The Car Leasing and Buying Blog
Insights from our experience OF helping customers
get the right deal
Using the residual value is a good way of judging how much a car will cost you on a monthly basis because you know roughly the depreciation.
The money factor is a fancy word for the interest rate on a lease. To put the money factor in APR terms, you take the money factor of say, .00152, and multiply it by 2400, which equals 3.648. The number in APR terms, then, translates to 3.648%.
No one willingly pays more for something than they should. But in the world of leasing cars, that can be a hard figure to pinpoint. So what defines a good deal?
Leasing cars in America, while complicated and confusing for many, is a great way to keep car payments low, while keeping up with the rapidly improving technology of the modern era.
When you want to get yourself a new car, often the first question is, “Should I buy it or lease it?” There are pros and cons to both and it depends entirely on each person's individual needs and desires.
The typical car buying and leasing experience is a lot like this: You intend on spending “X” but wind up spending “X, Y, and Z!” The entire process takes hours, and after all that frustration, you're still wondering if you got a good deal.