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Is This a Good Lease Deal? (Former Dealer Explains)

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Are there standard Money Factors for Used Car Leasing?
Comment from : @ajayvarma7894

"I've done studies" 🤣
Comment from : @mcgrud

OMG, my head is starting to spin- I need the Leasing 101 video For Dummies
Comment from : @patfiddles

I love the son and father relationship It feels so good to see them smiling together
Comment from : @fjeewani

So can you guys run an example of how you are applying the money factor etc? It’s really confusing I understand multiplying the money factor by 2400 to get the interest rate But…what’s that rate applied to??? I don’t want to assume anything but my thinking is as follows Step one, negotiate the price of the vehicle Step two, figure out the residual value when the lease is over Step three, subtract the residual value from the negotiated price Step four, use the remaining balance to run a calculation of the interest rate over the term of the lease to come up with the monthly payment Is this correct? Again id like to see them run a scenario on this They just throw out money factor and a rate but dont discuss how to apply jt
Comment from : @tdz69

Can i find a person to shop for a carbrI dont think i can win with dealers
Comment from : @jasmindaniel-m5i

I cannot believe “gap insurance” was not mentioned?!
Comment from : @patrickpregiato1794

Hi I am looking for some help to buy a Ford F150 in Ontario?
Comment from : @ronelreyes6290

Does leasing happen mainly with new cars? Is it common for dealerships to lease used vehicles?
Comment from : @madalynmoth4263

How does this work for the UK
Comment from : @doodleesq

Hi, br10 days ago I made a bad lease for a 2024 GMC Sierra 2500 AT4X, very expensive truck I gave a 2018 Ford F150 Raptor trucj as down payment plus $15,000 With my wife, we signed some leasing paperwork and they gave us the vehicle After that I felt I did a bad deal and I regreted it but I unable to get out of the lease afterward Some days after the salesman told that some missing papers for the bank financing area, needed to be signed too brQuestions: br1) With some unsigned papers, can the lease go through? I want to get out of the lease br2) If the lease turn incompleted and void, Can I ask returning my Raptor? brThank you
Comment from : @alumahomeinspections7009

This guy is absolutely great
Comment from : @DownloadMalfunction

How can we know what money factor is the right or higher?
Comment from : @rickysekhon5706

I always thought it was Depreciate, interest expense (from money factor), and taxes
Comment from : @jeremyjordan6531

This may or may not be a stupid question If a lease says 12k miles per month for 3 years If I only drive 6k miles the first month does the unused 6k miles roll over to the next two 12 month periods?
Comment from : @grouchosays

How much are people getting off the MSRP?
Comment from : @grouchosays

Hi, I watch you guys all the time I'm doing a deal now I would like for you guys to look it over for me before I follow through with it Is that possible?
Comment from : @rudywilliams1963

Why do you times money factor by 2400?
Comment from : @TheAdventuresOfLN

How did you get 00185 for money factor?
Comment from : @michaelAMaccarr

Do you mention GAP insurance?
Comment from : @michaelAMaccarr

10:24 "94 I make this up"br10:29 "I've done studiesbrhahahaha
Comment from : @cop2506

Why is it split into option A and B?
Comment from : @kas8131

technically it isnt a loan, so they dont have to disclose interest rate what happens if your car is dinged or dented, or had body work when you return it at end of lease? does the dealer say residual value is now $Xk less than agreed to in lease so customer owes the difference?
Comment from : @CJinsoo

Just signed a lease for a Toyota Tacoma SR5 2024 trade in my fusion for $5500 and a 36 monthly payment of $460 all 3 years of service include and 36k mile contract at the end of the contract I can buy it for 29k brThis was a good deal or bad deal 🫣😅😭😏🥲❤️🎉
Comment from : @Babymelanie2023

Watching you contemplating leasing What if you have a trade in that you owe on, probably upside down?
Comment from : @santathomhigh110

Lease is based on sale price, residual value and money factor How do we negotiate the profit down? Doesn't the dealer nark up the deal too
Comment from : @SBqwerty

Is community good for Canadian members and car buyer??
Comment from : @salimchandani3486

Better buy upfront
Comment from : @adrienchan2097

Can you please discuss the purchase process for Rivian’s lease?
Comment from : @andrealovelyvelasco

All right so I'm going to buy a ct6 Cadillac 2016 with 33,000 Mi on it and I want to lease it is the car too old to lease its 8 years old what do I go for a brand new one or a 2020
Comment from : @armandsavoia9394

What if the leased car goes up in value or doesn't depreciate much, and I decide I want to purchase the vehicle Does that change the residual value or benefit me at all during time of purchase?
Comment from : @DBeMe1

? Looking at getting a lease with Tesla is there leases different since they don’t deal
Comment from : @michaeljorris6205

This is why I just steal cars
Comment from : @Flyhightreklow

I still do not know how to figure out the money factor and converted into an apr
Comment from : @SammerSO

Such a gangster father
Comment from : @thefirstplug

Thank you for this great informative video! Just started leasing as my first car
Comment from : @joshuajaimes121

Hey, how do the know the base basis points a Chevy dealer is charging on their trucks
Comment from : @DavidMuniz-jc3jz

Just curious, I normally finance and with my CU I get an unemployment and life insurance policy in case something happens On a lease what happens if I get unemployed or die?
Comment from : @willjaramillo9851

Ray, you are too funny my friend! The sneeze and smiley face had me in stitches!
Comment from : @jfscotch

Not defending dealers by any means but people forget they are in business and need to turn a profit With THAT said, the complexity of how they do this is cause for suspicion It’s not a good feeling on the buying end to see all these games
Comment from : @tdz69

Appreciate the video and love that you guys have this channel - I've been a fan for years But did you ever say whether or not it was a good deal? And I've never had a dealer say yes to lowering the MF markup - that's their bread & butter
Comment from : @kenstrohm2011

Question: I get that one should start w/negotiating the sale price of the car first, but if I know the RV and MF (including the 50 basis point markup), doesn't it all boil down to what I'll be paying monthly anyway? It's just working backwards, but with the same result If I say I want a zero down/sign and drive lease at say, $439/month on a Forester Premium with a MSRP in the 325k range, RV@65 and MF@000257, I'm looking at a sale price about 5 lower than MSRP If I start with the price discount and get to 5 off MSRP, the monthly boils down to $439 Same result, just different order brbrSorry, I'm in the middle of shopping for a lease now and these are the numbers I keep bouncing around in my head and I just can't figure out why it's so important to start in one place and not the other, when you end up at the same place regardless
Comment from : @kenstrohm2011

Is the money factor different from dealer to dealer? And is it negotiable?
Comment from : @marinagarza1803

How is sales tax calculated for the lease? Is it based on the purchase price or the monthly payments?
Comment from : @marinagarza1803

WOW! What is a reasonable but good residual value you should look for in a car when leasing? How do we know the residual value the dealer gives is true?
Comment from : @charisesmith3372

I get getting the lowest price possible but If you are crying about a markup of 30 dollars on a car note maybe you need to not get a car in the first placeNow $100 or more difference in car payments is something to negotiate
Comment from : @RealEpicWork

Anyone on here know money factor for Subaru Leases with tier 1 credit?
Comment from : @DS-zj9nv

Eureka You've discovered math Congrats
Comment from : @The_Turd_Ferguson

All this info applies to a lease company but not if you're buying from a manufacturer like a Honda dealership perse?
Comment from : @kimberlyhinson4252

I’m one of those people who concentrate on the monthly payments I still don’t understand why you say that’s bad As long as the payment fits my budget how can that be bad?
Comment from : @andreatuckman1084

what if you always drive low mileage and you get a letter from the deal a year and half or so Into your lease they want your car is that an advantage to you to go shopping for a new lease soon or do you still wait
Comment from : @michaelschneider1365

If you're at D&M who purchases the car for you, from my understanding, can you still negotiate on the selling price for a lease?
Comment from : @albertwei2071

Thanks guys! This is amazing❤
Comment from : @RRbookie

Another question in my last year of lease when do i enter a new lease? I know the cost of my lease is fixed but the care deprieation drops as months go by , but if i am making payments how do i fugre out whne to buy next car when does the payments stop gaing on the deprieation?
Comment from : @dennisdidomenico7607

why do dealers use a money facotr and no an interest rate? Also in this example you took money factor x 2400 , why 2400 ? also regariding my trade many dealers cant buy another brand car, has to be same manufacture r even car max cant buy my car only if dealears has a dealrship wihin its company of in my case a KIA can they buy it and run it trhough their KIA dealrship One dealer also has a an agreement with a near buy KIA dealer but must be a cost to that in either case I am looking at a Hyundai which is same company as KIA so i thought it wouldnt matter but seems it does I think can company are hurting them selves by forcing people to turn in their leases with them only many people such as myself , move to another company when buying thier new car
Comment from : @dennisdidomenico7607

OK, well how do you get the dealer to get rid of the lease downpayment?? I understand how the residual value of the vehicle has an effect on the payments, but don't understand the "money factor"
Comment from : @fleetwin1

I didn't do a lease with Kia because Kia and the dealership didn't want to tell me what the money factory was during lease negotiation I didn't feel comfortable signing a 48 month lease for a 32k car and the value at the end of the lease was going to be 18k It didn't make any sense Did a purchase instead Car would end up being 50k!
Comment from : @vmarsfiles

I used the 100 down system Much cheaperand I have never used a credit card, never owned onemy cars 2010 Lexus RX 350, 2012 Honda Accord SE :-)
Comment from : @Jeo-fq1zw

This is my thing I'm looking at all these lease offers for trucks lately and they are literally through the roof Ok: Toyota tundra (like top 3 for holding its value) 60,000 dollar vehicle Dealer offers 6k down and 600 dollar per month payments which after 3 years works out to be nearly 30,000 dollars If a tundra is holding over 80 of its value after 3 years why am I paying nearly half of that vehicles price? The tundra depreciates by about 7800 dollars after 3 yrs So 780000 plus the ridiculous 620000 down payment is 14000 dollars And the dealership is offering a deal that would see me pay nearly 30,000 dollars Gentlemen, that is a difference of 1600000 dollars over 3 yrs! Explain please so I won't continue to tell them they're ripping off the country
Comment from : @danieldevries3230

Leasing a car is such a bad financial decision 99 of the time You pay tens of thousands and get nothing at the end unless you have a lease to own The bottom line is if you can’t pay cash for a car, you can’t afford that car Broke people have perpetual car payments just so they can show off to their friends It’s how poor people think
Comment from : @truthsayer9534

Isnt gap insurance included in lease price??
Comment from : @RatTerminator

That makes since because your renting the car and you dont own it Putting money is same as paying them extra
Comment from : @jack8356

I'm coming to the end of my current lease The approximate value of my car is 21,000-23,000 The residual is approximately 16,500 Can I use the difference to negotiate a lower selling price for a new lease
Comment from : @chrisbeane5404

My Husband totaled his lease and they returned the payment for that month and sent him $1800 in equity
Comment from : @iamgoregeous3952

If a dealer emails you a bait and switch estimate to start, do you even bother dealing w them?
Comment from : @jg2613

😊😊
Comment from : @adnanebenkabbou6878

So question from an Australian for interest reasons only in a Australia you can get a lease set up with your employer ( if the employer offers it) that allows you ro pay for the lease with money before you get taxed out of your pay Reducing yor taxable income Wich is why it is popular brMy question to americans is there anything that exists in America like that for leasing a car?
Comment from : @braydenmckinlay246

pretty hard today's market july,2023 to find a lease that doesn't have a down payment most hyundai and kia seem to have 2000 to 4000 down on their leases, of course lot of variation all over the scale
Comment from : @rondematteo369

How can i find out the car maker money's factor at the day i want to buy ? so i can negotiate the final money's factor?
Comment from : @rayraywan7890

You had me at, "OK, Pops"
Comment from : @RuthLopez-tn3uv

How do you get the months published rates for the manufacturer?
Comment from : @kgindpls

Ram has a current promo for certain models of the Ram 1500 for $486 a month for 36 month lease But there are NO other details about the offer, which sketches me out My question is, is there any "wiggle room" when it comes to leasing a vehicle under a promotion rate?
Comment from : @mikemcfiggus8996

Needed this
Comment from : @jonathanhuynh880

I leases a car from Nissan, 6 weeks later the loan mnge called me the dealership overcharged than what the bluebook was worth, told me go sign nre paperwork at dealership I arrived and the mnge at Nissan told me give him my keys and give him a couple days to find a better car, no sir got back in my car and left, text and called saying he was calling police, 3 days later had me return and signed new paperwork now it's been almost 7 weeks and mnge at dealership is texting and emailing he needs new signature on GAP paperwork but all 3 GAP has different loan amounts, nothing matches as far as numbers on all 3 GAP I'm so confused what should I do, I haven't signed the 3rd one yet
Comment from : @preciousharris3397

Question Have a 2020 passport EXL AWD, and the lease ends in September As of now, it has 165k miles The residual value is about 25-26k The actual value now is about 31-32K I really like the vehicle, and thinking of buying it out My question is, if I extend my lease for another 3 months and make an extra 3 payments Does that lower the residual amount? Or does it remain the same and extending was a waste making 3 extra payments?
Comment from : @alexruiz6160

How is dealer markup ($3,000) calculated in a lease payment? Does the residual value apply to the markup? Does the residual value apply to the accesories/addendum added to the price?
Comment from : @ARCARS53

Can you return a lease car 1 day after sale
Comment from : @federalworker9918

I'm Thinking About A Lease But Not Sure If It A Good Idea For A 36 Month Lease?brHere Are Details BelowbrbrMSRP/Retail - $74,22800brRebate/Savings - $1,50000brAdjusted Sale Prices - $72,728brGovernment Fee - $20025brProc/Doc Fee - $15000brAccessories - $1,19500brAcq Fee - $650brTrade In Value - $35,500brTrade Payoff - $10,000brResidual Value $46,76400
Comment from : @semajluwensky907

I can't find any advertisement for $0 car lease deals How do you go about finding/negotiating this?
Comment from : @SiDPT15

Can they change the residual at their discretion?
Comment from : @chrislamb7695

When you say to not put any money down you talking about after paying tax, title , registration ?
Comment from : @kevincordero8802

Great content
Comment from : @jbocaneg17611

i am looking for a lease now after pendemic after interest rate goes up after ev credit issues ect… they are giving me horrible numbers i will update my offer on comments soon
Comment from : @makkollier5891

But how do you find out what the base money factor is at different brands so you’ll know how much markup they have into the deal
Comment from : @C_Hood