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Understanding Car Lease Residuals South Elgin IL

Residual value estimates can be different, depending on who is doing the estimating. One dealer who uses a particular lease company may offer a significantly different residual value than another dealer who uses a different company, for exactly the same vehicle and same lease.

Hertz - 1040 East Chicago Avenue HLE
(847) 531-6304
1040 East Chicago Avenue
Elgin, IL
Hours
Mo-Fr 0730-1800
Sa-Su Closed
Special Services
Child Seats, Hand Controls for Disabled Drivers Only , Replacement Rentals When your car is in the shop for repairs.Insurance/Body Shop and Dealership/Service Center replacement rentals available at this location.for replacement rental reservations., Gold Counter Service , Pickup/Return Service:Available with a one hour advance notice and within 15 minutes from the Hertz Local Edition location. Contact the location to arrange for Pick Up service.
Additional Information
Pick up time must be at least one hour after location opening and one hour prior to location closing.

Enterprise Rent A Car
(847) 741-2002
910 E Chicago St
Elgin, IL
 
Lemus Auto Repair
(847) 741-6960
338 S Mclean Blvd
Elgin, IL
 
Enterprise Rent-A-Car
(847) 488-9990
400 S Randall Rd # E
Elgin, IL

Data Provided by:
Penske Truck Rental
(847) 531-5173
450 Airport Rd
Elgin, IL
 
Dollar
(847) 488-1712
300 S Mclean Blvd Ste Main
Elgin, IL
 
Enterprise Rent-A-Car
(847) 741-2002
910 E Chicago St
Elgin, IL

Data Provided by:
Absolute Rent-A-Car
(847) 888-9100
353 Willard
Elgin, IL
 
High Tech Auto Body Shop Inc
(847) 622-7450
158 willard ave
Elgin, IL
Hours
Friday: 8:00 am – 6:00 pm Saturday:8:00 am – 6:00 pm Sunday: Closed Monday 8:00 am – 6:00 pm Tuesday: 8:00 am – 6:00 pm Wednesday: 8:00 am – 6:00 pm Thursday: 8:00 am – 6:00 pm
Special Services
Auto Body Shop, Automobile Body-repairing & Painting, Auto Dent Removal Service, Auto Collision, Auto Restoration Service

Hertz Rent A Car
(847) 695-7837
495 Airport Rd
Elgin, IL
 
Data Provided by:

Understanding Car Lease Residuals

Residual value ("residuals"), in car leasing, refers to the estimated — repeat, estimated — value of a leased vehicle at the end of the scheduled lease period. The longer the lease, the lower the residual value, as compared to the original MSRP sticker price.

Residual values play a key part in the calculation of lease monthly payments since leases are based on the difference between residual value and negotiated selling price. The higher the residual, the lower the lease cost for a given selling price. See .

What are residuals?
Car lease residuals are a statement of the expected depreciation of a vehicle's value over the life of a lease. The value can be affected by a number of factors, including expected average annual mileage, number of months in the lease, make/model vehicle, resale history, predicted future supply and demand, rise/fall in gas prices, and anticipated future economic conditions. In short, lease residuals amount to nothing more than an educated guess.

Who sets car lease residual values?
Residual value estimates can be different, depending on who is doing the estimating. One dealer who uses a particular lease company may offer a significantly different residual value than another dealer who uses a different company, for exactly the same vehicle and same lease. It is often misunderstood by consumers that residuals are fixed for a particular vehicle make and model.

There are industry sources (ALG...

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