Cash
incentive:
The amount of money that the person who wants to get out of a lease is
willing to give to someone who will take over his/her lease. A cash
incentive often consists of cash paid upfront, a refundable security
deposit and or a rebate for unused kilometers that the new person would
be entitled to at the end of the lease. See the comments area of the
vehicles details information sheet to see what cash incentive is being
offered on the vehicle that you’re interested in.
Down
payment:
The amount of money that the person who wants to get out of a
lease is asking for from the person who wants to take over his/her
lease. A down payment is commonly only asked for when the person getting
out of his/her lease has paid a large down payment at the
beginning of the lease and is trying to recoup some of it. These deals
typically have a much lower than average monthly payment as well. Payment
before taxes:
This is the monthly payment that you will make plus applicable taxes. The effective payment is an approximate figure that is calculated by dividing the incentive/down payment by the number of months remaining, and subtracting this amount from the pre-tax payment. *****Please note that as a result of variances in sales taxes between the different provinces, this number should be used only for the purpose of approximation. For a more precise calculation, use the payment include your local sales taxes and subtract/add the monthly incentive/down payment using this figure. |