If you’ve spent some time shopping for a car, chances are you have encountered lease deals advertised as zero money down. For some, this might sound too good to be true, but is it really? Well, zero-down leases are legitimate deals provided by many companies out there including Capital Motor Cars. Even though they do not qualify as money-saving magic tricks, the go a long way in making sure you finance a lease easily. In this post, we will take you through some of the most notable things you need to know about ‘zero-down lease.’
What Do You Pay for in a Lease?
Any person who has had the chance to negotiate for a car lease will attest to the fact that it is not an easy undertaking. This is mostly the case when it comes to understanding the different terminologies and calculations. For this reason, may end up getting lost while negotiating a car lease. Before going into any lease contract, you need to be fully aware of what you’re signing up for. Some of the things you need to factor in include depreciation, fees, interest, taxes and down payment. Fortunately, the internet will prove beneficial in this regard thus making sure you get every piece of information you need.
What is ‘Zero-Down’ All About?
A zero-down lease simply implies you do not have to make do with a down payment. This does not mean you should show up without having anything in your pockets. Remember, the down payment is only but a fraction of what you have to pay for in a car lease. So, you’ll still have to pay something even after opting for a zero-down lease. Some of the payments you have to make do with include first month’s payment, taxes, document fees, license and registration fees.
Why is a Zero-Down Lease Important?
We can never conclude without talking about the benefits of a zero-down lease. After all, you need to be fully aware of what you’re signing up for. First and foremost, you get to pay less money upfront considering there is no down payment. This could actually be the difference between borrowing more money to start your lease and filling monthly payments as you proceed. If this is not enough, you get to pay taxes at a slower rate. Of course the taxes will add up over time just as you will eventually clear the down payment within your monthly payments.
There you have it, what you need to know about ‘zero-down lease.’ For those who are in dire need of 0 down auto leasing for VIP’s, it is highly advisable that you consult with a reputable and licensed auto lease dealers regarding the deals available. Keep in mind the monthly lease payment may be more without a down-payment when compared to putting some cash up-front. Hopefully, this guide will come in handy thus making sure you make a well-informed without going through a lot.