Do you have to pay a deposit to lease a car

Do you have to pay a deposit to lease a car? Your initial payment is essentially your deposit. As with thing such as mortgages, you pay a larger sum at the start of the contract to make your monthly payments lower. The total cost of the contract will be the same, but themore you put down in the initial payment the less you pay monthly.It should be noted that it’s technically not a payment, it’s a rental. This is because on a lease, you don’t have ownership. However, most people call it a payment and so that’s how we’ll refer to it in this article.

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When do I have to pay the initial payment?

It depends how you are going to pay for it.

If you are paying by debit card, then you will have to pay before. You won’t be given a delivery date until you make this payment. So, you will get a phone call saying your car is ready for delivery. It will be then that you make the payment and after that payment is made you will arrange for your car to be delivered.

If you are paying by bank transfer or direct debit, then the initial payment will be made after the car has been delivered. This can be any time from a week to ten days after your car has been delivered. However, every funder has its own rules so you should ask your advisor.