Using Lease Calculators

Want to calculate your monthly lease payment? Consider using a lease calculator

If you are considering a car lease, then you might want to know some key figures involved in the deal: the monthly lease payments, the overall cost of the lease and how much savings can be made compared to purchasing the vehicle.

A lease calculator relieves you from the stress of having to know the complex underlying lease formulae used in calculations. You simply plug a number of figures into the calculator and hey presto! You get a detailed rundown of detailed payments, taxes and total lease costs.

Figures you need to get from your dealer about a specific lease you’re interested in include: capitalized cost, estimated residual value at the end of the lease, the number of months in your lease and the money factor. Make assumptions and change some of the figures to see how it affects your lease payments. For instance, residual value is an “estimated” value of what the vehicle will be worth at the end of the lease. You can input different estimates to cover different scenarios and assumptions.

As a final note of caution, bear in mind that lease calculators only do calculations and check the accuracy of abstract mathematical formulae. They do not tell you whether a lease is good or bad.

Recommended Reading

1. Buy A Car At The End Of Your Lease
You've come to the end of your lease and you like you car enough you want to keep it in...
2. Single Payment Lease
A prepaid lease is a new type of lease which has made its foray into the market in recent times....
3. The Residual Value Of Leasing
If you are in the market to lease a vehicle, you will hear the term "residual value" recur like a...
4. Leasing Glossary
In order to get a good leasing deal, you need to understand leasing jargon. Read through this leasing glossary to...
5. Buy Or Lease
It's the classic dilemma that faces every auto-consumer out there: Pay cash upfront or forego the ownership and pay monthly...