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The Kelly Blue Book is the "Bible" of the Car Industry. The "Lease-end" Value is a projection of what the car will be worth "Wholesale" (not Retail) at the end of the "Term" This assumes you stay within the miles allowed for the Lease. Generally 10-15K per year.This also assumes the condition of the vehicle is in the "normal wear and tear" guidelines.
Actually, lease-end values are available in the ALG guide published monthly. ALG is The Bible for the lenders who do leasing or any other residual-based financing. Kelly Blue Book, NADA Bluebook and Blackbook are used principally to determine trade-in value, loan value or suggested retail. Kelly is used primarily in the western states but NADA bluebook is the standard for the central/southwest/eastern parts of the US. Bluebook value and " residual value " are not the same thing, so don't confuse the two-they are in no way related.
When entering a lease please know that there are 2 kinds of lease 1) open end (bad) 2) closed end (good) This is baced on Nebraska law and lease. As far as I know open ended leases are not offered any more but please watch for them. If you enter a closed end lease the price of the car is set at the dealership before you ever leave. The way we determan that price has to do with the residual this is "the amount that the leasing co. projects you will use of the car".I.E. you lease a Impala for $20000 the residual is 50% we take $10000 and put it away the other $10000 is taken times a lease factor(apr) and divided by term this will give you payment. Now your price in my lease is for the used car at full term is $10000 + a "fixed purchase price increment" at our dealership $500 + a $50 Doc Fee for a end price of $10550. YOU SHOULD KNOW THE PRICE BEFORE YOU SINE A LEASE!!There are opts. at the end of a lease like turn the car in,buy the car and keep it or buy the car and trade it.
What else can I help you with?
Is the purchase price at the end of a car lease considered bargain purchase?
No. You're not getting any bargains by buying the car at the end of a lease, rest assured of that.
Why would you use a lease payment calculator?
A lease payment calculator is used to find out what an auto lease will really cost. It takes into account the MSRP, the negotiated price, the down payment, sales tax, length of lease, the end of lease car value, and new car lending rate, as well as the lease time.
What Are The Options On My End Of Lease?
In the end of the lease, you can purchase end up possessing the lease or perform a fair market price lease when in the finish of the term, you buy the equipment for the need for in those days.
Do miles matter on a lease if you buy the car?
Yes, miles do matter on a lease if you plan to buy the car at the end of the lease term. The number of miles driven can affect the car's value and potential resale value, which can impact the overall cost of buying the car at the end of the lease.
What happens at the end of a car lease?
At the end of a car lease u return the car to the dealership. The most u get is a 6 month extension. Hope that helped. Adios.
Do you have to pay for extra miles on a lease if you decide to purchase the car at the end of the lease term?
Yes, if you decide to purchase the car at the end of the lease term, you may have to pay for any extra miles that exceed the mileage limit specified in the lease agreement.
What is the Average cost of corp car lease?
The average cost of a corporate car lease is between 250 and 300 dollars. They usually will not allow a lease of a luxury car unless it is a high end company. In some case, a company car is one of your benefits and may be higher end.
Can you explain how car leases work?
A car lease is like renting a car for a set period of time, usually 2-4 years. You make monthly payments to use the car, but you don't own it. At the end of the lease, you can return the car or buy it at a predetermined price. There are usually mileage limits and fees for excess wear and tear.
Which type of lease makes you responsible for any difference between the actual and estimated depreciation on the car you lease?
Open-end lease
What type of lease makes you responsible for any difference between the actual and estimated depreciation on the car you lease?
Open End lease
Can you sell your leased car before the end of the lease term?
Yes, you can sell your leased car before the end of the lease term, but you will need to pay off the remaining lease balance in full before transferring ownership to the buyer.
What is meant by a balloon payment on a lease car?
A balloon payment refers to the last payement you make on a car that you got as a long term lease. At the end of the lease you can either make a balloon payment and buy the car, or you return the car.
