Lease Car Calculator

The Lease Car Calculator helps users estimate monthly payments, total costs, and cost per mile for a car lease based on price, down payment, lease term, mileage, residual value, and interest rate.

Use Our Lease Car Calculator

Guide to Using the Lease Car Calculator

This guide will walk you through the process of using the Lease Car Calculator to determine your leasing costs. Follow the steps below to input all necessary information and calculate your results.

Step 1: Enter Car Details

  1. Car Price:

    Start by entering the price of the car you wish to lease. Make sure the value is between $1,000 and $500,000.

  2. Down Payment:

    Enter the amount you are willing to pay as a down payment. This value should be zero or greater.

Step 2: Select Lease Options

  1. Lease Term:

    Choose the duration of your lease from the available options: 24 months, 36 months, or 48 months.

  2. Annual Mileage:

    Select your expected annual mileage. The options available are 10,000 miles, 12,000 miles, or 15,000 miles.

Step 3: Input Financial Details

  1. Residual Value (%):

    Enter the residual value percentage, which should be between 1% and 100%.

  2. Money Factor (Interest Rate):

    Lastly, provide the money factor, which represents the interest rate applied. Ensure that this value is between 0.001 and 0.009.

Step 4: Review Results

Once you have entered all the necessary inputs, the calculator will automatically compute the following:

  1. Monthly Depreciation Fee:

    The cost associated with the car’s depreciation over the lease term.

  2. Monthly Finance Fee:

    This fee includes the interest applied to the lease.

  3. Total Monthly Payment:

    The sum of the monthly depreciation and finance fees, representing the total monthly leasing cost.

  4. Total Lease Cost:

    The overall cost of leasing the car, including the down payment and monthly fees over the entire lease term.

  5. Cost Per Mile:

    This represents the cost associated with each mile driven under the lease agreement.

Conclusion

By following these steps, you can effectively use the Lease Car Calculator to understand the financial implications of leasing a car based on your specific preferences and financial parameters. Make sure to review the calculated results to ensure they align with your expected budget and leasing goals.