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there are no stupid questions...
Posted by Jason (more from Jason) on Thu, 12 Sep 2002 03:04:14
In Reply to: Stupid question here..., Catherine, Wed, 11 Sep 2002 23:45:06
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Leasing is confusing, at best.
A higher residual value will give you a lower monthly lease payment.
What you're basically paying for in a lease is the depreciation, plus the interest on that amount. With a higher residual, there's less depreciation, and that's why your monthly lease payment is less too.
In comparing the 9-5 to the Acura, yes, the Acura has a higher residual value, but the interest rate (money factor) on their lease is probably much higher.
As for purchasing a car, it is almost always cheaper in the long run to buy it outright (cash, or by taking out a traditional car loan) rather than by doing a lease-then-purchase.
In the end, a lease-then-purchase will usually cost you at least a couple of thousand dollars more overall.
Of course, leasing has its advantages and disadvantages, as does purchasing via the traditional car loan. There are many factors to consider...
Jason
'02 Aero
posted by 24.46.48...
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