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Lease and finance terms in plain language, so you can read any deal and spot what does not add up. No jargon, no games.
The price the manufacturer recommends the dealer sell the car for. Also known as the sticker price.
The negotiated price of the vehicle, plus any fees or taxes that are rolled into the lease. This is the starting point for calculating your lease payments.
The estimated value of the car at the end of the lease term. A higher residual value generally means lower monthly payments.
The interest rate on a lease, expressed as a small decimal fraction. To convert it to an approximate annual percentage rate (APR), multiply by 2400.
A fee charged by the leasing company at the end of the lease to cover the costs of preparing the vehicle for resale.
An administrative fee charged by the leasing company to set up the lease. Also known as a bank fee.
A nine-digit number issued to US citizens, permanent residents, and work-authorized residents. An SSN is required to lease or finance with us. If your US credit is thin or new, we match you with lenders friendly to first-time borrowers, and a co-signer can help.
A number from your credit history that lenders use to price your rate. Being new to US credit is common, not a dead end: we show which tier you fall into and find a lender that works with thin files. An SSN is required.
A soft pull previews your credit with no effect on your score, so you can see your real payment first. A hard pull is the formal approval check and dips your score a little for a short time. Hunter Lease starts with a soft pull and runs one hard pull only at final approval.
A person with good credit who signs the lease with you and assumes legal responsibility for the payments if you default. Often used by international students.
Any upfront payment, trade-in allowance, or rebate that reduces the capitalized cost of the lease, thereby lowering the monthly payments.
The total cash due up front at signing: first month, fees, and any down payment. We show it in full, so a $0-down deal is honestly $0, with nothing hidden in the monthly.
The yearly cost of borrowing as a percent. For a lease, money factor times 2400 gives the approximate APR, so you can compare a lease rate to a loan rate on the same scale.
Refundable deposits some captive lenders accept to lower your money factor, and your monthly, returned in full at lease end. A legitimate way to cut the rate; it never hurts your Hunter Score.
A dealer paperwork fee. California caps it at $85, so anything higher is not standard. We list fees line by line so you can check each one.
The miles per year included in the lease, often 10k, 12k, or 15k. Going over costs a per-mile fee at the end, commonly 15 to 25 cents. Pick the allowance that fits how you drive so you do not overpay either way.
Covers the difference between what you owe and the car's value if it is totaled or stolen. It is often already included in a lease, so check before paying for it separately.
Your right to buy the car at lease end for its residual value plus fees. Worth it when the car is worth more than the residual.
Three ways to get the car. Lease: lowest monthly, return or buy at the end. Finance: you own it after the loan and build equity. Cash: no interest, paid in full up front. We show all three side by side so you choose on the numbers, not on pressure.
Our 0 to 100 score for how good a deal is versus the best realistic price for that car. Higher is better, and we show how it is calculated on the Hunter Score page.