Ready to buy

[LeftieBiker]

Didn't calculate the money factor, all the fees are included in the calculations, and the price still, after a recalculation, comes out to a bit *less* than the sticker price at the time we leased it. The car had $1k of options that we got almost free. Will get almost free, rather - the lease ends in September and we'll be buying it then. It was the best deal Toyota ever offered on the car, and will probably remain so. Just goes to show you that every rule has its exceptions.

Money factor is not a calculation. So how much was your money factor and lease acquisition fee?

What do you mean by sticker price? Is that the MSRP or your cap cost?

Money factor is in effect a calculation: you multiply a figure that looks like a spark plug gap setting by 2400 to get the interest-equivalent rate. Not a *difficult* calculation, mind you... anyway, I'm saying that our total cost for the car over, say eight years will be no more than if we had bought it, presumably also with an interest charge. Money factor is important to many people who continually lease cars, but if your intent is to buy the car, then total cost is more important, because you end up owning the car. I say we agree to disagree! ;-)

 

[QueenBee]

Didn't calculate the money factor, all the fees are included in the calculations, and the price still, after a recalculation, comes out to a bit *less* than the sticker price at the time we leased it. The car had $1k of options that we got almost free. Will get almost free, rather - the lease ends in September and we'll be buying it then. It was the best deal Toyota ever offered on the car, and will probably remain so. Just goes to show you that every rule has its exceptions.

Money factor is not a calculation. So how much was your money factor and lease acquisition fee?

What do you mean by sticker price? Is that the MSRP or your cap cost?

Money factor is in effect a calculation: you multiply a figure that looks like a spark plug gap setting by 2400 to get the interest-equivalent rate. Not a *difficult* calculation, mind you... anyway, I'm saying that our total cost for the car over, say eight years will be no more than if we had bought it, presumably also with an interest charge. Money factor is important to many people who continually lease cars, but if your intent is to buy the car, then total cost is more important, because you end up owning the car. I say we agree to disagree! ;-)

Nope, money factor is not a calculation, you are confusing money factor and the calculated interest rate from the money factor. Since you refuse to answer my questions about what your money factor and lease acquisition fee is and what you mean by sticker price I have no choice but to think both are not 0 and therefore whatever magic math you are using to get your purchase price/cap cost + lease acquisition fee + interest to = purchase price is incorrect.

Since you refuse to provide evidence of your likely inccorect assertion that you will pay less by leasing + purchasing than if you just purchased it I guess I'll give up trying to better help you understand the reality if leasing.

Hopefully others considering a lease will better understand the two major factors that cause leasing + purchasing more expensive than just purchasing. Then they can determine if spending that much is worth the safety of being able to retun the car after the lease.

I decided this was worth it to me as who knew what would happen with this new tech and if 2012 prices would come down significantly or new models come out with huge improvements. Or if I'd even like the car. After two years in a mild climate with out a doubt I'll be buying the lease out.