Buying Or Leasing A Car Ballston Spa NY

Are you buying or leasing a car? Here is how to avoid getting ripped off!

Morris Ford Mercury
(518) 399-9188
872 Saratoga Rd
Burnt Hills, NY
Services
Auto Body Repair,Clutch Repair,Truck Dealers,Auto Dealers

Enterprise Car Sales
1637 ROUTE 9
Clifton Park, NY
 
Jims Auto Sales Of Glenville Inc
134 FREEMAN BRDGE RD
Scotia, NY
 
Mohawk Auto Sales Inc
740 STATE ST
Schenectady, NY
 
Mhj Auto Wholesale
428 CHISWELL RD
Schenectady, NY
 
Lewis Henry Auto Sales
1516 ROUTE 9
Clifton Park, NY
 
Spectrum Wholesale
146 SOUTH CENTRAL AV
Mechanicville, NY
 
Gm Motor Sales
1176 BARRETT ST
Schenectady, NY
 
J&G Wholesale
2201 LYNNWOOD DR
Schenectady, NY
 
Tower Auto Sales
1806 STATE ST
Schenectady, NY
 

Buying Or Leasing A Car

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Pop Quiz: What’s the “Money Factor?”
(A) One of the three pillars of capitalism
(B) The reason why your diet for the past week has consisted of ramen noodles and hot sauce
(C) A personal, financial attribute; as in, “He has the wow factor, but not the money factor.”
If you answered any of the above, then you may need to brush up on your car-buying and -leasing terminology. But don't fret. We’ve put together the ultimate crib notes to help you before you head to the dealership.

LEASING
Leasing: It’s the hottest option out there today, and it’s a great way to get behind the wheel of a brand-new car. The leasing world, however, has a language all its own. Here are some handy phrases and their translations.

Residual Value: The guaranteed value of the vehicle at lease end that is used to calculate the monthly payment of a lease. When buying or leasing a new vehicle, choose a make/model with a high residual value to help lower the lease payment.

Realized Value: The actual, fair-market value of a leased vehicle at the time of the scheduled termination of a lease. The realized value may be either the wholesale or retail value of the vehicle, as specified in the lease contract.

Money Factor: Also known as a lease factor, the money factor is the interest rate of a lease contract, expressed as a multiplier to calculate monthly payments. To convert a money factor to a percentage, multiply it by 2,400....


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