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FutureStarrAverage Car Lease Payment OR
Leasing a car is an increasingly common idea, especially as auto sales decline. With all the benefits of leasing, the median monthly payment is still higher than the monthly lease payment on a car you buy on your own. But, as cars become more expensive, leasing has become more industry standacccCerage car lease payment
Additionally, most lease contracts include so-called GAP insurance, which would pay the difference if your car is totaled or stolen and you owe more on the lease than the car is worth. Nevertheless, consumers should dhe terms to ensure they're fully covered, according to Edmunds.
Average Car Payment or Effective Car Payments are probably not terms you’ll hear much about from car dealers, financial managers, banks sales reps and financing experts. And, except for here on CarLeaseTips.com, you are not likely to find average car payment listed among any of the jargon and terms inside online car leasing guides. Yet ironically, this is the single most important consideration in leasing a car. Understanding the real payment in terms of what it actually means goes beyond the actual car payments which are advertised by car makers, dealers and in newspaper advertisements. Understanding what it really means, gives you a much better sense of what you are paying to lease or buy a car. So, what is your average or effective monthly payment and how do you calculate it? Your car loan might be $250.00 a month for a $30,000 car, but if you made a $4,000 down payment (or capitalized cost reduction), how much are you really paying for the car? Just because your money is no longer figured into the loan doesn’t mean it’s not costing you or affecting your monthly budget. There is a much more honest way to calculate a monthly car payment. Let’s see what your actual monthly car payment means in real terms of what it does to your wallet and monthly budget. (Source: carleasetips.com)