Using Lease Calculators
Want to calculate your monthly lease payment? Consider using a lease calculator
If you are considering a car lease, then you might want to know some key figures involved in the deal: the monthly lease payments, the overall cost of the lease and how much savings can be made compared to purchasing the vehicle.
A lease calculator relieves you from the stress of having to know the complex underlying lease formulae used in calculations. You simply plug a number of figures into the calculator and hey presto! You get a detailed rundown of detailed payments, taxes and total lease costs. Figures you need to get from your dealer about a specific lease you’re interested in include: capitalized cost, estimated residual value at the end of the lease, the number of months in your lease and the money factor. Make assumptions and change some of the figures to see how it affects your lease payments. For instance, residual value is an “estimated” value of what the vehicle will be worth at the end of the lease. You can input different estimates to cover different scenarios and assumptions.
As a final note of caution, bear in mind that lease calculators only do calculations and check the accuracy of abstract mathematical formulae. They do not tell you whether a lease is good or bad.
Auto Leasing
Buy A Car At The End Of Your Lease
Auto Leasing
... Unlike buying, it gives you the option of not having to fork out the down payment upfront, leaving you to pay a lower money factor that is generally similar to the interest rate on a financing loan. However, these benefits have a price: terminating a lease early or defaulting on your monthly lease payments ...
... dealer for a manufacturer-sponsored certification program or have your car certified by a qualified mechanic or inspection service. Most used-car deals don t come with gap coverage. This is a special type of coverage, normally offered on a new auto-lease, to cover the consumer if the leased vehicle is ...
... five years or more, making the payments even lower. There are two catches with such lengthy contracts: higher mileage, exceeding the prescribed limit, and hefty repair costs. With leases charging on average 10 to 20 cents a mile for any extra mile over the agreed amount in the contract, and warranties ...
... are also required to pay an administrative charge, called acquisition fee. Other fees include licenses, registration, title and any state or local taxes. During your lease, and you expected to honour your monthly payment obligations. Any failure to do so will result in late-payment charges. You have to ...
Go Green And Save On Your Lease
... 2005. The trend is rapidly catching with the auto-leasing industry with generous tax credits and incentives on offer if you go green. Beginning in 2006, businesses and taxpayers who lease, or purchase, an environmentally-friendly and fuel-efficient vehicle will be eligible to claim federal income tax ...