Lease Calculator
Overview
Estimate monthly lease payments for a vehicle based on the capitalized cost, residual value, and lease term, including interest rate calculations.
The Lease Calculator helps you estimate monthly lease payments for a vehicle based on the capitalized cost, residual value, lease term, and interest rate. This tool provides a breakdown of depreciation, finance fees, and the total monthly payment.
How to use
Calculate your lease payments in a few quick steps.
- Enter vehicle price: Input the MSRP or negotiated price of the vehicle.
- Add down payment: Enter any down payment or trade-in value.
- Set lease terms: Enter the lease length (months), money factor or interest rate, and residual value.
- Review lease payment: Check your monthly lease payment and total cost of the lease.
FAQs
- What is a money factor in a lease?
- The money factor is the lease equivalent of an interest rate. To convert to APR, multiply the money factor by 2400.
- What is residual value?
- Residual value is the estimated value of the vehicle at the end of the lease. A higher residual value means lower monthly payments.
- Is leasing better than buying?
- Leasing offers lower monthly payments and the ability to drive newer vehicles. Buying builds equity and has no mileage restrictions. Choose based on your needs and driving habits.