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When you sign the lease paperwork, you'll pay for the residual value of the car. The dealership bases this figure on the expected value of the vehicle by the time the lease is over.
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According to a recent Edmunds used vehicle report, demand for used cars is dropping and so are their values as the new-car market rebounds from pandemic-induced shortages. This is especially true ...
Closed-end leases are so called because they run for a fixed term, and the lessor and lessee agree in the lease contract what the residual value of the property being leased will be. In most cases (particularly in retail motor vehicle leases), the lessee has an option to purchase the property for the agreed residual value at the end of the ...
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
Residual value also known as salvage value describes the future value of a good in terms of absolute value in monetary terms after depreciation, and it is sometimes abbreviated into a percentage of the initial price when the item was new. It is one of the constituents of a leasing calculation or operation and is a key concept in accounting. It ...
Edmunds Says. Taking a little more time to consider all the options and think carefully about the terms of a car deal may save you thousands. It’s time — and money — well spent. ____ This story was provided to The Associated Press by the automotive website Edmunds. Josh Jacquot is a contributor at Edmunds. 08/29/2024 13:00 -0400
During that period, the average monthly lease payment rose from $513 to $597 (interest rates can also affect leasing costs), and the average monthly car payment rose from $617 to $726.
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