What are your lease terms?

[turbo2ltr]

I am getting page or doc not available ...

fixed

[LakeLeaf]

Has anyone seen if you can lower the total lease payments and by how much if you pre-pay the lease? Is that something that a dealer would do, or does it go to the leasing company to make a decision? Writing off the lease in one year as a business expense might just be enough to drop into a lower tax bracket and net some real savings.

[LEAFer]

I am getting page or doc not available ...

fixed

Interesting spreadsheet. Allows me to duplicate Omkar's payment to the dime if I put the right figures in for MSRP and #months/miles. Except that it looks like the spreadsheet has the Doc Fee and the BankFee moved around a little ... and Omkar's DMV fee is higher ... and his MSRP seems to include the $820 Destination Fee.

[omkar]

Has anyone seen if you can lower the total lease payments and by how much if you pre-pay the lease? Is that something that a dealer would do, or does it go to the leasing company to make a decision? Writing off the lease in one year as a business expense might just be enough to drop into a lower tax bracket and net some real savings.

Here's a page I found via Google on prepaying a lease:
http://www.leaseguide.com/sn/prepaid-lease.htm

One disadvantage mentioned there (as well as in this forum):

If your car should be stolen or destroyed in an accident, your insurance would pay only the current market value of the vehicle, not the total amount you have invested in your lease. You would stand to lose a large chunk of your up front cash payment, the same loss you would incur if you had paid cash for your car.

[omkar]

Interesting spreadsheet. Allows me to duplicate Omkar's payment to the dime if I put the right figures in for MSRP and #months/miles. Except that it looks like the spreadsheet has the Doc Fee and the BankFee moved around a little ... and Omkar's DMV fee is higher ... and his MSRP seems to include the $820 Destination Fee.

Very cool! Things make more sense now

[LakeLeaf]

Thanks omkar

[Train]

If your car should be stolen or destroyed in an accident, your insurance would pay only the current market value of the vehicle, not the total amount you have invested in your lease. You would stand to lose a large chunk of your up front cash payment, the same loss you would incur if you had paid cash for your car.

You can usually purchase what is the equivalent to GAP insurance through your insurance agent. It's just a couple dollars a month and would cover any shortage of the actual cash value of the vehicle.

It's far cheaper this way then through the GAP coverage they offer at the dealership.

[LEAFer]

If your car should be stolen or destroyed in an accident, your insurance would pay only the current market value of the vehicle, not the total amount you have invested in your lease. You would stand to lose a large chunk of your up front cash payment, the same loss you would incur if you had paid cash for your car.

You can usually purchase what is the equivalent to GAP insurance through your insurance agent. It's just a couple dollars a month and would cover any shortage of the actual cash value of the vehicle.

It's far cheaper this way then through the GAP coverage they offer at the dealership.

Good question. Is the GAP automatically included at the dealer with the lease. I think it is. But that would mean it's mandatory and you would not really have a choice in providers for the GAP insurance. And that leads to the question ... WHERE is it included ? Via the MoneyFactor ? Or in the depreciation percentages ? And how much is it (in terms of % of the monthly payment) ?

[evnow]

Good question. Is the GAP automatically included at the dealer with the lease. I think it is. But that would mean it's mandatory and you would not really have a choice in providers for the GAP insurance. And that leads to the question ... WHERE is it included ? Via the MoneyFactor ? Or in the depreciation percentages ? And how much is it (in terms of % of the monthly payment) ?

I thought it was included in acquisition cost ... ?

[LEAFer]

Good question. Is the GAP automatically included at the dealer with the lease. I think it is. But that would mean it's mandatory and you would not really have a choice in providers for the GAP insurance. And that leads to the question ... WHERE is it included ? Via the MoneyFactor ? Or in the depreciation percentages ? And how much is it (in terms of % of the monthly payment) ?

I thought it was included in acquisition cost ... ?

Could be. Any DEALER able to chime in here ?