<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">You guys need to be asking what the money factor is,price of the car after taxes and fees,and the residual is on the leases to determine if you are getting a deal or the shaft. </div></BLOCKQUOTE>
Dan: Can you explain the money factor in layman's terms?
[edited]
I just saw your other post explaining your personal financing. I then went to the GMAC website and worked through the SmartBuy example.
NOW, I get it.
Depending on the deal, you pay less up front. You may pay more on the back end if you decide to refinance the remaining amount. However, because the present value of money > future value of money, you're better off with that money now rather than later.
Question: are you accumulating equity with SmartBuy?
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