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Car Loan Calculators
by Dave LaLonde
Staff Writer, LotPro.com
When
buying a new car
chances are that you will have to get an
auto loan or lease
to finalize the purchase. At LotPro.com you can compare
auto loan and auto leasing
with our simple to use car loan calculators. There is often a large difference in payments. Some cars have a better loan payment, while others vehicles have a lower lease payment, even if they have the same price. This happens because unlike
auto loan companies
auto lease companies
use the residual value when calculating the lease payment.
Simple put, the residual value is a factor that predicts the value of the vehicle at the end of the lease.
New trucks
, such as the
Ford F150
and
Dodge Ram
Japanese sedans, such as the
Honda Accord
Toyota Camry
and
Nissan Altima
German coupes, such as
Audi TT
and the
BMW 3 Series
have a high residual value compares to domestic cars like the
Pontiac G6
and the
Chevrolet Cobalt
In addition to the residual value, the lease payment can be reduced by
new car incentives
Many automobile manufacturers use incentives to reduce inventories. Most leasing incentive offered by the manufacturer only apply if you lease the vehicle through the dealership. So prior to signing a contract with a leasing company, credit union, or local bank, you should always compare their lease payment with the lease payment offered by the dealer where you plan on buying the new car.
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