steven975

the reason it's 24 is to really simplify the calculation.

as i said above,
Interest: (Purchase Price+Residual)* Money factor

or, it can be:
Interest: (purchase Price+residual)/2 + Interest rate/12

same thing. the first is easier to calculate. as you can see, there are 2 denominators, putting them together makes 24. the reason it's 24 is that the interest is the AVERAGE (sum/2) of price and residual. money factor is interest/24...I hope you see why now.

Using money factors makes it easier on sales and F&I guys as many of them are NOT that savvy in math

kumar75150

we lease all of our cars also

one piece of advice: do a leasing company instead of the dealer's lease program. That will save you money 90% of the time.

We just leased a Range Rover and there was a difference of $400 a month between the two.

stockae92

where can i find leasing company? do i get the information from leasing company before i go to the dealer?

BPUKiller

I went through these guys www.fleetrates.com to lease my rx330 and to bargin my IS300 to a low price. As far as leasing, well I think if you are going to buy a car that has a horrible resale value and you don

Chris S

I personally think leasing is great for businesses, but not for consumers (and I'm in the leasing biz). Biz lessees can write off the lease pmt, while consumers can't. Mo. pmts. are lower, but the overall economics are higher to the lessee since risk is transferred to the lessor vs. a purchase.

Other cons:
- mods may be restricted, at best you'll lose them upon tradein if they can't be easily removed/restored
- Early term. of a lease can be really difficult and expensive

Add in the higher ins. reqs./costs (i.e. gap ins.), and it's not very compelling as a consumer...unless you want to impress people by driving a more expensive vehicle than you could otherwise afford.