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Learn why residual values are so important when it comes to leasing.
The residual value of a car is a very important factor when it comes to auto leasing - in fact - it makes up the largest portion of your monthly lease payment.. The residual value is simply the estimated value of the car at the end of the lease. It's the price at which you can buy the car from the leasing company if you decide to keep it when your lease is up - and this figure is always stated ...
Let's start with a simple definition of residual value. In fact, let's just look at the word residual.Residual means the part that is left after some of it has been taken away.
New study shows that the MINI is the top car brand when it comes to residual car values in the UK MINIs are the best cars at holding on to their value, while models made by Chrysler are the worst ...
Step. Divide the difference by the number of years in the asset's lifespan. Using the example above, divide $15,000 by three years. The residual value of this car is $5,000.
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Find out how quickly new cars lose money. Depreciation is simply the difference between the amount you spend when you buy a car and the amount you get back for it when you sell or trade it in. It's often overlooked or ignored when buying a new car but for many depreciation is the single biggest factor affecting running costs adding more to cost per mile than fuel.