Buying Or Leasing A Car East Lansing MI

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

Rpm Auto Sales
(517) 882-2961
5436 S Cedar St
Lansing, MI

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Ed's Car Sales
(517) 482-0470
800 N Larch St
Lansing, MI

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Main Street Auto Sales
(517) 625-8584
201 S Main
Perry, MI

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Harbor Toyota
(231) 733-1478
1050 Fulton Street
Grand Haven, MI
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Bill Marsh Ford
(231) 258-9192
408 W Mile Road
Kalkaska, MI
Services
Clutch Repair,Fuel Injection Repair,Radiator Repair,SUV Repair,Van Dealers,Used Car Dealers,Auto Dealers

Motorcars Of Lansing Inc
(517) 882-8030
6505 S Pennsylvania Ave
Lansing, MI

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Paradise Motors Sales
(517) 627-3900
8212 W Saginaw Hwy
Lansing, MI

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Countryside Motors & Leasing
(517) 589-5000
4760 Churchill Rd
Leslie, MI

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Gaylord Ford Lincoln Mercury Inc
(989) 732-6737
1928 S Otsego Ave
Gaylord, MI
Services
Emissions Testing,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

Manistee Ford Mercury
(231) 723-9975
3471 Grant Highway
Manistee, MI
Services
Clutch Repair,Radiator Repair,Tune up Repair,Used Car Dealers,Auto Dealers

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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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