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Car
Lease Calculators: Handy Tools for Anyone Considering Leasing
One of the first questions
that comes to mind when thinking of leasing a car is: "What will
my monthly lease payment amount be?" Or, "What will my overall
cost be for a lease?" Or, "How much can I save by leasing when
compared to buying?" Or, "Is this lease a good deal?"
Lease Payment
and Cost Calculators
Getting the answers can be as simple as using a basic online lease calculator
such as the LeaseGuide.com Basic Lease
Calculator, or our more comprehensive Car
Lease Calculator, which calculates detailed payments, taxes,
and total lease costs — by leading you through a number of easy steps
in which you answer questions and input information about your lease.
Lease payment calculators
simply apply the standard lease payment formula (see the Lease
Guide) to determine your monthly payment amount. Additional calculations
and formula must be performed to determine other costs.
Money Factor
to Interest Rate Calculator
If you simply want to convert lease money factor to annual interest
rate, or vice versa, use the simple calculator on our How
Leasing Works page.
Using Lease
Calculators
Even though you may not know some of the figures you need to plug into
the calculator, you can guess or make some assumptions to see the results.
Then you can go back and change some of the figures to see how it affects
the results. In this, you can "play" with the calculator to
get the answers you want.
You can get estimated
lease-end residual values from the Lease
Residuals Calculator in our Lease Kit.
If you have all the
figures about a specific lease deal from your dealer — cap cost,
residual, term, and money factor — you can check the honesty and
accuracy of your dealer's payment calculations by using our Lease
Calculator. The
dealer's figures should exactly match yours.
If not, then the dealer is using numbers that he has not accurately disclosed
to you. If you both are using the same numbers as input to your calculations,
the results will be precisely the same — to the penny.
Lease vs Buy
Calculator
If you want to compare the cost of leasing to the cost of buying,
use our Lease vs Buy Calculator.
Based on the input figures that you provide, you can easily see the difference
between buying and leasing the same car. Just because lease payments are
always smaller than loan payments does not necessarily mean leasing is
right for you (see Lease Guide), nor does it
mean that a specific lease is a good deal (see below).
What Lease
Calculators Can't Do
Lease calculators CANNOT tell you if a lease deal is a good or bad. They
only calculate payments and check accuracy of the math.
Only the special Lease Evaluator
calculator in our Lease Kit can tell you if a proposed
lease deal is a good deal, or not. It's very easy to have low lease payments
and still be paying too much.
Checking Lease
Deals After the Deal is Done
If you are already in a lease and want to check your
deal AND the math at the same time, the Lease
Inspector in our Lease Kit will easily do that job.
Checking Lease
Mileage
If you're already in a lease and are concerned about exceeding your mileage
allowance, you might want to track your mileage and determine if you are
on track to possibly having to pay a lease-end mileage charge. Use our
Lease Mileage Calculator
to find out.
Auto Loan
Calculator Online
Many people who are considering leasing are also looking at purchasing
with a loan. Here's a easy to use full-function auto loan calculator.
It calculates monthly payments, taxes, and finance costs: Car
Loan Calculator
Summary
Basic
Lease Calculator
Comprehensive
Lease Calculator
Lease
Residuals Calculator (Lease Kit)
Lease
versus Buy Calculator
Interest
Rate to Money Factor Conversion Calculator
Lease
Deal Evaluator (Lease Kit)
Lease
Deal Inspector (Lease Kit)
Lease
Mileage Calculator
Auto
Loan Calculator Online
 For
more, see LeaseGuide.com
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