Question

Not budget related but.  does your down payment on lease go onto your next car?Not budget related but. does your down payment on lease go onto your next car? (Or like a percentage of it) or do you just lose it all?  I would also like to ask. the additional accessories you added to the car from the day you sign the papers, do you get to keep them? For ex: I paid extra for wheel lock and trunk cargo tray. Or do I have to return them with the vehicle?  

Answer 1

I’ve leased a handful of vehicles. I put a down payment on the first one then after that didn’t have to pay anything. I became a “Nissan member” for basically staying with them so I just show up and drop off my car and get another one.  

Comments

@howze I’m leasing my vehicle (lease is up in one month) with Honda and put a down payment of like I think it was $5k? I’m planning to buy my next car with Honda finance. I put the $5k down at that time because people were telling me a portion of it goes into your next car? But that didn’t seem to be the case when I was talking to someone from honda.  What do you mean by “you didn’t have to pay anything”?  

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@popeyed I would always trade my car in and get a new lease. I’m buying my current vehicle in a couple months for the residual value since that’s what they offer to you when you purchase it.  

Answer 2

Down payment isn’t necessary it just can be a factor in your monthly payment but if your credit is good it isn’t needed realistically. But you don’t get to apply the same down payment twicez

Answer 3

Your down payment doesn’t go toward the next one unless they have a special incentive program.  

Answer 4

Leasing is like renting. All the money is going down the disposal and you walk away with nothing to show for it. Some people love leasing if they like to upgrade cars every 2-3 years. But if your overall goal is to end up debt free with minimal bills then you want to finance to eventually own your car. Some manufacturers allow you to lease and then finance the vehicle after the lease is up. This is good for people that want to makes sure they really like the car first but also usually leasing payments are lower than financed monthly payments. When you put a downpayment on a lease it’s to get you to a monthly payment you desire. That’s all it does. The reason people like leases is cause at the end of the term you hand over keys and walk away clean and get your next brand new car and don’t worry about negative equality and stuff.