BMW lease

YOU THOUGHT THAT $0 DOWN MEANT NO MONEY DUE AT SIGNING? THINK AGAIN


A lot of people think "zero down" means that they owe $0 at the time of the signing and that's not the case.

Down payment is the amount you pay upfront in order to reduce the amount financed over the course of a lease. Yes, zero down payment leases do exist but there are fees and other expenses to be paid before you drive off the lot in your new BMW:
  • Document fees
  • Taxes 
  • License and registration 
  • First month's payment
As you can see, before you get the keys to your new or pre-owned BMW you'll have to pay between a few hundred and a few thousand dollars. If, however, you insist on a $0 drive-off lease, the above-mentioned fees can be rolled into the monthly payments.

Read the fine print carefully

In case you were wondering, there's no standardized way of advertising leases. For that reason, terms like drive-offs, down payment, down and due at signing are used interchangeably and here's the kicker - sometimes they refer to different things.

For example, sometimes taxes and fees are included at signing and sometimes they are not. That's why to be able to compare apples to apples you need to ask the dealer to confirm that the amount you're quoted includes all applicable taxes and fees. Just remember to provide them with your zip code since sales tax depends on the area.
Here are a few examples of how lease offers use fine print to mask the real cost

Ford Mustang Lease Ad

Offer: $259 a month for a new Mustang

Fine print: "36-month lease with $3009 due at sign. Includes first month's payment and $0 security deposit. 10,500 miles per year. Plus, tax, title, license and doc fee. With approved credit. Offer ends 2/28/19.

This ad from a Chicagoland Ford dealer includes $3009 due at signing. However, after taxes, title, license and documents fee the actual drive-off will be much more.

Alfa Romeo ad from a dealer in California

Offer: $0 down on a new Alfa Romeo

Fine print: "Low mileage lease for well-qualified lessees. Lease a 2019 Alfa Romeo Stelvio RWD for $389 for 36 months or Stelvio TI Sport AWD for $499 for 36 months. $0 down plus Bank acquisition fee, tax, title, license & first payment due at signing."

At first glance, you might expect to lease this Alfa Romeo with $0 out of pocket and $399 per month thereafter. Reading the fine print, though, you'll see that you'll be charged a bank acquisition fee, tax, title, license and first payment before you get the keys.

Now you see how important is to keep these things in mind when you're out comparing lease offers from different dealers. Why is that significant? Because something that looks like a fantastic offer might not look so good after adding all those additional fees and taxes.

>> For All Your BMW Lease-Related Questions Call (570) 338-6955 to Speak with One of Our Experienced Lease Specialists <<

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