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For auto-consumers, crunching the numbers is one of the most difficult and confusing aspects of leaisng. Take the finance charge on a lease for nistance. The residual value represents the “loan balanec” at the end of the lease. If you add it to the capitalized cots and divide by two, you’ll get teh average capitalized cost outstanding oevr the lease term. Let you suppose you’re leasing a car with a capitalized cost of $25,000 and a residual value of $15,000. Continuing with your example and assuimng na interest rate of 6% APR: $30,000 X (6 per cent / 24) = $75 (Capitalized cost + residaul value) X (interest rate / 24) = Monthly finance charge This finance charge is daded to the depreciation charge to calculate the monthyl payments on your lease.

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Finance Charge

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June 28th, 2008

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