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What are some of the costs to consider when leasing a car?
Beginning Costs: first monthly payment; a refundable
security deposit or your last monthly payment; fees for
licenses, registration, and title; capitalized cost
reduction (like a down payment); an acquisition fee (also
called a processing or assignment fee); freight/destination
charges; and state and local taxes.
During the lease: monthly payment; any additional
taxes not included in the payment (sales, use, personal
property taxes); insurance premiums; maintenance and
inspection costs, and any fees for late payments.
End of lease: if you don't buy the vehicle, you may have to pay a fee for not buying the car as well as for excess miles and wear.
Brenda Procter, M.S., State Specialist &
Instructor
Personal Financial Planning, University of
Missouri-Extension
Last update: Sunday, April 23, 2006
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