39-month lease vs 36-month lease which is the better deal?

krodami

I am new to leasing and am a little confused how to spot the better deal.

36-month 10k/yr
$420.26/month Inc tax
Residual $24,017 / 56%
MF 0.00138

39-month 10k/yr
$417.10/month Inc tax
Residual $22,753 / 54%
MF 0.00138

Michaell

krodami said:

I am new to leasing and am a little confused how to spot the better deal.

36-month 10k/yr
$420.26/month Inc tax
Residual $24,017 / 56%
MF 0.00138

39-month 10k/yr
$417.10/month Inc tax
Residual $22,753 / 54%
MF 0.00138

If you multiply the payment by the term, you'll see that the 36 month term will result in a lower total cost.

That assumes that the out of pocket money is the same for both quotes.

kyfdx

krodami said:

I am new to leasing and am a little confused how to spot the better deal.

36-month 10k/yr
$420.26/month Inc tax
Residual $24,017 / 56%
MF 0.00138

39-month 10k/yr
$417.10/month Inc tax
Residual $22,753 / 54%
MF 0.00138

I wouldn’t extend my lease by three months, just to save $3/mo.

But, the amount due at signing is also relevant. What is that number?