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Re: Residual and another lease question
Posted by keeton (more from keeton) on Sat, 12 Oct 2002 13:20:14
In Reply to: Residual and another lease question, Dennis, Sat, 12 Oct 2002 10:27:10
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The residual is stated in the lease terms and calculated as a percentage of MSRP (not final cap cost). While different lease companies may state different residuals, it is not negotiable. If you plan on buying the car at the end of the lease, go for a low residual. If you plan on turning the car in, a high residual would make for lower lease payments, all else being equal (lease rate, cap cost, fees).
Assuming that you know the lease rate, cap cost and residual, you should be able to compare terms. Other things that can inflate the cost of a lease are the fees - since this is not technically a loan, some of the credit protection laws do not apply. The common ones are: acquisition fee, which may be "folded" into the lease or made as a line item (typically $500 or so); some charge a disposition fee if you simply turn the car in (Saab's is $350); some may break the gap insurance as a separate cost.
Good luck with your shopping.
posted by 216.192.19...
Posts in this Thread:
- Residual and another lease question, Dennis, Sat, 12 Oct 2002 10:27:10
- Call for details......, Mike Lynch
, Sat, 12 Oct 2002 21:13:31 - This link should give you all the info you need., Goog, Sat, 12 Oct 2002 20:57:38
- I found this, Dennis, Sat, 12 Oct 2002 20:04:04
- Re: Residual and another lease question, keeton, Sat, 12 Oct 2002 13:20:14 <-- Viewing This Message
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