Re: Thinking of paying off lease 2 years early
Also, I believe if you were to (god forbid) total your car tomorrow or it is stolen, your insurance would pay the depreciated value of the car. If that is less than what is owed, most leases have some form of "gap insurance" to cover that delta, so you simply walk away and get a new lease.
If you prepay the lease now and it is somehow destroyed or lost, I don't think the insurance co will reimburse you for that $21k. For that reason it often makes no sense to put any down payment on a leased car at all, rather roll as much as you can into the monthly payments, assuming interest rates are reasonable.
2007 CS Atlas/Gray (his)
Mods: Clear corners, short shift kit, RemoteKey, Borla catback exhaust, Black OZ Alleggeritas, Softronic SRP
Also in driveway: 2010 BMW 328i xDrive (hers), 2006 Odyssey EXL-RN (ours)