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Lease 101

What is a Residual Value?
The Interest Rate on a Lease
The Sales Price of the Car
The estimated value of the car at the end of the lease terms
The Months and Miles the car is leased for
How do you convert a Money Factor (MF) to an APR?
MF / 2,400 = APR
MF x 2,400 = APR
Residual x MF = APR
Residual / MF = APR
The Residual is calculated off from?
Cap Cost
Money Factor
Acquisition Fee
MSRP
True or False: The Adjust Cap Cost is the Agreed Upon Price + All Fees (DMV, Acq. Fee, Doc fee, etc.) - Cap Cost Reduction (Cash down, Lease cash, etc.)?
True
False
What is a Monthly Depreciation Charge/Fee?
The Interest Charge you pay each month
( Net Cap Cost – Residual ) ÷ Term
( Net Cap Cost + Residual ) × Money Factor
Not a real fee
The Monthly Rent Fee is calculated: ( Net Cap Cost + Residual ) × Money Factor
True
False
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