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FINANCING OPTIONS TUTORIAL

		Finance Payment	Lease Payment
A.	Agreed-Upon Selling Price / Value of the Vehicle	$21,000	$21,000
B.	Plus Acquisition Fee	N/A	+ $595
C.	Gross Capitalized Cost	N/A	$21,595
D.	Down payment	- $2,000	$0
E.	Security Deposit	N/A	$400
F.	Amount Due at Signing	$2,000	$0 + $400 + $376
G.	Amount Financed/Net Capitalized Cost	$19,000	$21,595
H.	Residual value	N/A	- $10,000
I.	Depreciation	N/A	$11,595
J.	APR (Annual Percentage Rate)	10%	N/A
K.	Finance Charge / Rent Charge	+ $4,130	+ $6,438
L.	Total of Monthly Payments	$23,136	$18,048
	Term in Months	48	48
M.	Monthly Payment	$482	$376
N.	End of Finance Contract / Lease Agreement	You own the vehicle	You turn in the vehicle. Option to purchase at lease end for an amount determined at lease signing.
O.	Mileage Charge	N/A	$0.15/mile over 60,000 miles

For purposes of this example, no taxes, title or registration fees have been included. Those amounts will be extra. Lessee pays for maintenance, repair, and excess wear. Payments may be higher in some states. All amounts have been rounded for illustration purposes.

Did You Know?

You can find a payment estimator at www.gmacfs.com that can help you calculate the financing method that's right for you.



Jump to:
1.	Introduction	10.	Length of Financing
2.	Your Financing Options	11.	Leasing Through the Dealership
3.	What You Need to Know About Options	12.	How Mileage Affects a Lease
4.	Financing and Leasing Glossary	13.	Wear, Tear, and Maintenance
5.	Understanding Finance Terms	14.	When a Lease Expires
6.	Understanding Lease Terms	15.	Buy vs. Lease - How to Choose
7.	Payment Options	16.	Buy vs. Lease - An Exercise
8.	At the Dealership	17.	How Lease Payments Differ
9.	Financing Through the Dealership	18.	Exercise Your Options - A Quiz

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How a Finance Payment Compares to a Lease Payment