Not just additional cash down.
Right, im just talking about cash down. I dont get it.
You deserve at least 500k subs brother.
Thank you 🙏🏼
So when it comes to your ads do u get to pick what they put before your videos?
I can only pick if i want interest based ads to play or not as in based on your previous searches. I don’t really touch it tbh. How you doin Bryan?
@@negotiationguides I'm good man . I never knew how that worked now that you're all famous hopefully you won't forget the little people lol . The car is doing great!! Everyday I drive I love it so much and see other cars trying to imagine what it would be like if I didn't pick this Jeep and I'm so glad you helped me on this! Best choice I ever made!!!
@@BBAB24 LOL... so happy though bro.. literally makes me so happy to hear that.
Im getting a lease on 2020 lexus gx 460.
Im giving them $3999.00 down and $500 a month.
Is that a good deal ?
The Mrsp on that truck is $58000.
Shawn ladla I’m waiting on the answer with you!
Try using this calculator I found for leases: www.bankrate.com/calculators/auto/auto-lease-calculator.aspx
Why do you want to buy a truck
When you lease a car do you pay taxes up front or on the payment?
Depends on the state
Great video .. Ari can u make a video for someone that doesn’t like their current lease and wants out and maybe wants to trade for another lease ? Thx in advance
But what about if you want your payments to be a certain amount. I have perfect credit but I always put down more than the minimum in order to have my payments where I want them to be. Is that wise?
Not the best move Devin because the money you’re putting down will be lost if the vehicle is totaled. Insurance will only cover the balance you have left.
Ari Janessian but what if the vehicle is not totaled?
Ari can you make a video about these rules all together. .05 percent rule and more recently I think you had a 1% rule?
I've never leased a car. I was considering it. Is the down payment for security and it comes back at the end of the deal? Thats what ive always been confused about.
Thank you for the great info. You said this rule can be applied to any car for example a G wagon or a Ferrari
Getting 52k 2019 jeep wrangler unlimited rubicon. 499 monthly 42 months 1699 due at lease. How did I do? This is us bank lease
Sounds like a deal I’ve done as well for a client. Can you see if they’ll do the deal with Chrysler or Ally though? They’re just better banks to deal with.
@freakincrazy6932 - Just curious where in the country you’re located? I’m in Chicagoland and headed to a dealer Saturday to look into a Moab.
Sounds good to me except that it isnt 36 mos term but my credit last I checked was 651 fico auto score. I'm tier 2?
Not a college grad or military or anything.
Does Ari think I'd be nuts paying 5% on a lease for a 48K Sahara or rubicon like you described. I'd prefer 36 mos. Plus my Monthly would exceed the 1% rule. Probably be closer to 600 a month.
Curious about leasing a Gladiator pickup when it comes out.
hi ari i found ur channel good info when u say 5 % with MSRP tht included all the fees also
I have a trade that is worth $8,000. I will put no money down, but apply the trade equity ($8k) which lowers my monthly payment. If I don't apply the trade, my payments will be sky high.
This is good advice, however if I’m buying for example the 2020 GLS that’s coming in next month on the special order and the car is 94k and I want the lease around 1100 or less a month I have no problem putting down 5-7k
What about the $7500 fed tax credit in a lease agreement to lower the price. How do you calulate capital cost into interest
Fantastic advice
Nothing is too much as you pay the same total amount payable regardless of the deposit (in the UK anyway) simply down to budget
Can you do a one year lease
Hey buddy and what about Florida? How could be the process for leasing a car here?
Is down payment and due at signing the same thing.
Can we chat about car Leases and if I am trying to trade in my car
shoot me an email ari@bostonauto.net
Ari, I thought putting any money down on a lease was bad? If you’re putting money down, is it much better to do a security deposit vs a down payment?
Amazing video helped loads 👌🏼
Does the 5% of MSRP include all the dealer fees, tax, etc? Also, does it include the 1st months payment? Thanks for all your great info!
Yes.. 5% should be all inclusive
@@negotiationguides Thanks so much! I'm trying to negotiate with several dealers on a Hyundai palisade SEL with no packages just power sunroof and I am getting so many different prices and they're all over MSRP because apparently the Palisade "is selling to good right now." Thanks for all your help though Ari, I greatly appreciate it!
I’ve been watching your video you are Awesome
🙌🏻 thank you Carlos :)
Had a dealer try charging me $2,500 down and $359/m for 36 months.... on a $0 down $159/m advertisement special. Keep in mind this is a regular Kia sedan and my FICO, income, DTI, etc is tip top shape.
They didn't realize I work in finance. I do commercial lending and investments (securities). I basically told em go fuck themselves lmao. And at the end revealed that I've worked in corporate finance for over a decade.
They will advertise $0 down $159/m and then you walk in and they shark bait your ass. They're absolute idiots.
FYI this was a $26k sticker price cash off the lot vehicle. I told them to basically royally kiss my ass.
Why not roll everything but the first payment?
Is this true in California? Because the insurance said they put in the msrp car value...
Good to know! Thanks
Ari, if car is totaled dont you get made whole and get deposit back with Gap insurance?
Oh no that's just paying you back on depreciation losses?
GAP will only cover the remaining balance to the bank Joe.. You lose the down payment..
Never lease a vehicle
Do you do consultation.?
Great info thanks
Hope you feel better Ari. Do you think 13% off MSRP on Glc 300-2019 is it possible right now?
Thank you :) ... it’s not a crazy number to ask for, but at the same time, they won’t be crazy to say no. It’s a NET zero deal. It may take major persistence.
I like to keep my monthly payments low, is it ok to put more than 5% down to do that?
Well shit. I just leased a car but put down waaayyy too much. Mainly because I didn’t want to have a high monthly payment. Didn’t dealership wasn’t asking for much.
Please explain the “” hold back price for Subaru ascent 2019 Touring “”, Also what do you think of Costco price invoice minus the $2500.00 Costco discount from MSRP of $ 47, 459.
is the invoice price,. Per sales man no more further discount from the invoice price since Costco gives only $ 2,500 - discount to their members for Subaru Ascent. How much money I have to put down to buy my SUBaru Ascent Touring ? How much more I can negotiate to lower the price in buying my Subaru Ascent?. Thank you 🙏 Ari for your kindness and time. Peace be with you.
What would be a plan of attack to get me into a 2019 Golf R?
Scott, Golf Rs are tough cookies. If you can, try offering between 5-7% off and see what sort of initial responses you get..
What are your thoughts on that ? I test drove the R last week. Wow what a absolutely amazing car
what about when buy a car?
Damn, then why GMC asking for $9200 down for 2021 Denali? So do I walk in and say no I want $0 down??? $3,900 down using your formula puts the lease at $900 a month.
What’s up Ari, love the channel. Going to try to lease a Jeep GC Altitude this weekend. Would it be smarter to just try to negotiate a zero down drive off, rather than giving them the ~5% down? And would it allow me to negotiate on price more, if I did actually put money down? Thanks!
I’d say stick to your target payment with $0 due at start, bringing out more cash down as the bargaining tool.
What about BMW with a security deposit that you get back at end of lease?
I want a Lexus is 200t 2016/17 , around $20.000, I have $15.000 cash, should I get Lexus is 200t, Lexus nx 200t, accord 2.0, or Camry xse.? I like the new rav4 but way more expensive
Just lease a isf 350 AWD and invest your money in property or a business .
Have you heard of GAP INSURANCE?? Most car companies offer that free of charge!! Means they cover the amount that your insurance doesn’t!!
Great advice
Thank you :)
Hi Ari. I am in the market for a 2020 MB GLB. The sales guy is offering me $4,250 due at signing 10k miles 36 months for $507 monthly taxes and fees included. I have tier 1 credit. I feel this is not a good deal. Can you share your thoughts please? I am in FL by the way.
My question is if I put 2,000 down on a 40,000 msrp bmw 230i? Should that 2,000 cover all the dealer fees? But not the tax on the vehicle.?
what is the actual reason you suggest not putting more then 5%?
Does it ever make sense to buy a vehicle early off of lease? I have a 2018 Toyota Tundra Platinum that I have decided I want to buy outright. The agreed upon residual value for the truck at the end of the lease is 28k. I have, I think, 10 more payments to pay. I wanted to know if there is any circumstance that would make it advantageous to me to buy the truck now. Thanks.
Need advice- What do you think about a 40k lease- 3k down, BUT also they will payoff current lease last two payments equaling $950 making monthly payment of appx $550 for 36 mts- Seems a little high to me over all- wish u were in my area!! Caught my interest but still feel weary.
One quick reference that I've always used is to take the MSRP of the car (take your $40) and simply multiply by .01. Obviously, in this case, that's $400. If you can negotiate a 'typical' lease (36mo./12k miles per year) for that amount or less, you've gotten a great deal. So, I would say, in general that $550/mo. for a $40k vehicle is too high. Unless you simply have your heart set on a particular vehicle, I would walk away. And it could be that the vehicle you're interested in just doesn't currently have a great residual, money factor and dealer isn't willing to discount. You need all 3, in my opinion, to get a great lease deal.
David Speakman
Thank you Sir- great advice- Will use this. Have a great & safe spring/summer. I appreciate you taking the time for all that.
Great info I certainly don’t want to put another 7k down 😟
I leased a 2021 toyota tacoma 4 by 4 and put 1500 down and 400 month for 42 months i didn't negotiated as much. was i dragged into a bad hole?
Down payments are for purchasing something, not borrowing.
So 10k down on a 2021 bmx x6 is too much huh?
Would you do the same 0.5% down payment when financing?
Hi Ari, I love your videos. Where were you before I got sucked into this lease for 2019 Toyota Highlander? Ugh. I want out and it’s to soon. Help!!
I put down 9k on a bmw 440i convertible and 510 monthly payment.....
Great information 👍
If I’m buying a 2019 Honda Civic, the 0.05 would be around $1,050. I’m a bit confused on if you meant that’s the full amount I should pay upfront as cash down with or without the fees? I live in FL which have a bit higher fees, if those fees come out to let’s say $1300 would I pay the total amount of $2,050? Or try to negotiate some of those fees down to the $1,050?
Hey Ari, do you think service packages are worth it when leasing a car? My monthly was 375 but after sitting with the financial guy they told me I need to get this service package which shot my payments to 465 a month.
CarlieeNova don’t do it, it’s a scam! You’re leasing a brand new car under warranty. You will not spend that much money on service, which you can go anywhere to do. 90 dollars difference times 12 is 1080 dollars a year which the dealership charges you. You’re leasing a new car for 3 years you are not going to need 1080 dollars worth of service, regardless of the vehicle you’re leasing.
Andrei P. Dang, I already signed the papers.
Ari u da man👍🏾
Thank you :)
$1 is too much down. Let’s say you total the car two months in. That money you put down is now total loss, no one gets that back. Insurance pays off the lease and the car, and you get into a new lease with a higher payment. If you put $0 down though, you do have a higher monthly payment but you only lost the two months of payments you made and you didn’t lose any money you put down since you didn’t put any down.
I want to lease a 2020 Infiniti with $3,000 down and good credit for about $300 a month..don’t wanna pay anything higher than that. Is it possible?
Thank you very much for that information I’m learning a lot from you that’s why I subscribed you🙏🙏🙏
I love your videos I watch them all the time I’m looking at the KIA TELLURIDE SX AWD CAN YOU TELL ME HOW CAN I GET IT FOR $300 i was thinking to finance or lease but now your telling me if I lease I can loose my down payment HELP HELP HELP !!!!????
Frank Sparacino $300 is impossible. Good luck. That car is minim $500 a month
@Ari ... Would the monthly payment change(lower) the more money down you put on a lease?
... I'm making this comment in reference to my experience with the car brand website where after you build the car you want.. you could estimate monthly payments.
Damn! That is a great deal you got your mom! I wish I lived in Boston! 👍🏾👍🏾👍🏾!!!
Thank you,!!!!! Good video.
LOVE the video great help, LOVE LOVE LOVE the zinanishan on your left arm. Getze hayastan, Getze hay azki!
🇦🇲💪🏼