Car Lease No Money Down? Is it done?

[SupaWmn41]

One more question @4sallypat  Do you know how I would locate the base MF you spoke of? My research hasn't reached that level yet still finding my way! 

[buildingcreditfromnothing]

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@SupaWmn41 wrote:

One more question @4sallypat  Do you know how I would locate the base MF you spoke of? My research hasn't reached that level yet still finding my way! 

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Go to the Edmunds leasing forums. You can usually find it by searching for the year, make & model plus "RV MF" into Google. For example, "2021 BMW 7 series RV MF" brings up the Edmunds lease forum for that particular car.

Sign up for an account and ask the mods what the RV and MF is for your particular ZIP code, term (i.e. 36 months), mileage allotment, and trim of car. They are very helpful there. 

[4sallypat]

To find the base MF for your car lease I use 3 sources:

1. LeaseHackr.com users report back with base MF, incentives, rebates, local regional discounts, and if there are any MSD available.

2. Edmunds.com has a lease forum where you can ask the moderators about your specific lease and they will provide base MF.

3. User forums such as Bimmerfest.com or other messaging forums for lease experiences, rates, etc...

Remember, base MF is reserved for only Tier 1 and 1+ customers with higher credit scores.

The lower the tier, the higher the MF.

Also, the dealer can mark up the MF for extra profit so it pays to know what your tier and base MF before starting negotiations.

Multiple Security Deposit are payments given to the leasing bank to lower the MF - most manufacturers have it, some don't.

I used to use MSD to further reduce MF and lower payments.

At the end of the lease I would get the MSD back.

Never EVER let the dealer make you put a down payment -you will never see that money again.

And confirm they do not convert MSD into down - a very popular way to change your MSD request into down payment (CCR) at the time of signing.

[Wavester64]

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@Anonymous wrote:

$0 down lease is definitely doable. I frequent Leasehackr as well, and most of the leasehackr forums end up leasing with $0 down. Don't confuse zero down with zero due at signing. 1st payment is due at signing and many members on leasehackr choose to pay TTL and fees upfront. The past 2 vehicles I have leased have been $0 down and only first payment due at signing.

Leasing is far more nuanced than financing, so just make sure to thoroughly research before signing. Also, if you are shopping at a small dealership you may have trouble finding a salesperson or finance manager that knows anything about leases. This could work in your favor, or could rapidly hault negotiations.

Best of luck!

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@Anonymous , I see the questions that are asked on Leasehackr concerning Lease #s, but I wouldn't know how to plug those #s to know what I should expect for a lease price for a vehicle. I want to see about leasing a fully loaded Toyota Corolla Hatchback XSE, configured on Toyota.com shows MSRP to be ~ $28K. 3-years, 12K miles per year. No money down. I would guess I am Tier 1.

[Anonymous]

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@Wavester64 wrote:

@Anonymous , I see the questions that are asked on Leasehackr concerning Lease #s, but I wouldn't know how to plug those #s to know what I should expect for a lease price for a vehicle. I want to see about leasing a fully loaded Toyota Corolla Hatchback XSE, configured on Toyota.com shows MSRP to be ~ $28K. 3-years, 12K miles per year. No money down. I would guess I am Tier 1.

Here is a link to a sample calculator using the MF and RV numbers provided to a request for XSE numbers in Ohio:

You would want to get the MF and RV for your area (best way is to ask for it in the Edmunds lease forum for the 2021 Corolla) and replace those numbers in the calculator, if they are different. Sale price is going to be whatever you can negotiate the dealer down to. Taxed Incentives are any rebates available (you can ask for these on the Edmunds forum as well). Then the Government fees and Dealer fees are going to vary from state to state. You also need to mark the appropriate tax calculation for your state.