How to Determine the Equity in a Car | Pocketsense – For example, calculate the equity on a 2013 Dodge Charger SXT with 33,000 miles in good condition. Suppose there is an outstanding car loan of $10,500 plus a $150 payout fee. Kelley Blue Book values the car, in good condition, at $20,376. When you do the math, the equity in the Dodge Charger is $9,726.
· Should you lease or buy your next car? You’ll always save by buying a used car and driving it as long as possible. But if you "have to have" a new car, there are pros and cons to both buying and leasing to consider.
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3 Ways to Turn Your Lease Into Cash | Edmunds – 3 Ways to Turn Equity Into Cash. If you have equity in your leased car, here’s how to turn it into cash. Keep in mind, though, that this is advanced car financing:
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Auto Lease Calculator: Vehicle Leasing Payment Estimate – The core difference with a lease is that you are not making payments toward owning that car: you are simply paying to rent the car. At the end of the lease, you have no equity in the vehicle, and must return it to the dealer. For this reason, in most cases, a lease will result in a higher price being paid over the same period. Terminology
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Bankrate.com’s free auto calculators can help you figure out how much car you can afford, how much you should borrow and more.