Leases come with a variety of costs on the front end, during the lease term, and when the lease is ending.
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:
- disposition (end of lease) fee;
- possible fees for excess mileage and/or excess wear and tear.
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