Car leasing is an important decision in one’s life and it has become a profitable option for both car buyers and car dealers. Usually, the present tough condition of economy leads people to this choice. Yet, many car consumers do not know how car leasing works, or how to decide whether their deal is a good or a bad one. Thousands of people are overpaying during the car leasing process and the only reason is that they do not know how to properly calculate their car lease deal.
So, if you are planning to lease a vehicle or just want to know whether the deal is worth it or not, you need a good car lease calculator.
Car lease calculator is a special type of financial calculator which allows you to calculate your monthly lease payments when other factors and numbers are known. Sometimes a car lease calculator can also find the total lease cost which includes taxes, fees, and financial costs. The necessity of a car lease calculator lies in the fact that car leasing calculations are rather difficult to perform with a simple calculator, and the chance that a fraudulent dealer may cheat you is rather high. Thus, in order to avoid being trapped by unscrupulous dealers, you had better spend some money on buying a car lease calculator than regret losing your hundreds and even thousands of dollars.
Car lease calculator is extremely easy to use. All you need is to know the cap cost (the vehicle price on which the lease is based), money factor (another form of interest rate), term (length of the lease, in months) and residual value (the estimated lease-end value of the vehicle). After you know all these numbers you can insert them into the right spaces in the calculator and you will have a very trustworthy and accurate result. You can get all these numbers from you car dealer. If the latter refuses to provide you with them, then do not lease anything.
With a car lease calculator you can check your dealer’s honesty. If after calculating your monthly payments you find out that your numbers do not match the dealer’s, then be sure he is deceiving you.
A car lease calculator may be helpful even if you do not know all the figures needed to be inserted into the calculator. Just “playing” with the calculator and trying various possible factors, you can get all the answers to your questions.
Now, suppose you are at the dealer’s store and are about to lease a car. We are offering you an extra-convenient tool; lease-smart calculator app for your Android or iPhone. This is particularly handy if you are planning to do all the calculations right in the dealer’s store. Be sure, in this case they will never be able to cheat you with incorrect numbers.