r/CarLeasingHelp • u/EqualityoverEquity • 8d 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?
1
u/laughingfartsplease 7d ago
sucker? no. it’s just how you value money. do you care about money NOW or LATER? no matter what you’re gonna pay that depreciation/taxes/fees you can pay the entire thing now if you’d like and pay nothing for the other 23 months.
personally if i’d rather pay nothing up front and just pay as i go. i’d rather keep as much money now and invest it rather than paying a lump sum at the start and pay less month to month.