Условия получения лизинга: Лизинг автомобилей: условия и требования к клиентам

Что нужно знать перед оформлением договора лизинга

Если вы планируете приобрести движимое имущество на условиях лизинга, эта статья — обязательна к прочтению. В ней мы расскажем о семи ключевых моментах, на которые нужно обратить внимание перед заключением лизингового договора. Задав правильные вопросы, вы сможете непредвзято оценить условия сделки, покажете менеджерам лизинговой компании, что разбираетесь в нюансах финансовой аренды.

Итак, какие вопросы нужно задать перед подписанием договора по лизингу.

1. Предлагает ли лизинговая компания специальные цены, есть ли скидки на движимое имущество в лизинг?

Чаще всего компании-лизингодатели — это партнеры производителей специализированной техники и автомобилей, медицинского и другого оборудования, которые являются еще одним каналом продажи их продукции. За это производители имущества предлагают лизинговым компаниям эксклюзивные условия партнерства, более низкие цены и выгодные условия приобретения. Все это — дополнительные преимущества для лизингополучателей, которые могут оформить имущество в лизинг по цене, ниже рыночной.

Свяжитесь с менеджером лизинговой компании и спросите у него об акциях и специальных предложениях цены на предмет лизинга, который вас интересует. Скорее всего вам предложат скидку от 5 до 15% от рекомендованной розничной цены имущества.

2. Сколько придется платить каждый месяц и какова остаточная стоимость предмета лизинга?

На официальном сайте многих лизинговых компаний есть онлайн-калькулятор, который автоматически высчитывает суммы платежей по сделке. Достаточно внести основные значения — стоимость предмета лизинга, размер авансового платежа, срок, на который вы хотите оформить договор лизинга.

Аванс может составлять от 5% до 49% от стоимости предмета лизинга. Его размер напрямую влияет на сумму ежемесячных платежей — чем больше первоначальный взнос, тем меньшей будет финансовая нагрузка на месячный бюджет лизингополучателя.

Можно сколько угодно экспериментировать с калькулятором и подбирать оптимальные значения регулярных платежей, аванса, срока сделки. Стоит также учитывать, что вам предстоит оплатить комиссионный сбор, то есть услуги компании-лизингодателя. А также вас ждут дополнительные расходы, о которых расскажем ниже.

3. Сколько составляет процент по договору лизинга?

Вместо привычной для банковского кредитования процентной ставки в лизинге действует понятие ставка удорожания. В нее входят:

• Возмещение затрат лизинговой компании по приобретению и передаче предмета лизинга (автомобиля, спецтехники, специализированного оборудования) лизингополучателю;
• Возмещение расходов, связанных с оказанием дополнительных услуг;
• Доход компании-лизингодателя.

Нет нормативов, которые бы регламентировали методику расчета ставки удорожания. Лизинговые компании рассчитывают этот показатель самостоятельно.

Обычно низкая ставка удорожания — прерогатива крупных лизингодателей, которые являются партнерами производителей и пользуются программами лояльности. Также у лизингополучателя есть шанс приобрести тот или иной предмет лизинга, чаще всего авто или технику, с минимальной переплатой в период проведения акций.

4. Сколько нужно заплатить в самом начале лизинговой сделки?

Вопрос, который нужно задавать в первую очередь. Особенно он актуален, если вам делают выгодное предложение «от которого невозможно отказаться».

До того, как вы начнете платить ежемесячные платежи, вам предстоит внести аванс в размере 5 — 49% от стоимости предмета лизинга, комиссию лизингодателя и оплатить страховку. Страховку можно разбить и включить в регулярные платежи — так будет намного удобнее в финансовом плане. Чем больше вы внесете на начальном этапе, тем меньше придется платить каждый месяц — можете самостоятельно проверить в онлайн-калькуляторе на сайтах лизинговых организаций.

5. Есть ли какие-нибудь дополнительные платежи в договоре лизинга?

Первоначальный авансовый платеж и ежемесячные суммы по лизингу — обязательны (иногда можно обойтись без аванса, но это крайне редко и в рамках уникальных акций). А вот о других платежах и дополнительных услугах можно поговорить с лизингодателем.

Лизинговые компании предлагают широкий перечень дополнительных сервисов. Например, для легковых и грузовых автомобилей:

• Регистрация транспортного средства в ГАИ и Гостехнадзоре;
• Доставка автомобиля к лизингополучателю;
• Автомобильные страховки;
• Топливная программа;
• Шинный сервис и прочее.

Часто оформление всех вышеперечисленных услуг в лизинговой компании обходится дешевле и быстрее по времени. Стоит изучить предложения нескольких лизингодателей, чтобы выбрать наиболее выгодное.

6. Есть ли какие-то ограничения по использованию предмета лизинга?

Момент очень важный, особенно для автомобилей. Иногда встречаются на первый взгляд весьма выгодные предложения по лизингу, но, если задать вопрос о максимальном разрешенном пробеге, получается уже не так радужно. Например, сделка по операционному лизингу предусматривает стандартно пробег не более 200 тысяч километров за весь срок лизинга. И здесь стоит обратить внимание на два момента:

• В случае, когда лизингодатель превышает лимит по пробегу, лизинговая компания имеет право начислить издержки. Это может быть продажа дополнительного пакета км, или плата за каждый км свыше лимита. Вопрос ограничений нужно обязательно уточнить, чтобы не столкнуться с неприятными сюрпризами.
• Вы не сможете пользоваться автомобилем так часто и в таких количествах, как вам хочется, поэтому ценность такой лизинговой сделки будет ниже, чем сделки с большим километражем.

7. Можно ли передать договор лизинга другому клиенту?

Перед заключением лизингового договора нужно уточнить у менеджера лизинговой компании — есть ли возможность выйти из сделки лизинга раньше срока и передать ее другому клиенту. Многие компании-лизингодатели идут на встречу клиенту, но эти условия должны быть прописаны заранее в официальном документе.

Получив ответы на эти семь вопросов, у вас будет объективное представление о преимуществах и недостатках каждого коммерческого предложения по лизингу движимого имущества, и вы сможете принять взвешенное решение.

90000 Glossary of Car Leasing Terms | News 90001 90002 RonFullHD / iStock / Thinkstock 90003 90002 90005 CARS.COM — 90006 To get the best car lease deal, it’s imperative to understand leasing’s complicated vocabulary. Read through our leasing glossary below to ensure you understand the basics. 90003 90002 90005 Related: Should You Buy or Lease Your Next New Car? 90006 90003 90002 90005 Acquisition fee (or bank fee or initiation fee): 90006 A fee charged by a lessor to begin a lease. An acquisition fee is also known as an initiation fee or a bank fee if the lessor is a bank rather than a dealership.Acquisition fees typically start around $ 400 and seldom are negotiable. 90003 90002 90005 Adjusted capitalized cost: 90006 The final amount on which lease payments are calculated. This is the figure arrived at by subtracting the capitalized cost reduction from the gross capitalized cost. 90003 90002 Let’s say you plan to lease a new SUV where the negotiated value plus taxes and fees comes to $ 29,005. To lower your payments — or because the deal requires it — you make an upfront payment of $ 5,000 and factor in a $ 1,000 manufacturer rebate.The adjusted capitalized cost then becomes $ 23,005. 90003 90002 90005 Capitalized cost reduction: 90006 A down payment or other credit that lowers the capitalized cost of a lease. The down payment may come in the form of cash and / or a rebate, trade-in allowance or other credit. 90003 90002 Let’s say you decide to lease a car with a manufacturer’s suggested retail price of $ 19,675, but you negotiate that down to $ 18,000. Add to that a sales tax of 5 percent (varies from state to state), which equals $ 900.Your gross capitalized cost becomes $ 18,900. In addition, you have an older trade-in vehicle valued at $ 5,000 and you’re benefiting from a $ 1,000 manufacturer rebate. You would subtract these from $ 18,900, and your adjusted capitalized cost would be $ 12,900. 90003 90002 90005 Captive lease company: 90006 A lease company that is the finance division of an automaker. Most often, attractive lease deals that use low money factors or high residual values ​​to lower monthly payments come from these captives.When the automakers want to move a particular model, subsidized lease deals are one way of doing so. 90003 90002 90005 Closed-end lease: 90006 A lease that does not require the consumer to buy the vehicle at the end of the lease, or to pay any difference between the residual value and market value. Closed-end leases, which are the most common type, usually allow lessees to buy the car if they want. To do so, the lessee may have to pay off the residual value, the market value or whichever is higher when the lease ends, depending on the contract.Though the buying price in the lease contract is supposed to be fixed, in some cases the leasing company will negotiate to a lower price. 90003 90002 90005 Consumer Leasing Act: 90006 Requires lessors to disclose all leasing costs. Also known as Regulation M, the Consumer Leasing Act took effect Jan. 1, 1998. 90003 90002 90005 Dealer preparation fee (or prep fee): 90006 A fee that dealers may charge for getting a car ready for purchase or lease. Such preparation consists of little more than washing the car and filling it with gas.You sometimes can negotiate this fee out of a lease contract. 90003 90002 90005 Default charge: 90006 A penalty fee charged to the lessee for a late monthly lease payment. 90003 90002 90005 Deficiency: 90006 The difference between the amount owed on a leased vehicle and its current cash value. If you have a serious accident early in the lease, such a deficiency may result in an insurance payoff that does not cover your obligations. For that reason, you should have guaranteed auto protection, or gap, insurance to make up the difference.90003 90002 90005 Depreciation fee or charge: 90006 The component of a monthly lease payment that accounts for the value the car loses during the lease. Depreciation is the difference between the vehicle’s list price and the projected residual value at lease end. This figure, divided by the number of months in the lease, determines one part of the monthly fee, while the money factor is the other. 90003 90002 For instance, let’s say an SUV has a list price of $ 38,980. Let’s estimate that after a three-year lease, this SUV will be worth 34.6 percent of its original value, or about $ 13,500. Therefore, the difference, or $ 25,480, is the total depreciation charge. On a 36-month lease, that becomes a $ 708 monthly charge. But if you can negotiate a lower gross capitalized cost, you lower your depreciation charge and your monthly payment. 90003 90002 90005 Early termination: 90006 When the consumer ends the lease before the agreed-upon time. Early termination can result in hefty fees. It is not always voluntary; if the car is stolen or totaled, the lease terminates, and early-termination fees still may apply.Good gap insurance plans cover penalties such as this, in addition to the lease balance. 90003 90002 90005 Gap insurance: 90006 Gap, or guaranteed auto protection, represents the «gap» between what your insurance company pays and what you owe the lessor at the time the car becomes history, which can potentially be tens of thousands of dollars. Gap insurance pays off the lease balance if a leased vehicle is stolen or totaled. Gap insurance also typically covers any penalties for early termination.Captive lease companies offer gap insurance as part of the lease, and their cost is typically no higher than you could get from your own insurer, so it often makes sense to take gap insurance there. 90003 90002 90005 Gross capitalized cost: 90006 A leased vehicle’s negotiated purchase price. This also accounts for taxes and any other items you elect to fold into the lease and pay over time rather than up front. 90003 90002 Let’s say you decide to lease a new car with a manufacturer’s suggested retail price of $ 19,675, but you negotiate that down to $ 18,000.If the sales tax in your area is 5 percent, that equals $ 900 and your gross capitalized cost becomes $ 18,900. 90003 90002 90005 Inception / lease inception: 90006 The beginning of a lease term. 90003 90002 90005 Inception fees: 90006 Any fees that are due at lease inception. Inception fees may include a down payment, security deposit, acquisition fee, first month’s payment, taxes or title fees. To reduce monthly payments, some lease deals are structured so that a combination of the down payment and assorted fees can total several thousand dollars.90003 90002 90005 Indemnity: 90006 A lease contract provision that absolves the lessor from charges incurred by the lessee. Because the leased vehicle is in the name of the lessor, this indemnity section is necessary to shift responsibility for parking and traffic tickets to the lessee. 90003 90002 90005 Lease fee or charge (or implied interest): 90006 The cost of leasing a vehicle, excluding the depreciation, is based on the money factor. The lease charge is sometimes called the rent charge or implied interest, though it’s not interest in the traditional sense.90003 90002 You can get some idea of ​​the equivalent annual percentage rate if you multiply the lease fee money factor by 2,400; this calculation will be slightly above the equivalent annual percentage rate that the money factor represents. If a dealer quotes you a money factor such as 3.1, which sounds like a low APR, you can multiply that by 2.4 in order to get the equivalent APR. In this case, the rate would be akin to a 7.44 percent APR. 90003 90002 90005 Lessee: 90006 The person who agrees to lease the vehicle; the consumer; you.90003 90002 90005 Lessor: 90006 The company that grants a lease, such as a dealer, automaker or bank. The dealer effectively sells the car to the lessor, who then «rents» it to the consumer. If you buy the car when that lease is over, you are buying it from the lessor, usually either a bank or captive lease company, rather than the dealer. 90003 90002 90005 Mileage allowance: 90006 The maximum number of miles a leased vehicle can be driven per year without incurring a penalty. The allowance is stated in the lease contract.An allowance of 12,000 miles annually is typical, though the amount may be negotiable. If you think you need additional miles, negotiate them up front. You often can usually add miles at the start of a lease for far less than the penalty you’d be hit with for those same miles at lease end. 90003 90002 90005 Mileage charge: 90006 A charge levied if the lessee exceeds the mileage allowance on a leased vehicle. This penalty typically is calculated per mile. Negotiating or paying for extra miles at lease inception is almost always less expensive than the penalty for exceeding the allowance.90003 90002 90005 Money factor (or interest rate): 90006 A fractional number, such as 0.0042, used to calculate a lease fee or charge. The monthly payment combines the resulting fee with the depreciation fee or charge. The money factor is not an interest rate; it is based on a formula that lessors devise to determine their profit. Consumers should look for a lower number. While lessors are not required to disclose the money factor, you still can insist on knowing it before entering a lease.90003 90002 You can get a rough equivalent of an annual percentage rate if you multiply the money factor by 2,400; this calculation will be slightly above the equivalent APR that the money factor represents. If a dealer quotes you a money factor such as 3.1, which sounds like a low APR, you can multiply that by 2.4 to get the equivalent APR. In this case, the rate would be akin to a 7.44 percent APR. 90003 90002 90005 Open-end lease: 90006 A lease that requires the consumer to pay the difference between the vehicle’s residual value and its actual value when the lease ends.This amount is called the deficiency. Conversely, if the car’s value at lease end 90115 exceeds 90116 the residual value, the consumer can purchase the car and collect the difference on resale. Most residual values ​​are calculated to prevent this outcome regardless of how well the vehicle is preserved, so open-end leases are a gamble. Such leases are rare and you should never accept one. 90003 90002 90005 Purchase option: 90006 The opportunity for the lessee to buy the car at the end of the lease.The price to buy the vehicle is stated in the lease contract and usually is equal to the residual value. 90003 90002 90005 Regulation M: 90006 The Federal Reserve Board’s Consumer Leasing Act, which requires full disclosure of all leasing costs. 90003 90002 90005 Rent charge: 90006 A term used to describe the lease fee or charge, most notably in the federal Consumer Leasing Act disclosures form. 90003 90002 90005 Residual value: 90006 The car’s wholesale value at the end of the lease as projected at the beginning by the lessor.Higher residual values ​​translate to lower monthly payments but increase the cost to buy the car at the end of the lease. 90003 90002 90005 Security deposit: 90006 A cash sum that lessors require at lease inception as a safeguard against nonpayment. Lessors often require a security deposit of about one monthly payment. The lessor enjoys the interest on this amount throughout the term of the lease. In theory, you should get this deposit back at the end of the lease, but the lessor often will keep it as part of any excess wear-and-tear charges assessed.90003 90002 90005 Single-payment lease: 90006 A lease in which the consumer can pay all of the lease fees and payments at the beginning, along with the down payment. This newer type of lease is not a likely option for most consumers. Spendthrifts who are concerned about spending this money and not being able to make monthly payments might choose this plan. A likely user is an affluent buyer who could pay cash to buy a car but wants to have a new vehicle every three years or so and does not want to bother with selling or trading the old one.90003 90002 90005 Subvented / subsidized lease: 90006 A lease subsidized by an automaker, usually by its captive lease company, to make the vehicle more attractive. The subsidy is seen in a higher residual value or a lower money factor. 90003 90002 90005 Termination fee (or disposal or disposition fee): 90006 The amount lessees must pay at the end of a closed-end lease if they choose not to pay the residual value and buy the car. This fee can include administrative charges, any penalties, the dealer’s cost to prepare the car for resale and other charges, real or imagined.Make sure this is stated clearly in the contract, and is agreeable. At termination, you are in no position to negotiate and the lessor can apply your security deposit toward this fee. 90003 90002 90005 Wear-and-tear charges: 90006 Charges for damages to a leased car that are greater than «normal» or «reasonable.» Be sure these are defined in the lease agreement, and are agreeable, or you could pay hefty fees at lease end. 90003 90002 For example, dings in the doors may seem normal to you, but would they to the lessor? Some captive lease companies now offer deals where, by adding $ 10 or less to your monthly payment, you are exempt from up to $ 2,500 in these charges at the end of the lease.90003 90002 90115 Cars.com’s Editorial department is your source for automotive news and reviews. In line with Cars.com’s long-standing ethics policy, editors and reviewers do not accept gifts or free trips from automakers. The Editorial department is independent of Cars.com’s advertising, sales and sponsored content departments. 90116 90003 90002 Share 90003 .90000 Lease Term Definition | Lease Term Explanation • The Strategic CFO 90001 90002 See Also: 90003 Capital Lease Agreement 90003 Lease Agreements 90003 Operating Lease 90003 Sale-and-Leaseback 90003 Why Is Intellectual Property Risk Everybody’s Problem? 90008 90002 Defined as the period of time in which a contracted lease is in place, lease term establishes the time period to both the lessee and lessor. Lease terms generally come on 3 forms: fixed, periodic, and indefinite. Additionally, a lease can cover either material or non-material property.An example of this would be a real estate lease as compared to a software lease. 90008 90011 Lease Term Explanation 90012 90002 Lease term, explained to many as the period of time where they have usage rights to a piece of property, is a deeper concept than this. It forms part of the 90014 lease term sheet 90015, the document which spells out the entire lease agreement. Lease term, also known as lease tenure, lease period, and more, is merely a part of this agreement. Still, it serves as the basis and arguably most crucial aspect to any lease.90008 90002 Lease term can last for a specific period of time (fixed), can be extended at the will of both parties (periodic), or can last for an undetermined period of time (indefinite). Additionally, leases can exist as either capital or operating leases. Here, these leases would be casually referred to as «lease-to-own» or «rental». These two leases often create a lease term which is differed by the needs of both parties. 90014 Capital leases 90015, often, are not at will, periodic, or indefinite.90014 Operating leases 90015, on the other hand, can be more lax on time expectations while more specific to the rights of the tenant. Naturally, the soon-to-be property owner will begin negotiations with more clearly defined rights than the soon-to-leave renter. The flexibility of leases negates mathematical calculations on a lease term calculator. Negotiating leases is as much an art as a science. 90008 90023 Lease Term Example 90024 90002 Tex, an entrepreneur from Texas, has been quite successful as a «land man».With a keen eye, a good team, and a little luck he has gained the mineral rights to several properties which are oil rich. Finding and tapping the natural resources that the land offers has created a mutually lucrative environment for both Tex and the property owners he leases from. 90008 90002 As a part of his business, Tex works with all kinds of leases. Based on his research, the work of his team of geologists, his legal counsel, and his sense of adventure, Tex decides which 90014 lease term options 90015 to take part in.Tex is now working with two property owners. 90008 90031 First Property Owner 90032 90002 One, Louie, has a property with a small well. This well, close to the surface of the land, can be easily accessed by the equipment Tex uses. Tex has encouraged Louie to get his land appraised so that the two men can make an agreement which benefits both parties. It is now time to negotiate the lease to the mineral rights of the land. At the table, Tex expresses that he is interested in an indefinite operating lease on Louie’s land.Tex thinks the well will be tapped within a couple years but wants to hedge his bet by keeping rights until the job is finished. 90008 90002 The two men agree and begin to decide on the terms of the lease. They decide on fixed payments, rights of use on Louie’s property, and that the lease will be at will. To ensure that he maintains use for as long as he needs, Tex includes a commission plan which gives Louie a percentage of the income made from the oil in this 90014 commercial lease term sheet 90015.As Tex puts it, «you can catch a cow better with sweet feed than with sour grapes». 90008 90031 Second Property Owner 90032 90002 Next, Tex begins talks with another property owner known as Okie. The two men meet at the table after each has performed the proper due diligence on the property. The findings indicate that there is little limit to the oil that can be gained from this property, though it is deep into the earth. Being a man with many projects, Tex opts for a capital lease rather than buying the property outright.This allows him to eventually own the property while gaining profits from it now. 90008 90002 Okie sees this as a fair trade and the two men begin the specifics of the agreement. They discuss duration until ownership is transferred, the amount of regular payments, and more. It is decided that Tex will start a balloon payment schedule, where he makes minimum lease payments until the end of the lease where he pays much of the property off in a large, final payment. He will sweeten the deal by paying slightly more to Okie for his property than he normally would.The two men agree and complete the 90014 lease term agreement 90015. 90008 90002 Tex is satisfied with the two deals he made. He knows that each serves a certain place in his company. Tex also knows that he has given a fair deal to Louie and Okie. To Tex, everything has gone according to plan. He begins the cycle anew by reviewing an equipment lease term sheet that has been placed on his desk. 90008 90002 90050 90050 90008.90000 Understand How Car Leasing Works — Explained 90001 90002 Understand How Car Leasing Works to Take Control 90003 90004 First, let’s do away with a common misunderstanding about car leasing: car leasing is not the same as car renting. Car renting and leasing are two totally different financial concepts. 90005 90004 Automobile leasing is based entirely on the concept that you pay for the amount by which a vehicle’s value depreciates during the time you’re driving it. Depreciation is the difference between a vehicle’s original MSRP value and its value at lease-end (residual value), and is the primary factor that determines the cost of leasing.The smaller the difference, the lower the lease payment, and the better the deal. 90005 90002 It Depends on the Car Make and Model 90003 90004 If you consider two different brand cars, both costing $ 30,000 when new, where one is worth $ 15,000 after three years and the other worth only $ 12,000, the first car will cost less to lease because of its smaller depreciation amount — and smaller difference between initial cost and lease-end value. 90005 90004 Different makes and models of vehicles can have dramatically different depreciation rates.Vehicles having the lowest depreciation make the best lease deals. 90005 90004 Generally, European and Japanese makes have lower depreciation than American brands. Honda, Toyota, and Volkswagen have consistently held low depreciation ratings (high resale values), as have Mercedes, Lexus, and other luxury brands. See our Lease Kit for lease ratings on all makes / models vehicles, based on expected depreciation values. 90005 90004 Let’s take a look at MSRP and residual value, as well as the other components of leasing — capitalized cost reduction, money factor and lease term — to understand how car leasing works.90005 90002 Manufacturer’s Suggested Retail Price — MSRP 90003 90004 MSRP is the full price for a vehicle as displayed on its window sticker, including optional packages and destination charges. Dealer fees are not considered part of MSRP, although these charges are part of the overall cost of the vehicle. 90005 90004 Dealers will usually agree to discount the sticker price if you ask — and you are willing to haggle for it — unless the vehicle is in hot demand and low supply. See Car Price Secrets — What Dealers Will not Tell You for more details.90005 90004 You can also get pre-discounted dealer prices through online new-car pricing services such as 90025 Edmunds 90026. This service shows you 90025 highly discounted dealer prices 90026 that are often below dealer invoice price. Best of all, it’s free. 90005 90002 Capitalized Cost (Cap Cost) — Lease Price 90003 90004 When you and your dealer sit down and agree on a price for a leased car, this becomes the capitalized cost, or «cap cost.» In a good lease deal, the cap cost will be significantly less than MSRP.Cap cost is sometimes called lease price. 90005 90004 Because this is where dealers make their profit, they will sometimes imply, or possibly state outright, that price is not negotiable in a lease, and that somehow leases are different because you are not buying the car. This is simply not true. 90005 90004 It’s in your best interest to always negotiate the lowest price (capitalized cost) possible — a discount off the sticker price — just as if you were buying. The lower your capitalized cost, the lower your monthly lease payments will be.90005 90038 90004 When negotiating a car lease price, it’s important to 90025 know what other people are paying 90026 for the same car you want. Otherwise, you likely will not know what price you’re negotiating for, especially if there are manufacturer incentives available. You can easily get this information at 90025 Edmunds 90026, an invaluable resource for anyone buying or leasing a car. 90005 90045 90002 What’s In Cap Cost 90003 90004 Capitalized cost may also include certain fees, such as an acquisition fee (similar to mortgage «points», or loan origination fee).Acquisition fees are often not specified in lease contracts, so it may not be readily apparent that you are paying it in your capitalized cost, although it can be expected and is a normal part of a car lease. 90005 90004 If you have not fully paid off the vehicle you’re trading, cap cost would also include any remaining loan balance ( «negative equity») after trade-in credit is applied (this is not a good practice if you can avoid it ). 90005 90002 Capitalized Cost Reduction 90003 90004 Capitalized cost (lease price) can be reduced by rebates, factory-to-dealer incentives, trade-in credit, or a cash down payment.These are known as cap cost reductions. Even modest cap cost reductions, such as a down payment, can create significantly smaller monthly lease payments, especially in shorter leases. 90005 90004 When you subtract cap cost reductions from cap cost, you get net capitalized cost, sometimes called adjusted cap cost. This is the figure you’ll use in the lease payment formula later (see Monthly Payments). 90005 90004 Net Cap Cost is the negotiated price of the vehicle plus any other costs minus any Cap Cost Reductions.90005 90002 Residual Value 90003 90004 The wholesale worth of a car at the end of its lease term, after it has depreciated in value, is called its 90063 residual value 90064, sometimes called «resale value.» The higher the residual value, the more the car is worth at lease-end — and the lower your lease payments. 90005 90004 Since nobody can truly predict the future, residuals are only educated guesses based on historical resale-value data for specific automobile makes and models. 90005 90004 Leasing companies and banks subscribe to services that provide this kind of industry data, and then use it as a basis to set their own residual numbers.90005 90004 Car manufacturers ‘leasing companies often temporarily boost residuals on slow selling vehicles so that they can offer better lease deals. These are called 90063 subvented 90064 lease deals. 90005 90002 Residual Percentage 90003 90004 Residuals are usually stated as a percentage of MSRP. A 36-month, 50% residual on a new $ 30,000 car means that its estimated depreciated value at the end of a 3 year lease will be $ 15,000. The actual value at the end of 36 months might be higher or lower.(Our 90025 Lease Kit 90026 contains estimated residuals for all current auto makes and models). 90005 90004 Residual percentages decrease as the length of a lease, called the lease term, increases. This is because the older a vehicle gets, the less it’s worth. 90005 90004 For example, the 24-month residual on a particular car might be 57% of MSRP, decreasing to 50% for 36 months, then to 44% for 48 months, and 39% for 60 months. 90005 90004 Residuals fall rapidly in the first 24 months, then more slowly in later months.This is why shorter term leases can be more expensive than longer leases. 90005 90002 High Residuals Make the Best Leases 90003 90004 The best cars to lease are those whose 36-month (3 year) residuals are at least 50% of their original MSRP value. 90005 90004 Remember, the higher the residual, the lower the lease payments. This is not to say that cars with lower residuals can not be good lease deals, it’s just that you get more car for your dollar with the high-residual models. 90005 90004 Lease companies often artificially raise residual values ​​on particular vehicles for limited-time promotions to make leasing more attractive.(See the 90025 Lease Kit 90026 for lease ratings on all vehicle makes and models). Generally, residuals set by car manufacturers ‘finance companies (Ford Credit, Honda Financial Services, and others) are higher than industry averages to help promote lower lease payments. 90005 90002 Money Factor — Lease Rate 90003 90004 When you lease, you’re tying up the leasing company’s money while you’re driving their car. Remember, they spent their money to buy your car from the dealer so that they could lease it to you.They rightfully expect you to pay interest on that money, the same as with a loan. 90005 90004 This interest is expressed as a 90063 money factor 90064, sometimes called 90063 lease factor 90064, 90063 lease rate 90064, or simply 90063 factor 90064, and is specified as a small decimal number such as .00297. (Note: dealers will sometimes confuse you by quoting money factor as a larger decimal, such as 2.97, which means .00297, because it sounds like an attractively low annual interest rate.) 90005 90004 Money factor can be converted to annual interest rate (APR) by multiplying by 2400 (Yes, it is always 2400 and is not related to the length of the loan in months). For example, a money factor of .00297 multiplied by 2400 = 7.13% APR 90005 90004 A good rule of thumb: Lease money factors, converted to APR, should be comparable to, if not lower than national new-car loan interest rates. 90005 90004 Like interest on a loan, the lower the money factor, the lower your monthly lease payments.90005 90004 Some recent manufacturers ‘lease deals have offered lease rates as low as .000375 (0.9% APR), or lower. However, you may not qualify for these great money factors unless if you have a spotless, or near spotless, credit rating. Credit requirements for leasing are somewhat more strict than for purchase loans because of higher risks to the financial company. 90005 90002 Money Factor Depends on Credit Score 90003 90004 If your credit history is flawed, even if it’s a mistake, you’ll pay a higher money factor finance rate — or not be able to lease at all.It’s always advisable to 90025 know your credit score before you visit a dealer 90026. 90005 90038 90004 90025 Get your Experian Credit Report FREE at freecreditreport.com 90026 90005 90045 90004 If you spot problems in your credit score, get them resolved with the credit agency as soon as possible. Mistakes on your credit history can haunt you for up to 10 years. 90005 Note that money factor and interest rate are not required by law to be shown in lease contracts. So, if you want to know your lease rate, you’ll have to ask — or you can calculate it using the 90063 Lease Inspector 90064 in our 90025 Lease Kit 90026.90002 Lease Term (Months) 90003 90004 90063 Lease term 90064 is the length of time a car is leased, usually expressed in number of months. Typical leases are 24, 36, 39, or 48 months, although «oddball» terms, such as 27, 30, and 42 months are sometimes used. These odd lease terms are generally designed to have your lease end and get you back into the showroom during a slow sales period. 90005 90004 Although longer leases produce somewhat lower monthly payments (see interactive graphic at right), it may be smarter to choose a shorter lease term.Here’s why. 90005 90002 Avoid Long Lease Terms 90003 90004 Choose a lease term that’s no longer than the general coverage ( «bumper-to-bumper») warranty (not «drive train» warranty) that comes with your vehicle. That way, you’re covered for the entire duration of the lease if something breaks. For example, if a vehicle’s «bumper-to-bumper» warranty is 36 months, do not lease for longer than 36 months. 90005 90004 Many major vehicle problems start in the fourth or fifth year. For this reason, 60 month leases, which are declining in popularity, are not recommended except for those few brands that have unusually long warranties (Hyundai: 5 years).90005 90002 Summary 90003 90004 Understanding how car leasing works is essential to being able to lease intelligently and getting the best deals. 90005 90004 Please read the next section, 90025 Monthly Lease Payments 90026. 90005 90004 90005 .90000 Short-Term Car Lease Explained — by LeaseGuide.com 90001 90002 How To Lease a Car Short-Term 90003 90004 90005 Car dealers do not normally offer short-term leases on new cars. Nor do they lease used cars. They only offer new-car leases that typically start at 24 months. Leases for 36 and 39 months are the most common. 90006 90004 If a shorter term, say a 1 year lease, is required, there’s another way to do it. We’ll tell you how and where. 90006 90009 Why a Short Term Lease? 90010 90004 There are many reasons someone might want a vehicle for a relatively short period of time — 3 months, 6 months, or one year.90006 90013 90014 A temporary job assignment. 90015 90014 School. 90015 90014 Temporary financial situation. 90015 90014 Special family needs. 90015 90014 Military deployment. 90015 90014 Want to «test-drive» a particular make / model for a while. 90015 90014 Do not have cash for down payment and dealer fees. 90015 90028 90009 So What’s the Answer? 90010 90004 In many cases a 90032 long-term rental 90033 from a car rental company may be the answer. Rent terms can range from one day to several months, although longer rentals can be very expensive.For the best rates for a long-term rental, rent from smaller local car rental companies, not large national companies such as Hertz or Alamo. 90006 90035 90004 As a rule of thumb, if your needs are for about six months or less, renting may be the best solution. However, for six months to 24 months, or more, you may be better to consider a short-term lease in the form of a 90037 lease assumption 90038. 90006 90040 90004 Many 90032 short term car lease assumptions 90033 are being offered at bargain prices, with no down payment — many with 90032 cash back incentives 90033 — if you know where to look.90006 90009 How Does it Work? 90010 90004 All short term car leases are lease «assumptions» or «transfers» or «takeovers.» That is, one party arranges to take over a lease from another party who wants out of their existing lease. The new lessee takes over the car and assumes the monthly payments for the remaining months of the original lease. 90006 90004 Remaining time on the leases can be as little as 3-6 months, as high as 39 months. 90006 90004 Short-term lease takeovers are a great way to get a low monthly payments, with no down payment or up-front dealer fees.In many cases, desperate «sellers» are offering cash incentives to make the deals more attractive. It is one of the best ways to get into a relatively late model car, still under warranty, at the lowest possible cost. 90006 90004 The process of lease assumption is one that involves the «seller’s» lease company making the necessary paperwork and contract changes to switch the lease over. It’s usually fast and costs about $ 100, depending on the lease company. 90006 90004 At the end of a short term lease, the new «buyer» is responsible for returning the vehicle to the lease company, or optionally purchasing the vehicle.If the vehicle is returned, the new lessee can be charged for excessive damages or mileage just as the original lessee would have if they had kept their vehicle. 90006 90009 How to Find Short Term Leases 90010 90004 Although you can sometimes find lease «sellers» in newspaper classifieds or «auto trader» magazines, this is not the best way. If you happen to find a lease in this way, remember it’s not legal and proper until the selling party’s lease company approves and changes the contract.You can not simply take over lease payments from someone without changing the contract with the lease finance company. 90006 90004 The better way is to visit the web site of one of a handful of companies on the Internet, such as 90032 Swapalease.com 90033 who specialize in matching up lease sellers with willing buyers. They list and display vehicles for which lease transfers are being offered. In many cases these can be very good deals, especially when the original lease deal was good to begin with.90032 Sellers frequently offer cash payments to interested buyers 90033. This is a great way to get into an almost-new car for very little money. 90006 90004 To transfer a lease, some lease companies charge a relatively small application and / or transfer fee. It’s easy and inexpensive. Most will also 90032 check your credit score 90033, which you should already know. If you do not know your most recent score, you should. 90032 Get your Experian Credit Report FREE at freecreditreport.com. 90033 90006 90004 Also read our article, 90032 Terminate a Lease 90033, if you are interested in getting the «seller» viewpoint on this topic.90006 90004 90006 90009 See Best New Car Lease DealsClick Here 90010 90004 90006 90009 If You Can not Find a Short-Term Lease Assumption 90010 90004 Lease assumptions can often be hard to find, especially if you’re looking for a specific make / model car. So what to do? 90006 90004 One solution might be to simply buy a good used car — one that is known to hold its resale value well — and resell it when you no longer need it for very little loss of money. Cars that are popular and have a history of great reliability make the best choices.Examples of such cars are: Honda Civic, Honda Accord, Honda CRV, Toyota Corolla, Toyota Camry, and Toyota RAV4. 90006 90004 If you need an 90032 auto loan 90033 for your purchase, even if you have bad credit, there are online services, such as 90032 InstantCarLoan.com 90033 that specialize in providing simple online application and fast approvals. Even if you’ve been approved by a dealer or bank, you should check online services as well. 90006 .