What are the initial leasing costs?
• Security deposit • A security deposit for a vehicle is similar to a security deposit on an apartment. • A security deposit for a vehicle is similar to a security deposit on an apartment. • Your security deposit could be used by the lessor to cover past due payments, damage to the vehicle, excessive mileage, or an end of the lease payment. If you do not owe the lessor money at the end of the lease, the lessor is required to return the entire security deposit to you. • First and Last Lease Payments • Capitalized Cost Reduction • Instead of making a down payment, as if you were buying a car, you may wish to make an initial payment called a capitalized cost reduction. • Instead of making a down payment, as if you were buying a car, you may wish to make an initial payment called a capitalized cost reduction. • The more you pay down up-front, the lower your periodic payment will be. • As an alternative to making a capital reduction outright, the lessor may allow you to trade in a vehicle y
