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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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