04.21.06
Car Lease Calculator - How Much Are My Monthly Car Lease Payments?
How much will my car lease payments be? How do you calculate a car lease? There are a few things you need to consider when calculating the car lease and how much your payments will be. You need to know the car lease MSRP, the final negotiated price, down payment, trade-in value, and tax, length of lease term, car lease lending rate and the estimated value of the car at lease end. There are various online calculators for car lease that can help you, but you don’t need to be a mathematician to figure it out. There are only a few numbers you need to know to calculate your car lease payments. These numbers, as mentioned above, can be supplied by your car dealer or leasing company. Here’s the jist on figuring out your car lease payments - though you need to do your own calculation unless you have your own lease calculator.
- First, figure out the monthly depreciation of the vehicle. Subtract the residual value of the vehicle from the cap cost. Take the difference and divide it by the number of months you plan to lease the car. This calculates the monthly depreciation.
- Next figure out the monthly finance charge. Add the residual value and the cap cost, then multiply that by the money factor (dealers are not required to supply this number).
- Lastly, add the monthly depreciation and the monthly finance charge, and you have calculated your monthly car payment.