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Auto Lease Calculator
Vehicle lease payment calculator
How It Works
Free auto lease calculator to estimate the monthly lease payment and total cost of leasing a vehicle.
Leasing a car is essentially a long-term rental. Instead of financing the full purchase price, you pay for the vehicle's depreciation during the lease term plus finance charges. Leases typically have lower monthly payments than loans and require less money upfront, but you do not own the vehicle at the end of the term.
Key terms in a lease include the capitalized cost (the vehicle's price), the residual value (the estimated value at lease end), the money factor (the interest rate expressed as a decimal), and the lease term (typically 24-48 months). At the end of the lease, you can either return the vehicle, purchase it for the residual value, or lease a new vehicle.
Leasing may be advantageous for those who want to drive a new car every few years, prefer lower monthly payments, and can stay within mileage limits. However, leasing comes with mileage restrictions, potential excess wear-and-tear charges, and no equity buildup.
Results
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Quick Tips
- • Results update automatically as you type
- • Use Tab to navigate between fields
- • Press Enter to calculate