![]() Second, a car lease calculator allows consumers to determine how much car they can afford to lease, based on “working backward” with the results. Our car lease payment calculator uses the same industry-standard lease formula that dealers and lease finance companies use. We are often asked what’s wrong with our calculator when the results don’t match a dealer’s. If the numbers entered into the calculator are exactly the same as the numbers used by a dealer in his calculations, the results will be exactly the same, down to the penny. Being able to use it on your phone or tablet right from the dealer’s office gives you power to help control your lease deal as it is taking place.įirst, it allows consumers to verify the correctness of a car dealer’s math in a lease offer or lease contract. About Calculating Car Lease PaymentsĪ lease calculator is important when leasing a car for a number of reasons. However, if you chose to include it in the financed lease cost, you should include that tax amount in your Cap Cost above. If Sales Tax is charged up front as a lump sum, you probably paid it in cash. ![]() Sales Tax is only shown if you entered a Tax Rate above. Monthly Payment is calculated from the above parameters using the industry-standard lease payment formula. Tax Rate should be used here only if your state taxes individual monthly lease payments. If you have Money Factor instead, multiply it by 2400 to get APR Interest Rate Residual value is affected by the Lease Term. Lease Term is the number of months in a lease. Residual Value is the value of a vehicle at the end of the lease, as set by the lease company. If you only know the Residual Percentage, multiply it by the car’s MSRP (sticker price, not negotiated price) to get Residual Value. However, if your loan amount is more than the trade value, you are “upside down”, and the difference ( negative equity) between loan amount and trade value must be added to your Cap Cost above. If you have an outstanding car loan that is being paid off by the dealer as part of the trade deal, enter only the amount of the difference (your equity) between the loan amount and the trade value. ![]() Trade-In Credit is the credit amount offered for a trade-in vehicle. ![]() Do not include official fees, taxes, first month’s payment, or other charges that you’ll pay up front at time of signing. It serves to reduce monthly payment amount. Use this easy car lease calculator to quickly find monthly payment amount and sales tax on each payment (in most states) by entering basic lease parameters.Ĭap Cost (Capitalized Cost) is the negotiated price of the vehicle, plus any other costs and fees that will be financed in the lease (not paid up front).Ĭap Cost Reduction (Capitalized Cost Reduction) is any cash down payment paid up front, sales tax credit, or rebate, not including first month’s payment, that hasn’t already been deducted from Cap Cost. FOR ACCURACY, THIS CALCULATOR USES THE SAME INDUSTRY-STANDARD LEASE FORMULA THAT DEALERS AND LEASE FINANCE COMPANIES USE ![]()
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