Car Lease Calculator
Calculate your monthly car lease payment with this free online car lease calculator. Uses residual value, money factor or APR, down payment and sales tax.
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How to use Car Lease Calculator
- 1Enter the car price, your down payment and the lease term in months
- 2Add the residual value percentage, the interest rate or money factor and your sales tax
- 3Read the monthly payment, the depreciation fee, the rent charge and the total lease cost
Frequently asked questions
How is a car lease payment calculated?▾
A lease payment has two parts. The depreciation fee is the price minus the down payment minus the residual value, divided by the months. The rent charge is the price minus the down payment plus the residual value, times the money factor. Sales tax is then added.
What is a money factor?▾
The money factor is the interest rate on a lease written as a small decimal. Multiply it by 2,400 to get the approximate APR: a money factor of 0.0025 is about 6% APR.
What is a good residual value?▾
A higher residual value means a lower payment, because you only pay for the value the car loses. For a 36-month lease, residuals of 55% to 65% of the price are common, and cars that hold their value well get higher residuals.
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