Quote:
Originally Posted by Zipper 104
Close, but I think you pay interest on the residual amount over the lease's term and it becomes part of the monthly payment. Only the down payment reduces the amount of the interest you pay over the term.
Someone has to pay interest on the residual amount and it sure isn't the dealer.
104
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I don't think so. I've done a lease before with it all paid up front. I saved money since there was no interest for the 36 months only. The next guy buying the car or you buying out the loan should pay whats owed after the lease has ended.
OP that seems a little high, things change though. My 13 msrp was $36,600 for a sport. I put $1000 down but had $800 negative equity roll over. Got $1000 rebate for the lease and pay $409 for 38 months. My residual is $21k. Keep negotiating.