6 Maserati Lease Terms to Familiarize Yourself With

When it comes to financial matters, you definitely don’t want to make a bad decision. This is why if you are planning to lease a Maserati vehicle, it pays to have all the information you need. A good place to start is knowing these key Maserati lease terms.

Money Factor

Like with financing, leasing involves paying interest on your monthly payments, which is referred to as the money factor. It’s a little more complicated than buying, however. The number will look something like this: 0.00030. You’ll need to multiply that by 2,400 to calculate your APR (annual percentage rate).

Term

The term is the length of your lease. It will be up to you to decide what this is. You can lease a vehicle for as few as 12 months or perhaps as long as 60 months.

Capitalized (Cap) Cost

The cap cost is the total amount you agree to pay for your lease, which includes the value of the car, along with interest.

Capitalized Cost Reduction

Anything you use to lower the cap cost is the cap cost reduction. This could involve a down payment or maybe a trade-in vehicle.

Residual and Depreciation

The residual is the value of your car when the lease is over, and this is calculated ahead of time. Much of this includes depreciation, which is the vehicle’s loss in value.

Gap Insurance

Gap insurance provides coverage if your car is stolen or totaled in an accident. It will fill in the gap between the money left on the lease and what insurance will cover.

Helfman Maserati of Houston will help make the leasing process easy. Contact us if you have any questions or concerns.