Everything people ask before they sign

Four things. Depreciation, which is the part of the car you use up: cap cost minus residual value, divided by the number of months. Rent charge, which is the finance cost: cap cost plus residual, multiplied by the money factor. The coverage bundle, which is insurance, maintenance, tyres, roadside and registration. Then Georgia tax on the total, shown at a sample 7.0 percent. The calculator on this site prints every line.

A money factor is a lease rate expressed as a small decimal, for example 0.00215. Multiply it by 2400 and you get the equivalent APR, in this case 5.16 percent. The multiplier is 2400 because the money factor is applied to the sum of cap cost and residual rather than to a declining balance. Any subscription or lease quote that will not tell you its money factor is hiding the finance cost.

Residual value. A RAV4 holds 62 percent of MSRP at 36 months while a Colorado holds 54 percent, so the RAV4 depreciates less even though it costs more up front. Depreciation is the biggest line in your payment, so the stronger residual usually wins. The residual and depreciation panel on this site shows the curve for every car and every term.

There is a start fee, between $695 and $995 depending on the car, and it covers the first inspection, registration, tag work and delivery preparation. It is not a security deposit and it is not refundable, which is why we call it a fee rather than a deposit. There is no down payment and no capitalised cost reduction.

Every figure on this site is a sample used to show the method. Your actual rate depends on credit approval, the vehicle we can source, your mileage band and the tax position in your county. The rate sheet is published monthly and the desk will walk you through your own numbers on a call.

Take your current odometer reading, subtract the reading twelve months ago and use the real number rather than the number you would like it to be. The comparator on this site takes your annual mileage and shows the band cost plus any overage side by side, so you can see whether paying more per month beats paying $0.25 a mile at the end. Most Midtown members land on 7,500 and most Sandy Springs members land on 15,000.

You are charged per mile over the band at the end of the subscription: $0.25 on Flex and Standard, $0.20 on Premium. Nothing is charged mid-term and nothing is charged for being under. You can move up a band at any time and the new rate applies from the next invoice, which is almost always cheaper than paying overage.

Yes, within your plan's allowance. Flex is one swap every 60 days at $149, Standard is two a year at $99, Premium is four a year with no fee. A swap is a new agreement on the new car at that car's rate, so moving from a Civic to a Telluride will change your payment. The swap and exit ladder on this site shows what happens in each month of a subscription.

On Flex, nothing: give fourteen days notice. On Standard, if you leave before month six you pay the remaining months at 50 percent, capped at three months. On Premium, before month twelve, the remaining months at 40 percent, capped at four months. The ladder tool prints the number for the exact month you are in.

Yes, after month three, for a $350 transfer fee. The incoming member goes through the same credit and licence checks and the car is inspected at handover. This is the cheapest way out of a Standard or Premium commitment if you find someone who wants the car.

They are current model year vehicles with fewer than 8,000 miles when they join the fleet, and they leave the programme at 45,000 miles. You will not always get a car with delivery miles, and we tell you the odometer reading before you sign rather than at handover.

We publish thresholds rather than opinions. Dents and dings under two inches across with no paint breach, scratches under four inches that do not reach primer, up to four stone chips per panel, tyres at or above 4/32 inch tread, and windscreen chips smaller than a quarter. Anything outside those is chargeable, capped at $1,500 per return, and you get the inspection photographs either way.

We do, and it is in the monthly payment. Liability and comprehensive with a $500 deductible on Flex and Standard, $250 on Premium. Your own policy is not required and you are not added to ours as a named insured in the usual sense: you are a permissive driver under the fleet policy, and additional drivers in your household are added free of charge after a licence check.

Those are yours. The subscription covers the car and everything that keeps it running: it does not cover what you put in it or where you park it. Peach Pass tolls are billed to you directly by the tag on the windscreen.

A valid US driving licence held for at least two years, proof of Georgia address, and consent for a credit check. The application on this site takes about six minutes and gives you a decision in one business day. Approvals are typically issued at a 640 FICO score or above, and a co-applicant is an option below that.

If the car you want is in the fleet, usually three to five business days from approval. If we need to source it, plan on two to four weeks. The desk will tell you which situation you are in before you complete the application, not after.

Yes, for companies with between one and twenty vehicles. Billing consolidates to one invoice, drivers are added and removed without restarting the agreement, and swap allowances pool across the account. There is a dedicated page for it on this site.

We will value your current car and pay it out, including settling finance where there is a balance. The valuation form on this site gives you a sample range in a day, and a firm number after a 20 minute inspection at any hub.