Check a dealer’s lease quote. Enter the MSRP, the price you negotiated, your down payment, the residual value and money factor to see the monthly payment.
Add this calculator to your website
Free to use on your blog or website. Paste this code where you want the calculator to appear, for example in a Custom HTML block in WordPress.
How a lease payment is calculated
- Depreciation part = (price − down payment − residual value) ÷ months.
- Finance (rent) charge = (price − down payment + residual value) × money factor.
- Sales tax is usually added to each monthly payment.
Example: a $35,000 car negotiated to $33,000, with $2,000 down, 58% residual, a 0.0025 money factor and 36 months, costs about $455 a month including 7% tax.
Frequently asked questions
How do I convert a money factor to APR?
Multiply by 2,400. A money factor of 0.0025 equals 6% APR.
Is leasing cheaper than buying?
Often for short periods, rarely for long ones. Compare both with the lease vs buy calculator.