Not all vehicles are created equal, and that goes double when it comes to re-sale value, a key component in determining automotive lease rates. Because of this phenomenon, monthly lease payments for some expensive vehicles can actually be less than those for lower-priced vehicles. But tracking down these “deals” was a hit-and-miss proposition until now. Recently, Automobile Consumer Services (ACS), a leader in online, direct-to-consumer auto leasing, has added a new service to its popular leasing services.
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As proof that cheap vehicles don’t always carry cheap lease rates, a Ford Taurus SEL that has a purchase price of $24,522 carries a $461 monthly payment, based on a 48-month lease, while a Lexus ES 330 with a purchase price of $31,155 can be had for a $429 monthly payment. The key determining factor here is residual (or re-sale) value. The Lexus will drop more than half of its value in four years, but the Ford will only be worth about 25 percent of its purchase price at the end of the 48-month lease period.
By changing the payment range, term, credit score, miles per year and down payment, a new list of vehicles instantly becomes available on the web page. This tool saves the consumer a great deal of time shopping and is perfect for those on a monthly budget.
This new “Compare by Payments” option can be found on the LeaseCompare home page. Those interested in using this new service should note that quotes provided are real lease payments. A customer selects a vehicle from the list and applies for credit. With credit approval, ACS secures the vehicle for the selected payment, prepares the paperwork, and arranges for delivery.
Tagged with: lease • re-sale value
Filed under: Buy A Car