How is a lease payment calculated
How is a lease payment calculated.1.Learn the three main components of a lease payment. The first is depreciation, the reduction in the value of the car over the term of the lease. The second is financing, the amount that you pay for the use of the car. It is computed on the amount the leasing company invested to purchase it
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2.Shop smart. Choose a vehicle based on the amount it will depreciate rather than the sales price of the car. Your lease payment is dependent on how much your car depreciates during the lease period. Cars depreciate at different rates, and some models lose much more of their value than others in the first few years of use. When considering an car lease, shop for a vehicle focusing on the amount a vehicle will depreciate during the lease term rather than the initial sale value of the car.
How is a lease payment calculated
- If you are the lessor (or person who is leasing the car to someone else), you want to purchase the car that best retains its purchase price; that is, a car with a low depreciation.How is a lease payment calculated
3.Negotiate aggressively. Many people know they can negotiate on the sale price of a new car but think they have to pay the advertised price for a lease. Look for special offers from dealers and lease at a time of year when they want to reduce their inventory, such as when new models are arriving in September.
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