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Originally Posted by 2007-x5
yeah i know about the 0.0 special but thats for the 2008 models and im looking to get a 2009 ...to answer your question the residual is figured like so: monthly payment x lease deal term + down payment / msrp
so in my case is 960 x 36 + 4000 divided by 57000 wich is 67% residual
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That is not the definition of residual. Residual value is what figure is used in the calculation for the value at the end of the lease. We don't have all the lease calculation variables for your example, but your calculation above is not correct. A closer calculation is (57,000-4000-(PM*36))= residual. The payment (PM) then has taxes added back onto it as well. There are other factors, but that is a starting point.
You can't use your (payment including tax) in the calculation. But if you could, using your numbers, your figures would show a residual of 33%, not 67%. Your total payments equal 67%.
Leases are often used to hide the true cost of a vehicle.
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2007 X3 3.0si, 6 MT, Premium, White
Retired:
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