Total Cost Reductions: Lease: Also known as capitalized cost (or cap cost) reduction.Įnter the total of any costs that will reduce the lease or loan amount, like down payment, trade-in value, and dealer rebate. Other Reductions: Any other amount that would become part of the down payment to reduce your lease or loan amount. Trade-In Value: Any vehicle trade-in amount you plan to apply as a down payment to reduce your loan or lease amount.ĭealer Rebate: Any dealer (or manufacturer) rebate or matching down payment amount you plan to apply as a down payment to reduce your loan or lease amount. Lease prices are negotiable just as new car prices are, and if your dealer or salesman tries to tell you price is not negotiable when leasing, find a new dealer! ‘Negotiated Price’ has the biggest influence when calculating your monthly payment.ĭown Payment: Any cash amount you plan to apply as a down payment to reduce your loan or lease amount. Lease: Also known as base capitalized (or cap) cost. Use the link icon ( ), if available, to bring up a website and look up the invoice price (it may even show an average price that buyer’s of this car are actually paying). Reasonable offers might be $300-$500 over invoice for vehicles with an MSRP up to $25,000, $500-$1,000 over invoice for vehicles up to $40,000 MSRP, and $2,000-$3,000 over invoice for vehicles over $40,000 MSRP. A good starting point for negotiating a vehicle price is to know the vehicle’s invoice price, then offer something reasonable above that. Negotiated Price: The price you have negotiated (or hope to negotiate) for the vehicle you want to lease or buy. It’s important to have an accurate MSRP when leasing because ‘Residual Value’ is based on MSRP, not the price you actually pay. Click the link icon ( ), if available, to bring up a website and look up the MSRP. Vehicle MSRP: The Manufacturer’s Suggested Retail Price ( not the price you hope to pay) for the vehicle you want to lease or buy. (Your bank or credit union, for instance, may offer lower interest rates or lease fees.) This field is not required but may help if you are comparing several leasing companies or lenders. You are free to shop around and find the best leasing company or lender for you. You do not have to use the dealership’s leasing company or lender. Dealerships usually have a leasing company or lender they automatically process leases or loans through. Leasing Company/Lender: The name of your potential leasing company or lender. Vehicle Name: The name of the vehicle you want to lease or buy. Title: A title for these calculator results that will help you identify it if you have printed out several versions of the calculator. Enter the lease and loan information into this calculator and let it show you all the important numbers you’ll need to make the most informed decision. Should you lease your next car or buy it with a loan? The answer depends on how long you plan to drive the car, the resale value of the car you want, how often you want a new car, how much monthly payments will be, or how much it will cost each year to drive the car.
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