Lease Terms
APR equivalent: 4.20%
Lease Summary
Monthly Payment
$611.77
Depreciation/mo
$441.53
Finance Charge/mo
$122.32
Total Lease Cost
$25,023.75
Frequently Asked Questions
What is money factor in a car lease?
Money factor (MF) is the financing rate for a lease, analogous to interest rate. To convert to APR: MF × 2400. A money factor of 0.00175 equals an APR of 4.2%. Dealers often don't volunteer this — always ask for the money factor.
What is the residual value?
Residual value is the estimated value of the vehicle at the end of the lease term, set by the leasing company. A higher residual means lower monthly payments. Residual is usually expressed as a percentage of MSRP (e.g., 60% residual on a $40,000 car = $24,000).
Is leasing or buying better?
Leasing offers lower monthly payments and always having a new car, but you build no equity. Buying costs more monthly but you own the vehicle free and clear after payoff. If you drive more than 12,000–15,000 miles/year or keep cars long-term, buying is usually better financially.
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