Prospective owner, current Volt lessee

[planet4ever]

Money Factor: 0.00008 (What is this?)

Money factor is like the interest rate on a loan.

0.00008 * 2400 = 0.192% interest

Sorry, Tony, but your decimal point is off by two places because % is per centum, not per unum.

0.00008 * 2400 = 0.192 = 19.2% ($19.20 per $100 per year)

In other words, a very high interest rate, not a very low one.

Ray

 

[cwerdna]

These might help the OP:
http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html" onclick="window.open(this.href);return false;
http://www.edmunds.com/car-loan/leasing-glossary.html" onclick="window.open(this.href);return false;

 

[bwatl]

I appreciate the help everyone. We picked up a charcoal SV on lease with the Premium package and QC port. $1000 down, plus paying the tax up front ($1600). Payment is $280 for 23 months. We just got paid out for another total loss, so we paid a little more down, understanding the risk. AutoNation was much better to deal with than the others we've worked with. Thanks again. BTW, the all around view is awesome!

 

[TonyWilliams]

Sorry, Tony, but your decimal point is off by two places because % is per centum, not per unum.

0.00008 * 2400 = 0.192 = 19.2% ($19.20 per $100 per year)

In other words, a very high interest rate, not a very low one.

Ray

You are absolutely correct!!!

 

[surfingslovak]

Congrats in your decision! Well done.