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Re: Lease terms negotiable?
Posted by DeanS [Email] (more from DeanS) on Mon, 27 Aug 2001 00:27:35
In Reply to: Lease terms negotiable?, John, Sun, 26 Aug 2001 21:22:47
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Most of the lease terms are negotiable. The cap cost is basically the purchase price so you want to negotiate that as low as possible. The money factor is the interest rate. I believe you multiply the money factor by 24 to get the interest rate. The residual is based on a percentage of the MSRP. For example the residual on a 36 month lease might be 48% of the MSRP. Your payment is made up of 2 parts the depreciation and the interest cost. The depreciation is the difference between the cap cost and the residual, so you want the lowest cap cost and the highest residual to get the lowest payments. Don't worry about the residual (if it is high) unless you plan to buy the car at the end of the lease. Even then I would try to renegotiate the buy out at teh end of the lease if the car is worth less than the residual or don't buy it. http://www.edmunds.com used to have a good section on leasing. Since they screwed there site all up I don't use it much any more but it might be worth looking. I don't put much faith in any of the infomation about cars or values anymore. I think they are an advertising tool for the manufacturers and not an objective place to get information. Just my 2 cent worth.
posted by 216.175.10...
Posts in this Thread:
- Lease terms negotiable?, John, Sun, 26 Aug 2001 21:22:47
- Re: Lease terms negotiable?, Bill McD, Wed, 29 Aug 2001 12:47:57
- $495 is the standard Ac. Fee & not negotiable, although..., brian@saabcenter.com, Mon, 27 Aug 2001 16:37:13
- Re: Lease terms negotiable?, DeanS, Mon, 27 Aug 2001 00:27:35 <-- Viewing This Message
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