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Dan Cummins Auto Group

Dan Cummins Auto Group Research Center:
Leasing a Vehicle

How do I know what my payment will be? What is the difference between leasing and buying? These are common questions that arise when customers think about leasing a vehicle. Browse our video gallery and blogs to answer some common questions related to leasing.

Frequently Asked Questions

The 20-Percent Rule

Finding the Residual Value

Low-Mileage Car Leasing

Options for the End of a Car Lease

How Do I Calculate a Lease Payment?

Before you start, you will need to identify six figures. These are:

  • MSRP
  • The money factor, or the interest rate you’re going to pay during your lease.
  • Lease Term
  • Residual Value
  • Rebates
  • Fees
Once you have these figures, follow the steps outlined below:

  1. MSRP X Residual Value Percentage = Residual Value
  2. Negotiated Selling Price of Car + Fees = Gross Capitalized Cost
  3. Gross Capitalized Cost – Down Payment & Rebates = Adjusted Capitalized Cost
  4. Adjusted Capitalized Cost – Residual Value = Depreciation Amount
  5. Depreciation Amount / Number of Months in Your Lease = Base Payment
  6. (Adjusted Capitalized Cost + Residual Value) x Money Factor = Monthly Charge
  7. Monthly Charge + Base Payment = Pretax Lease Payment
  8. Tax Rate x Pretax Lease Payment = Total Lease Payment

Why Should I Lease From Dan Cummins?

At Dan Cummins, we make it easy to get into a new vehicle lease! No need to worry about large down payments, hidden fees, or tedious paperwork. With the Dan Cummins Lease Advantage, you get a hassle-free leasing experience with no fine print. Enjoy the simple, transparent process that Dan Cummins has to offer!

The Dan Cummins Lease Advantages are:

No Negative Equity at Conclusion of Lease Term
Lower Monthly Payments
Shorter Terms
Guaranteed Options

Lease Deals Near Lexington

Dan Cummins Auto Group 38.1959486, -84.2730149.