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Smart Shopper How Do I Calculate Monthly Lease Payments?
200 messages, Last post on Nov 02, 2009 at 6:41 AM
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Replying to: fordfool (Nov 18, 2008 6:01 pm)  I used to be able to pencil whip a lease by hand with the best of them. A customer could ask me what a payment would be and I could flip a buyers order and figure it quicker then a cat can lick its butt. Now you could hold a gun to my head and I could not figure one by hand  Probably because over the last 5 years we have gone from doing 75 leases a month to maybe 1 a month.
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Replying to: joel0622 (Nov 19, 2008 6:27 am) Really? I'd have thought it would be the complete opposite, people trying to reduce their monthly outgoings.
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Replying to: grandtotal (Nov 19, 2008 6:30 am)
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Replying to: joel0622 (Nov 19, 2008 7:39 am) Our latest car (11 months ago) was leased (first time ever for us) and we did that because we wanted someone else to underwrite the residual.
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Replying to: fordfool (Nov 18, 2008 6:01 pm) Because a part of the loan is being paid back each month, the average amount owed over the term of the loan is one-half of the amount financed (divide by 2). You are paying finance charges on an average of the CAP cost + residual, but in the formula, they are added together... The division by 2 gets you the average.. (CAP cost + residual) / 2 regards, kyfdx |
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Replying to: grandtotal (Nov 19, 2008 8:13 am) What makes you say that???? Perception and dealer greed killed leasing. I can find 3000 post on this board alone where people talk about calling it fleecing. Publications advise against it, and dealers took a good thing and took advantage of it. Ford by the way was the first manufacture to go to a fully disclosed lease contract years before the guv ever called for it.
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Replying to: joel0622 (Nov 19, 2008 9:35 am) Well, if Ford have their residuals correct (not an easy thing to do) then they could afford to grant 0% leases in exactly the same way as they can 0% loans. Maybe the reason they don't is because they are not totally sure of their residual numbers. I realise you can never be certain, but to say a 99% confidence level. I personally feel that leasing is a perfectly legitimate was to get the use of a vehicle for a period, I have no need to "own" the car I drive. So long as you can drive a financial calculator there is no need to fear "fleecing". |
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Replying to: golic (Feb 26, 2006 7:43 am) can you please email me the spreadsheet you prepared. thanks
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Ok everyone - I am around again, if you need the spread sheet, drop me an email or post a reply. good luck!! Please let me know of any corrections. Golic
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Replying to: giannv (Dec 02, 2008 9:12 pm) |
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