Gmac Auto Leasing
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Who are the Players in Setting up a New Car Lease Youd be Surprised
By Ralph Hoffmann
Before a customer can lease an auto through a dealer, several parties are involved to determine the residual value and the interest rate of the proposed auto lease. And understanding how residual values and rates are determined will help in negotiating a lower price.
Where does the money come from to pay the manufacturer?
First, a bank, credit union, pension plan or automobile manufacturer's leasing or lending subsidiary (commonly called a "Money source") agrees to provide funds to pay the dealer the selling price of the auto. The Money source must then find someone to determine residual values for every auto it proposes to buy from a manufacturer.[ Read Article ]
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