So, I've never leased a car, and always owned my cars for 10 years or so.
It seems if I buy a MS for 90K, and finance it, I have to come up with 10% down, and pay the "registration & use/sales tax" fees (~$7200).
So, I need to come up with $16K. I'm then financing 81K over 72 months which comes to $1150-1200 per month.
I've seen other posts about leasing, where they come up with about half the down payment and lease payments around $750 per month. It wasn't clear if any of those fees included the registration and use/sales tax.
So, they're paying a LOT less, but what happens at the end of 3 years.
I get that they don't own the car, and ha ve paid ~$33K so far.
Do they get to buy the car at the end, and if so, would it simply be the $90K + 7.2K - $33K = 63K price.
Or does "fair market value" come into play when they are at the end of the lease, and you can aruge that the car is now only worth $50K and purchase it based on that?
Sorry, never leased, and don't know the answer...
It seems if I buy a MS for 90K, and finance it, I have to come up with 10% down, and pay the "registration & use/sales tax" fees (~$7200).
So, I need to come up with $16K. I'm then financing 81K over 72 months which comes to $1150-1200 per month.
I've seen other posts about leasing, where they come up with about half the down payment and lease payments around $750 per month. It wasn't clear if any of those fees included the registration and use/sales tax.
So, they're paying a LOT less, but what happens at the end of 3 years.
I get that they don't own the car, and ha ve paid ~$33K so far.
Do they get to buy the car at the end, and if so, would it simply be the $90K + 7.2K - $33K = 63K price.
Or does "fair market value" come into play when they are at the end of the lease, and you can aruge that the car is now only worth $50K and purchase it based on that?
Sorry, never leased, and don't know the answer...