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What is the primary factor that may cause the residual value of a leased vehicle to be less than expected?
excessively high mileage
You are interested in buying your leased 4 runner before the term is up 1109 Is that wise What should you expect to pay?
it is wise if you want the vehicle and you will pay the residual value that is stated on your lease agreement
Can a leased car be used as collateral?
Not really. There is no residual value assigned to the leasee, so there is nothing to foreclose on. At the end of the lease you have nothing.
How can you calculate a car's depreciation value?
To calculate a car's depreciation value one must determine the residual percentage of the vehicle then find the original MSRP on the vehicle. One must then multiply the residual percentage by the original MSRP, the outcome will be the depreciated value of the vehicle.
Can you return a leased vehicle after one day?
why not.
Can a teen drive a leased vehicle?
No They Cannot.
Does it void the warranty if you get tints on a leased car?
It is always best to carefully read your warranty to be sure. This type of modification, if done professionally (not by you ), should not cause a warranty problem. However, it could adversely affect the residual value (the amount they say your car is worth) of your vehicle when you return it at lease end. The amount could be quite high if the dealer decides that the windows need to be replaced. Yes, I know that sounds crazy but leasing can be a crazy business and some of the reasons for dropping the residual value can sound almost insane.
Why did it take so long for the EV1 to lease?
When leasing a vehicle it will have a residual value at the end of the lease. In the case of the EV1 it was such a horrific car it's residual value at lease end would be non existent. This car is one of the top 50 worst cars ever produced.
Calculate the residual value of a 15000 car after it has been leased for two years if it depreciates 10 percent the first year and 20 percent the second year?
1st year: 15,000 - 0.1 x 15,000 = 15,000 - 1,500 = 13,500 2nd year: 13,500 - 0.2 x 13,500 = 13,500 - 2,700 = 10,800 Thus, the residue value of the car after it has been leased for two years is 10,800.
Who is responsible for damage to a vehicle during a repossession?
the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.
What is the definition for 'residual value'?
Residual value is the future value of a good after depreciation of its initial value. For example you bought a car for $20,000. After two years and 60,000 of mileage it will value of $10,000.
How do you find where your old leased vehicle is?
Purchase a Car Fax report.
