Auto Lease Calculator

Use our auto lease calculator to estimate your monthly lease payments and total cost of leasing. Compare different lease terms and options to find the best deal for your situation.

Car Lease Calculator

Calculate your monthly lease payment, total cost, and see a detailed breakdown of all fees and charges.

Vehicle Information

Enter the manufacturer's suggested retail price (MSRP) for the vehicle

Enter the amount you'll pay upfront

Enter the value of your trade-in vehicle (if any)

Enter your local sales tax rate

Lease Details

Percentage of MSRP the vehicle is expected to be worth at lease end

Enter the money factor (similar to interest rate, multiply by 2400 to get APR)

Select the length of your lease term in months

Select your annual mileage allowance

Fees & Charges

Fee charged by the leasing company to set up the lease

Fee charged at the end of the lease when you return the vehicle

Fee for processing the lease paperwork

Any additional fees associated with the lease

Summary Preview

Vehicle Price:$30,000
Down Payment:$3,000
Trade-in Value:$0
Lease Term:36 months
Annual Mileage:12,000 miles/年
Residual Value:60%
Money Factor:0.00125

How Car Leasing Works

Car leasing is essentially a long-term rental agreement where you pay for the vehicle's depreciation during the lease term, plus interest and fees. Unlike buying, you don't own the vehicle at the end of the lease unless you choose to purchase it.

The monthly lease payment is calculated based on the difference between the negotiated price and the residual value (the vehicle's expected value at lease end), plus finance charges determined by the money factor.

Understanding Lease Terms

Money Factor

The money factor is how interest is expressed in leasing. To convert a money factor to an interest rate, multiply it by 2400. For example, a money factor of 0.00125 equals a 3% interest rate (0.00125 × 2400 = 3%).

Residual Value

The residual value is the projected value of the vehicle at the end of the lease term. It's typically expressed as a percentage of the MSRP. Higher residual values result in lower monthly payments because you're paying for less depreciation.

Mileage Allowance

Most leases include a mileage allowance (typically 10,000-15,000 miles per year). Exceeding this limit incurs an excess mileage fee, usually between $0.15-$0.30 per mile, charged at the end of the lease.

Lease vs. Buy: Which is Right for You?

Advantages of Leasing

  • Lower monthly payments compared to financing a purchase
  • Drive a new car every few years with the latest features and technology
  • Typically covered by manufacturer warranty for most of the lease term
  • No need to worry about selling or trade-in value
  • Usually requires less money upfront than purchasing

Disadvantages of Leasing

  • You don't own the vehicle at the end of the lease
  • Mileage restrictions with penalties for exceeding limits
  • Potential charges for excessive wear and tear
  • Higher insurance costs
  • Continual car payments if you lease repeatedly

Tips for Getting the Best Lease Deal

  • Negotiate the vehicle's purchase price (cap cost) just as you would when buying. A lower negotiated price means lower monthly lease payments.
  • Understand the money factor and residual value. These can vary between leasing companies and greatly affect your payments.
  • Be realistic about your annual mileage needs to avoid expensive excess mileage fees.
  • Consider a larger down payment to reduce monthly payments, but be aware that you won't recover this money if the car is totaled or stolen.
  • Watch for lease-specific fees like acquisition, disposition, and document fees, which can significantly increase the total cost.

How to Use Our Auto Lease Calculator

  1. Enter the MSRP, negotiated price, and residual value (or its percentage).
  2. Input your lease term, interest rate (or money factor), and down payment amount.
  3. Add any applicable fees, trade-in value, and sales tax rate.
  4. Enter your annual mileage allowance and the cost for excess miles.
  5. Click 'Calculate' to see your estimated monthly payment and total lease cost breakdown.

This calculator helps you understand the full financial impact of your lease agreement, allowing you to make informed decisions and compare different lease options.