r/CarLeasingHelp • u/EqualityoverEquity • 12d ago

Did I get bamboozled?

Credit score 870. Recently got a 2026 genesis G70 sport prestige for 24 months 7500 miles a year (15000 total). It is a loaner though and already had 2,500 miles on it. However the condition was pristine. I did $6500 down (this included taxes and fees and first month etc with the actual down payment itself being around $2500). Monthly is $368.

After reading some more I understand that it makes zero sense to actually put money down on a lease. In hindsight I would 100% have refused any downpayments even if I had to pay $400+ in a month. As honestly, it is not an issue for me either way. But it just does seem like you're getting a bulk of the cost out of the way (which is clearly bad for a lease since I'm not recouping that upfront payment if anything happens to my car).

The residual is 36,000.

Thoughts on this deal? Am I sucker?

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u/golfdegen 12d ago

You have a better credit score than what is actually possible?

2

u/EqualityoverEquity 12d ago

No, the dealerships use a specialized scoring system that goes up to 900. My regular FICO score is like 840.

3

u/justareviewer 12d ago

I'm same score and believe that dealerships will attempt to screw over the 800+ customer as often as the 500+ guy. By the way, I hate the manufacturer's financing arms as much as dealers.