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Buying Or Leasing A Car Ithaca NY

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

B&A Sales
4744 CO RT 4
Burdett, NY
 
Daves Auto Sales
4000 WEST ROAD
Cortland, NY
 
C&L Auto Sales
PB1007 219 S CTHR ST
Montour Falls, NY
 
Upstate Auto Ctr
(607) 756-4450
3990 West Rd
Cortland, NY

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Bayshore Cars & Truck Sales Inc
1490 SUNRISE HWY
Bayshore, NY
 
J&D Auto Sales
3957 RT 11
Cortland, NY
 
Fc Waffner Auto Sales
764 NYS RT 13
Cortland, NY
 
Dynamic Auto and Truck
(607) 256-2277
355 Elmira Rd
Ithaca, NY

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L&M Auto Sales
19 STATE ST
Westbury, NY
 
Transitowne Resale Of Depew
4525 BROADWAY
Depew, NY
 
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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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