2007-01-26 13:56:04 · 3 answers · asked by ddysgurl 1 in Cars & Transportation ➔ Buying & Selling
A car lease payment is figured this way.
Find the price they are going to use as the value of the car now.(probably M.S.R.P.) and subtract what they figure the value of the car will be at the end of the lease (residual) This is the amount of money you are in effect renting the car for over the period of the lease. Now Subtract the downpayment and you will get the amount borrowed and subject to the interest rate .
Devide the amount borrowed by the number of months of the term of lease to get the monthly principle payment, figure out the total interest over the term (descending amount) and divide this sum by the number of months in the term to get the interest charge (average) per month. add taxes and that is your payment...Principle/month, interest average/month plus taxes.
2007-01-26 14:16:26 · answer #1 · answered by bob shark 7 · 0⤊ 0⤋
The projected worth of the vehicle at the end of the lease.
2007-01-26 22:01:36 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
Monthly payments depend on the down payment you make and the length of term.
2007-01-26 22:03:09 · answer #3 · answered by wheeler 5 · 0⤊ 0⤋