Lease Payment Calculator
Estimate a monthly car lease payment from the price, the money you put down, the value at the end of the lease, the rate and the length. It shows the two parts of a lease payment, which helps when you compare offers.
- Free
- Works offline after your first visit
- Saves on this device
- No sign-up
- Updated
How it works
One part of the payment covers the car losing value during the lease: the price minus the down payment and the end value, spread over the months.
The other part is the finance charge. Add the price and end value after the down payment, then multiply by the rate divided by 2,400, which gives the money factor. Taxes, fees and mileage charges are not in this estimate.
Worked example
On a car priced at $32,000.00 with $2,000.00 down and a value of $19,000.00 at the end, a lease at 4.5% over 36 months costs $397.43 a month, or $14,307.50 in all.
Questions
What is the residual?
It is the value the lease company expects the car to have when the lease ends. Ask for it in writing, because a higher residual usually lowers the monthly payment.
Is the money factor the same as the rate?
It is a different number. The money factor is the rate divided by 2,400, and some offers quote it instead of a rate, so multiply it by 2,400 to get the rate to enter here.
Does this show the full cost?
No. It leaves out taxes, fees and any charge for going over the mileage limit or for wear. Add those from the offer to get the full cost.
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