Did I Get Ripped Off On My Car Lease
Did I Get Ripped Off On My Car Lease. If you could get really good financing like.9 or 1.49% from a credit union for a new car, it might be worth just paying off the lease outright and purchasing the car. The front of your paperwork always shows the excess mileage charge of $.15 to $.20 per mile if you exceed 10,000 miles on some cars, and 12,000 miles for others.
Cap cost + residual x money factor (this is an approximate way to calculate the fee with out using accounting formulas) finance charge = 47,719 + 29,125.20 x.00165 = 126.79. Not an expert on this, and also been drinking (rum & oj) so this might not be of much value, but here it goes. However, when i reviewed the final terms of my agreement, i noticed it included these two items:
Lease Restrictions That Lead To Penalties We All Know About The Steep Mileage Penalties Associated With Vehicle Leasing.
1) when leasing, you pay for the car’s depreciation. I am new to this forum and my knowledge of car lease contract is not the best. Your lease payment before taxes:
Not An Expert On This, And Also Been Drinking (Rum & Oj) So This Might Not Be Of Much Value, But Here It Goes.
I am hoping someone can answer my question and confirm my theory. Your lessor will make the arrangements for a lease inspection days or weeks before the date you’re set to drop off your car. Did i get ripped off?
The Front Of Your Paperwork Always Shows The Excess Mileage Charge Of $.15 To $.20 Per Mile If You Exceed 10,000 Miles On Some Cars, And 12,000 Miles For Others.
Somewhere buried in the fine print of your policy, there may be a provision about returning the vehicle within a specific timeframe. Cap cost + residual x money factor (this is an approximate way to calculate the fee with out using accounting formulas) finance charge = 47,719 + 29,125.20 x.00165 = 126.79. It’s a great starting point to see if you’re being ripped off:
Here Are Some Scenarios Where You Likely Won’t Qualify For A.
So no you didn’t get ‘ripped off’ in fact you got a decent deal imho The car was marked up by about $5k just like in the other showrooms across the city. The buy back after lease is $21k and i’m doing 10k miles for 36 months.
In Sum, Use The One Percent Test As A General Rule Of Thumb.
If you keep the lease the way it is, you can buy the car for the 45% of msrp or turn it in. I recently leased a new car. If you negotiate a fair price for the car and leave the dealership with little profit on the sales price, the dealer may try to make money through financing and other revenue streams.
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