Dwn pymnt vs cap reduction vs drive offs vs inception.. - Saab NG900 & OG9-3 Bulletin Board - Saabnet.com
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Dwn pymnt vs cap reduction vs drive offs vs inception..
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Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Thu, 31 Oct 2002 19:02:13 Share Post by Email
In Reply to: 9-3SS Lease Question (long), Patrick, Wed, 30 Oct 2002 20:20:38
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fees. The check your write to get the car off the lot for any lease has a number of components.

Down Payment = Cap reduction - Reduces the cap cost
Tax on Down Payment or Cap Reduction - No tax on car, tax on the payment
or any down payment or cap reduction to lower the payment.
First Payment - Allways due upon signing/delivery. If you lease for 48
months, after your drive offs you'll have 47 more payments
Security Deposit - Payment including tax rounded up to nearest $25, can be
waived for well qualified lessees.
Local License - about 8/10% in California
Acquistion Fee - Leasing company up front fee for processing the lease,
usually $500-800ish, usually added to the cap cost or price, but
not always.
The above are also called inception fees.

So the term down payment in referring to a lease is very ambiguous. If you put zero down on a lease you still have techinically the First Payment, Security Deposit and License, at total of over $1,000 in your case.

Drive offs has come to mean the total of everything, down or cap reduction, sales tax on that, 1st, lic, deposit.

So if you put $6,500 down payment or cap reduction, there's sales tax on that, 1st, deposit and license too that pushes up the drive offs.

It's possible for the dealer to pay the normal drive offs in the cost of the car and for the customer to actually put zero cash or zero drive offs towards the lease.

But whatever you think you understand, the dealer will try and switch it around to their advantage. "Oh that's right I told you zero down, but your still have the drive offs or inceptions fees".

If you want to write a check for $6,500 to include get the car off the lot with a payment you can live with, that may only have $5,000 ish in down payment or cap reduction and the rest of it is normal inception fees.


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