Calculate your monthly car lease payment and compare it to buying. Includes mileage, wear-and-tear fees, and a full lease vs. buy analysis.
Vehicle & Lease Terms
$
$
0.00199 = ~4.78% APR. Dealer should disclose MF.
% of MSRP
months
$
$
%
Monthly Lease Payment
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Effective APR
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Monthly Payment
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Mileage Allowance
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Total Lease Cost
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Residual Value
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MSRP
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Negotiated Cap Cost
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Down + Trade-In Reduction
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Adjusted Cap Cost
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Residual Value
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Depreciation/mo
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Finance Charge/mo
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Tax/mo
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Monthly Payment
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Total Lease Cost
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Overage Rate (per mile)
$0.15-0.25/mile (typical)
FAQ
How is an auto lease payment calculated?
Monthly Lease = Depreciation + Finance Charge + Tax. Depreciation = (Adjusted Cap − Residual)/months. Finance Charge = (Adj Cap + Residual) × Money Factor. The key is negotiating the lowest cap cost and getting a good money factor.
What is the difference between MSRP and Capitalized Cost?
MSRP is the sticker price. Capitalized cost (cap cost) is the negotiated price you actually pay. Negotiate the cap cost down just like you would a purchase price — the lower the cap, the lower your payment.
What happens if I exceed my mileage allowance?
Excess mileage fees are charged at lease end, typically $0.15-0.25 per mile over the allowed amount. On a 36-month lease with 12K miles/yr limit, exceeding by 5,000 miles = $750-1,250 in overage fees.
What is a good money factor?
A money factor below 0.00100 (2.4% APR) is excellent. 0.00100-0.00200 is competitive. Above 0.00300 (7.2% APR) is high. Always ask the dealer for the money factor; some try to hide it.