In the midwest a 36 month lease, thru ALLY residual is 56 to 58% depending on the miles per year.
Residual value is what the lease bank thinks the vehicle will be worth at the end of the lease term. They set the residuals. I would say it's trade in value, or what the lease company thinks it will see for at auction.Pat, what is the value at 12 $ 24 months? Also, are the rates you're quoting the trade-in value or retail value? Thanks for the help.