Auto Lease Calculator
Estimate a monthly car lease payment from price, down payment, residual value and rate.
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How to do it
- 1Fill in the boxes
Type your numbers or pick the options you need.
- 2See the result
The answer updates right away as you change a value.
- 3Use it
Copy the result or note it down. Nothing is sent anywhere.
About this tool
Enter the vehicle price, your down payment, the residual value as a percent of the price, the term in months, the APR and local tax. The tool works out the depreciation and finance charge and the monthly payment. Residual value and the money factor are set by the lessor, so use their quoted numbers for an exact result.
How a lease payment is built
A lease payment has two parts: depreciation, which is the price you pay minus the residual divided by the months, and a finance charge, which is the money factor times the sum of the capitalized cost and residual. The money factor is the APR divided by 2,400.
Example
A $35,000 car with $2,000 down, a 58 percent residual and 6 percent APR for 36 months costs about $427 a month before tax.
Tips
Compare the lease with a loan on total cost, mileage limits and end-of-lease fees. A higher residual lowers the payment.
Frequently asked questions
What is the residual value?
What the car is expected to be worth at the end of the lease, set by the lessor.
What is the money factor?
The lease interest rate. Multiply it by 2,400 to get an APR.
Is the down payment worthwhile?
A large down payment lowers the payment but is lost if the car is stolen or totalled early, so many advisers suggest keeping it small.
Does this include fees?
No. Acquisition, registration and disposition fees are extra.