Should I put money down on a lease?

Generally no — if the car is totaled, you lose that down payment.

Are mileage limits real?

Yes — overage fees ($0.15–$0.30/mile) can be expensive.

Auto

Estimate monthly auto lease payments using money factor and residual value.

Vehicle MSRP

Negotiated Price

Down Payment

Residual Value %

Money Factor

Lease Term

$$\text{Monthly} \;=\; \frac{\text{Adj.Cap} - \text{Residual}}{\text{Months}} \;+\; (\text{Adj.Cap}+\text{Residual})\cdot\text{MF}$$

Where

Adj.Capadjusted capitalized cost

Residualend-of-lease value

Monthslease term

MFmoney factor (≈ APR/2400)