![]() The down payment is still taxable however, so check how that affects the monthly payments so you can see if it saves or costs you any money. ![]() If you have the money up front and want to get that much out of the way for the future, it can be a viable option. Usually a down payment is just divided by the number of months in the lease which then lowers the monthly payments by around that amount. However, this does not necessarily save you any money in the long run. The bigger the down payment, the lower your monthly payments will be. Some leasing companies will ask for you to make down payment towards the lease that will also lower your lease payments. Can I Make a Down Payment or Trade-In My Old Vehicle? The easiest way to do this is to buy vehicle brands and models that depreciate less than average. Useful Tip! If you want to pay less in monthly payments, you should find ways to cut depreciation costs. Other factors that are considered include reliability, the cost and frequency of repairs and parts, fuel economy, size, condition, mileage, consumer trends in desirability, and so on. They are both set using historical data of previous versions of the same model as well as forecasting future trends. It is important to keep in mind that the Residual Value and Depreciation are determined before you actually lease the vehicle, not after the lease is over.
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