Buying Or Leasing A Car Binghamton NY

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

R&S Motor Sales
1250-1 UPPR FRONT ST
Binghamton, NY
 
Dependable Auto Sales & Service Inc
1055 FRONT ST
Binghamton, NY
 
Cordisco Auto Sales Inc
313 HARRY L DR
Johnson City, NY
 
Key Auto Sales
826A ROUTE 7 PBX 524
Port Crane, NY
 
Automotion Auto Sales
PB 5544 131 BRBNK AV
Endicott, NY
 
Vosburys Conklin Auto Sales
796 CONKLIN RD
Binghamton, NY
 
Joseph E Miller Auto Sales
447 COURT STREET
Binghamton, NY
 
Richard J Trencansky Auto Sales
695 MAIN STREET
Johnson City, NY
 
Top Dog Auto Sales
464 SOUTH STREET
Chenango Forks, NY
 
Penny Pincher Sales
830 DUNBAR RD
Windsor, 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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