Given below are lease terms at the local dealership. What is the total cash due at signing? Terms: Length of lease = 24 months M
SRP of the car = $29,500 Purchase value of the car after lease = $19,500 Down payment = $3300 Monthly payment = $475 Security deposit = $475 Acquisition fee = $500
To get the cash due at signing, we just add up the following quantities: - Down payment = <span>$3300 </span>- First Monthly payment<span> = $475 - </span>Security deposit = <span>$475 </span>- <span>Acquisition fee = $500
Hence the total cash due at signing is calculated as follows: