Originally Posted by FLYCT
It depends on how the initial lease was written. There are 4 factors when calculating a lease
1- MSRP (sticker price)
2- CAP COST (actual sale price)
3- Money factor (interest rate = money factor x 2400)
4- Residual (what is owed at end of lease as a percentage of MSRP)
In addition, usually there us a bank fee tacked on at the beginning and cash you out down at the beginning of the lease.
I wanted to purchase my Acura RL at the end of the lease. Acura wanted the payoff or residual vale to purchase it. Unfortunately the residual value was $4000 higher than what the car was worth and Acura wouldn't budge.
You need to ask what the buy out is and compare it to what 2012's with similar miles are going for.
MSRP: CAD $30950
LEASED VEHICLE AMOUNT: 32550
Not sure what you mean by Money factor but the Interest rate is 2.8%/60months
ESTIMATED RESIDUAL/BUYOUT is 11450.50
I get the option to buy it out whenever I want. I checked the Canadian blackbook and it says that average asking price for a 2012 with 38500KM is going for $30300.
Mine is only 21500 KM and its at 20 months. It also says on the blackbook that my car is worth CAD $18500. So I dont know, does that mean its depreciating really fast?? The lease document says my residual is just 11k, is that considered too expensive cause of the depreciation?