Monthly payment method of understanding understandable Lease easy
In order to make informed decision making. But most of us
Leaving it to the dealer, "learning" complex "mathematics on our lease contract
Do the payment method.
Actually, it's not that difficult! If you understand all numbers
It involves in your monthly payment calculation, everything else falls to
Put the following key figures in place:
MSRP (stands for manufacturer suggested retail price): This is a list
Price price of car or window stickers.
Money Factor: This will determine your lease interest rate. To argue
Before entering the interest rate of the dealer's disclosure, it is essential to the lease contract.
Lease Term: Number of months the dealer rents the vehicle.
Residual value: the value of the vehicle at the end of the lease. Also! ,
This number is available from the dealer.
Let us now calculate the sample We lease payment based on vehicle
MSRP (sticker price) $ 25,000 value and 0.0034 money factor (this is
Usually quoted as 3.4%). The planned lease contract is in 3 years,
The estimated remaining percentage is 55%.
The first step is to calculate the residual value of the car. you are
MSRP by remaining percentage:
$ 20,000 55 = $ 11,000.
As the car is worth $ 13,750 at the end of the lease, you are:
$ 20,000 - $ 11,000 = $ 9,000
This amount of $ 9,000 will be used for the 36-month lease period giving us a
Monthly payment of:
$ 9,000 / 36 = $ 250.
This is the first part of the monthly payment.
Depreciation expenses.
The second part of the monthly payment is called payment of money factors,
Factor interest. It is calculated by adding MSRP diagram to
Multiplying this by the money factor:
($ 20,000 + $ 11,000) * 0.0034 = $ 105.4
Finally, two figures plus approximate monthly payment amount
together:
$ 250 + $ 105.4 = $ 355.4
In summary, the sample expression looks like this:
1 Depreciation and amortization per month:
MSRP X Depreciation rate = salvage value
MSRP - residual value = depreciation over the lease term
Depreciation / lease period over the lease term (number of months of lease period) =
Monthly Depreciation
2-monthly factor money charge
(MSRP + Residual Value) X Money Factor = Money Factor Payment
3-sample monthly payment:
Depreciation + Money Factor Payment = Monthly Payment
Please note that this is a simplified calculation.
Account taxes, fees, rebates and other incentives. According to calculation
What is your lease payment staircase figure for you and a rough idea
There should be a problem vehicle.
Twitchy knick.
How to avoid extra cost at the end of your lease
$ 250 to dispose of your car, $ 1000 for extra miles you put a watch
And replace worn tire lease agent with light bulb $ 200
Consumer nick-and-dime consumers constantly when their lease contract is gone.
Here we can outline the possibility of causing these fees and take some measures
It's self-defense.
Disposal Fee: If you choose not to purchase, the leasing company charges you
Vehicle at the end of your lease. This fee is set as compensation for
Cost of sales, or other vehicle disposition. It is normal
Cost for preparing a car for a dealer
Resale and other penalties. This fee,
The contract is pleasant by you before signing with a dotted line. so
At the dealer as a position negotiation that is not left until the end of the lease, apply
A refund deposit for this charge.
Ultra mileage charge: Nearly all recruitment situation Premium of company
We will create a contract so as to describe the number of miles you agreed for each mile. this is
You can add up to 25 cents mile which can be abolished. To
Avoid the danger of moving a lot of extra milage punishment dollars
At the end of your lease, always check on your "miles" charges
Being realistic about your mileage before signing a contract.
Given your commuting needs, if you think the limits are unrealistic,
Hire a dealer to negotiate a high exchange or subscribe for a friend
Additional miles.
Extra breakage and wear charge: another potential cost at the end of
Leasing is accidental damage done to the vehicle during the lease term. this is
I have considered extra damage that is caused by normal breakage and wear of the car.
Please note the use of the terms "deemed", "excess" and "normal". There is none
Standard expression for defining what "over" and "normal" are
For lease companies to evaluate - or think - to injure and decide what
They are trying to charge. This will leave you at the mercy of vices.
Leasing agent who puts strict corruption and wear standards. I will.
Please read and understand the explanation of these standards and agree with it.
If your leased vehicle is damaged before the end of the lease, you may
Rather than paying excessive fee, you find cheap to repair yourself yourself
Lease agent's. In the event that disputes concerning charges occurred last
Please obtain an independent third party to make a professional evaluation of your lease agreement
Detailed amount or amount necessary for repairing damaged parts
Which corruption and wear reduces the value of the car.
PPPPPP
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