When is lease payment due?

My salesman is out of the office today. I forgot to ask him when to pay my first official lease payment on my car. I paid the first one with the downpayment so does this mean my second one is due 30 days from signing or do I pay in 60 days. I am unsure if you pay the lease payment before the month. Thanks!

Your next payment will be due in 30 days. Lease payments work the opposite of a purchase. When you buy a car, they send you a statement in the mail and you make your first payment after you have had the car for a few weeks.

When you lease a car, they collect your first months payment when you sign the paperwork. So technically if you have a 36 month lease, you only have 35 payments left. I hope this helps.

Leases are different than loans in that you make payments at the beginning of a payment period instead of at the end of a payment period. That's why your first month's payment is collected at the time you lease. The next payment will be due exactly one month later, at the beginning of the second month. At the end of your lease, you'll make your final payment and then continue to drive your car for one month.

Good question. Lease payments are always paid upfront on the day you sign your lease agreement, just as you did, and fall on the prearranged Lease agreement date, usually a set date each month but always at least 30 days until your SECOND payment. So, you are due for your SECOND payment according to the Lease agreement predetermined monthly date.

Best to you, Chuck Norlin-America's Car guy
30 years/thousands of car deals
http://www.thebestdealofyourlife.com

Every 30 days but don't be late.