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Toyota Lease Residual Calculations??
I'm about to lease a new 2007 Camry Le and was wondering how toyota calculates their residuals. I know from other forums that they don't do it like other car manufacturers where they take the full MSRP(destination charges + options) and multiply that by the percentage. They use the base msrp(no destination charge and options) to get to a residual. Does anyone know how they figure out total residual once you factor in the destination charge and options? By them doing it this way it's costing me almost $15 more a month on the lease. Can someone post some numbers as an example how a toyota lease works. Right now the way I do it is:
MSRPxResidual Percent=Residual Value,
Cap Cost-Residual Value= Depreciation Value
Depreciation Value/Terms of lease=Rent Charge,
(Residual Value+Cap Cost)xMoney Factor= Finance Charge.
Then you add the Rent charge and the finance charge plus your local tax to get payments. How is the toyota lease differ from this?
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