A question on car leasing - [early termination arithmetic]
13 January 2004, 12:10 PM
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Car value when new £22K
4 year / 25K miles pa
Monthly lease rental £450
If you break the lease after one year / 25K miles you will have paid 12 x £450 £5,400.
The trade value of the car might be £14K
So, the leasing company has lost £8k on car's value but gained £5.4K though the lease.
How much would you expect the early termination cost to be?
4 year / 25K miles pa
Monthly lease rental £450
If you break the lease after one year / 25K miles you will have paid 12 x £450 £5,400.
The trade value of the car might be £14K
So, the leasing company has lost £8k on car's value but gained £5.4K though the lease.
How much would you expect the early termination cost to be?
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