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Discussion Starter · #1 ·
Seeing if anyone knows what the buy rate, or approx. rate, is for either Wells Fargo and/or VCF. Looking at leasing an R and this info would be helpful. <p>
 

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Re: Buy Rate? (robert_in_ca)

The term "buy rate" is used for your standard finance contracts. Leases have a lease rate, but is not as straightforward as a buy rate, and they are also dependent on the residual factor. So, even if I knew the lease rates (which I dont', sorry) you would still have to have the residual to be able to compute a monthly payment.
 

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Re: Buy Rate? (I Roll)

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD><i>Quote, originally posted by <b>I Roll</b> »</i></TD></TR><TR><TD CLASS="quote">The term "buy rate" is used for your standard finance contracts. Leases have a lease rate, but is not as straightforward as a buy rate, and they are also dependent on the residual factor. So, even if I knew the lease rates (which I dont', sorry) you would still have to have the residual to be able to compute a monthly payment. </TD></TR></TABLE>Actually the buy rate the is rate (money factor) the bank gives the dealer in which the dealer adds on to so they can increase their profit. I've leased 7 cars in the last 10 years so I have received this number before. And yes it is commonly referred to as the "buy rate".
 

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Re: Buy Rate? (robert_in_ca)

So are you trying to lease a car for free?<p>Prime is 7.75%. So ballpark it and say that the buy rate on the lease is about 1.5 points less at 6.25. Convert that into decimal format (0.0625) and divide that by 23.666, and you get a money factor of .00264. Run your numbers off of that, as that should be about average for the average leasing company, with good credit.<p>Naturally, the lease rate you qualify for is dependant upon your credit score/profile . . . so there will be some fluctuation in the money factor based upon your qualifications. But if you're just trying to work up some example payments, that money factor will suffice. <p>OR -- you could actually call a retailer, tell them what vehicle, equipment, term, and miles you want, and get some cold, hard, real lease quotes.
 
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