You will look amazing in your new car! Take 60 seconds and request a FREE New Car Quote, to receive a list of the available shockingly low, new car leasing deals in in – …all from our exclusive database.
You will see true car deals you will NOT find anywhere else in -! You will find car payments for less than $200 monthly and in many cases, you have the option of $0 down payment.
- Get a No-Obligation, Fast & Simple FREE New Car Quote
- Price your new car lease online and find secret online auto lease offers in -!
- Fast, Easy. Simple. Shop for a car with confidence.
Top Five Lease Deals By Vehicle Type
| Compact Cars | Sedans/Station Wagons | Sedans (Large) | Sedans (Upscale) | Sedans (Luxury) |
|
• Audi S5 • Volkswagen Golf • Suzuki SX4 Crossover • Suzuki SX4 • Volkswagen Beetle |
• Mazda MAZDA6 • Honda Accord • Volkswagen CC • Suzuki Kizashi • Volkswagen Passat |
• Mercedes-Benz S-Class |
• Audi S5 • Mazda MX-5 Miata • BMW 3 Series • Hyundai Azera • Mercedes-Benz SLK-Class |
|
| Sports Cars | Minivans/SUVs (Small) | SUVs (Midsized) | SUVs (Large) | Trucks |
|
• BMW 3 Series • Porsche 911 |
• Ford E-Series Van • Mazda MAZDA5 • Ford Escape • Ford Transit Connect Van |
• Nissan Xterra |
7 Steps to Calculate the Actual Cost of a Lease
Leasing a new car or truck is a smart decision considering that when you lease a new automobile, you are only paying for the vehicle while you lease it. You pay only a fraction of the vehicle’s overall cost.
Step 1: Negotiate the price of the car (also known as the base capitalized cost) with your dealer. The price you and the dealer agree on will be used to determine the finance fee.
Step 2: Calculate the costs included in the lease, such as: bank fees, insurance, or an extended warranty. Add these to the base capitalization costs. Upfront sales tax will be financed with the lease.
Step 3: Deduct the down payment, credit from any trade-in, or rebate from the base capitalized cost. This will give you what is called the net capitalized cost.
Step 4: Find the residual value – what the vehicle will be worth at the end of the lease. The higher the residual value, the lower your lease. These values are set by companies.
Step 5: Get the money factor, this will determine lease finance charges and is set by companies or can be calculated by the formula shown below. It is a good idea to calculate it in advance (it is not shown in lease agreements) to avoid any surprises or being tricked into leasing a new car with a high money factor.
Step 6: Decide the term of your lease. The longer the lease term, the lower the monthly payments.
Step 7: Know the sales tax rate; this is determined by where you live. Some states require sales tax to be paid upfront while others include it in your monthly lease payments.
Total cost of lease = depreciation + finance (rent) charges + Total sales tax
Show Me the Money Factor
The money factor, also known as the lease factor, is how much you will pay in finance charges over the term of your lease. It is similar to the interest you pay on a loan and generally displayed as a very small number (ex. 0.00354). The higher the money factor on a particular vehicle, the more you’ll be paying for your lease. The money factor does not have to be disclosed in a lease, so it is a good idea to know how to calculate it for yourself.
Money Factor = Rent Charge / ((Net Capitalized Cost + Residual Value) *Term)
If your net capitalized cost is $25,695 rent charge is $2,873 and the residual lease value is $15,300 for a term of 48 months then the money factor would be:
0.00146 = $2,873 / (($25,695+$15,300)*48)
Cost of Lease vs. Cost of Purchase
Loans must be paid off. Because of the interest payments that also come with having a loan, in the end, you will be paying more for a car purchase than a lease. New car leasing generally has higher interest rates but your total lease payments will be less than the total loan payments for the same vehicle. If you don’t want to be paying off a car for years then leasing is the best option.
Importance of the Residual Value
The residual value of the car is what the vehicle will be worth at the end of your lease. It takes into account the depreciation the car undergoes while it is being leased. It is important to lease a vehicle with a high residual value because it will depreciate at a slower rate, leaving a higher value at the end of your lease period. Get your free new car leasing quote today and compare vehicles with a wide range of residual values.
