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Question regarding trading in towards a lease..

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Old 07-06-2009, 02:39 PM
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Default Question regarding trading in towards a lease..

I've never leased before, only financed. I was curious when trading in a car that you own towards a car you want to lease, do you have to put this money towards a down payment? If I were to lease, I'd rather put nothing down and used the money from the trade in to pay the tax, title, first months payment, etc. Is this possible?
Old 07-06-2009, 03:45 PM
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Why not sell your car privately, and avoid being screwed by the dealer on the (f)lease? You will be money ahead, sometimes thousands. At the start of a lease, you do not pay the tax on the vehicle. You don't own it. That is the leasing companies duty. They will charge you for it over the life of the lease, plus the vig.
Old 07-06-2009, 04:24 PM
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Definitely sell it yourself. Used vehicles are in demand. My car sold in 4 days on Craigslist!
You'll have enough left to cover a few add ons too.
Old 07-06-2009, 06:56 PM
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Originally Posted by Moviela
Why not sell your car privately, and avoid being screwed by the dealer on the (f)lease? You will be money ahead, sometimes thousands. At the start of a lease, you do not pay the tax on the vehicle. You don't own it. That is the leasing companies duty. They will charge you for it over the life of the lease, plus the vig.
Some states are different. I believe Minnesota makes you pay upfront.
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