Lease Specials Glendale

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If you're looking for auto leasing in Glendale CA, Future Auto Sales is the place to go to!  We have excellent cars for lease for low monthly payments.  Our lease deals are some of the best in the Los Angeles county and definitely the best payments you can get in Glendale.  
 

How Does A Lease Work?

A lease is not the same thing as buying a car (either cash or financed) nor is it the same as renting a car.  There are a few things you should understand about a lease before entering one.
 

What is a car lease?

An auto lease when you arrange a deal with the leasing company to be able to drive the car you are leasing.  As you make your monthly payments you will not be building any equity on the car.  Instead, your payments are just covering your ability to be able to drive the car.  Most leases are set for 2-3 years.

 

What are my payments doing during the lease?

The way you can figure out what you will be paying on a monthly basis for your car is determined by the vehicle depreciation and your money factor.
 

Depreciation

All cars will depreciate in value as you drive them.  This is where the leasing company accounts for that loss in value and then requires you to pay for that value loss as you drive the car.

When you sit down with the dealer to discuss specifics youu will work out a deal with them and agree on the starting value of the car, which is simply the price of the car.  They'll decide what the car will be worth at the end of the lease.  Now if you get the difference of the price of the car and the value of the car after the lease is over you will end up with what you will have to pay the leasing company to drive the car.  The graphic below shows you what your leasing company will use to determine and calculate the depreciation that you'll be paying on a monthly basis.
 
How Do Leases Work Chart
Bar A: This is the capitalized cost of the car you are leasing which can also be the Lease Price.  This capitalized cost is the value of your car at the beginning of your lease and also any extra fees that your lease issuer might add.  You'll be able to negotiate this number just like the sale price of a car.  The lower this number is, the lower you'll payments will end up going.

Bar B: This is the residual value of your leased car.  The residual value is that your leasing company thinks the value of the car will be at the end of your lease.  This number is based off of historical data in the market and also the number of miles that they expect you to drive per year.  This number is usually 10,000 to 15,000 miles per year.  Most lease contracts will make you pay an extra fee per mile if you go over your mileage after being added up for the length of your lease (they won't check the mileage every year).

If you wish to continue reading about a lease, please visit the source at:  http://www.ifsautoloans.com/car-leasing/