Leasing a car is a bit more complicated than buying a car with cash or with an auto loan. Because of that, many people are leasing when they shouldn’t be, and others who should are making mistakes or paying too much.
It’s a fact that many people who lease cars make their decision based on nothing more than monthly payment. They know that lease payments are lower than loan payments — it’s true — but what seems like a low lease payment can often be a bad deal. It’s very difficult to calculate lease payments on a simple calculator, especially if you don’t know the standard lease formula. And even if you know how to calculate a payment, it doesn’t tell you if the lease deal is good or bad.
This is the reason that LeaseGuide.com (also by Al Hearn) created the Car Lease Kit a few years ago. It’s a collection of online tables, calculators, and guidelines that give car leasing customers the tools they need to make sure they get the best possible deal and avoid mistakes.
The Lease Kit helps in the following ways:
– Tells you which car makes and models make the best lease deals (have the highest lease-end residual values)
– Shows you average lease-end residual percentages for all vehicle makes and models so that you can compare the lease residual offered by your dealer