Quote:
Originally Posted by jeeter
dagolfpro is correct, you never want to put cash down on a lease. This is because you won't get that money back if the car is totaled. Think of it like this. You put down $7200 as a capital reduction. That is roughly $200 a month for you 36 month lease and your monthly payment is lowered by that much. You are basically prepaying $200 a month for your lease. Now imagine your car gets totaled four months into your lease. Your insurance company should pay off the remainder of the lease but will not pay you back the $200 you prepaid for the remaining 32 months of your lease. You are just out that money.
Now, the MSD = Multiple Security Deposit is a nice deal. It lowers the MF .00007 for each security deposit you make in advance at lease signing, up to 7 payments. If you make all 7, your MF is lowered by .00049. That does help lower the payment. Also, since these are secuity deposits you get them back at the end of the lease, even if the lease ends early because the car was totaled.
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I really appreciate your input! Thank you, I had no idea about MSD.. Thats why I came to the forum!
