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Ing to Leaseguide.com, a lease deal with a money factor of less than . 0017 is a good deal ? this equals 4.08%. Residual Value: This is the assumed value that the car will be worth at the end of the lease term.

If the interest rate is too high, you may need to shop around for a better rate, negotiate with the dealer or lender to lower the money factor, or consider leasing another vehicle that's more in line with your budget. Either way, make sure you explore all your financial options before taking a car off the lot.

The money factor is directly determined by a customer's credit score. The higher the credit score, the lower the money factor on a lease, and vice versa.

The interest rate (?money factor?) - another major factor that can be negotiated, especially if you have an excellent credit score (740 or higher).

Money factor: The money factor is similar to an interest rate. You can usually negotiate with the dealer to get a lower money factor, which helps you pay less interest over time.

If you're on a tight budget, leasing might be a cheaper option. Limits your vehicle options: Because financing a car is more expensive than leasing upfront, it might limit the types of vehicles you can realistically afford. Cost of maintenance: Financing a car means you're responsible for all maintenance costs.

Leasing a car can make more sense than an outright purchase under specific circumstances. The most significant factor is your average annual vehicle miles. If you put less than 15,000 miles per year on your car, leasing might be a good option. Mileage is a crucial element in determining your car's resale value.

Negotiate the terms of your lease To be the best negotiator, check current pricing on sites like Kelley Blue Book and remember to negotiate more than just price. A good lease deal is one that will leave you paying as little over the lifetime of the loan as possible ? initial down payment included.