Quote:
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Originally Posted by pz619
Quote:
Originally Posted by livestrong191
Can some one help me I am confused. So for every $1000 a car increases in price or go down in price , does the payment go up or down $30 or $20
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It's not quite that simple. It depends on your money factor, residual value bounced against capitalized cost, length of lease, your local tax rate etc.
We really need all the numbers. In many instances though, a $1000 increase could only increase the payment by $30. |
Exactly. $30 per month is for $1,000 down as it goes fully into the cap cost.
Way to figure for a car MSRP (roughly) is to take the increase ($1,000) * opposite of residual / term. Usually works out closer to $12-$15 per thousand.
And obviously, adding down reduces payment and adding price increases it.