Cash Out on Lease?

[cdtotten]

Hi everyone. I am going to be leasing a 2010 Civic EX Sedan. I am going to trade in my car, which they appraised at $13,500 (owe $9800), leaving $3,700 in equity. According to the Honda website, this lease deal (30 months 12k miles) has $1,999 due at signing. Instead of applying the extra equity as a down payment, do I have the option to cash out the $1,700.

Would this be wise? 

They are quoting me about $225.00 a month for the lease with  this downpayment, but not sure how much it would go up without the full $3,700.

Thanks for any help... anyone happen to know the money factor on a 2010 civic ex sedan (w and w/out navi)?

[Anonymous]

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@cdtotten wrote:

Hi everyone. I am going to be leasing a 2010 Civic EX Sedan. I am going to trade in my car, which they appraised at $13,500 (owe $9800), leaving $3,700 in equity. According to the Honda website, this lease deal (30 months 12k miles) has $1,999 due at signing. Instead of applying the extra equity as a down payment, do I have the option to cash out the $1,700.

Would this be wise? 

They are quoting me about $225.00 a month for the lease with  this downpayment, but not sure how much it would go up without the full $3,700.

Thanks for any help... anyone happen to know the money factor on a 2010 civic ex sedan (w and w/out navi)?

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bold added for effect-

you can cash out what you want, but I am quite sure that the lease prices you have seen adsvertised do not take into account taxes, title, and fees, you probably need that money to make your way to the advertised payment.