Estimate your monthly lease payment from the numbers on a dealer worksheet. Free, no signup, and nothing you type leaves your browser.
You need five numbers from a dealer quote or lease worksheet. If a number is missing, ask the dealer to write it down; a dealer who will not show you the residual value or money factor is giving you a payment without letting you check it.
Everything runs in your browser. Nothing you type is sent to us, so you can try as many scenarios as you like.
A car lease payment is two charges added together and then taxed. The first is the depreciation charge: the part of the car's value you are expected to use up during the lease. The second is the rent charge, the finance cost of the lease, which most lessors express with a money factor instead of an interest rate.
The depreciation charge starts from the adjusted capitalized cost: the negotiated price, plus any fees that are rolled in, minus your down payment, rebates and trade-in credit. From that you subtract the residual value, the lessor's estimate of what the car will be worth at the end, and spread the difference evenly over the months of the term. A car that holds its value (high residual) has a smaller depreciation charge than a car that loses value quickly, even if both have the same price.
The rent charge is (adjusted capitalized cost + residual value) × money factor, each month. The money factor sets the financing rate, but the dollar amount also depends on the cap cost and the residual, because the formula uses both. The same payment can be converted to a rate: multiply the money factor by 2,400. For 0.00125 that gives 3.00%. The reason is simple arithmetic: the rent charge is roughly the average balance, (cap cost + residual) ÷ 2, times a monthly rate, so the money factor is half the monthly rate, and 2 × 12 × 100 = 2,400. This is an equivalent rate for comparison, not an APR; federal lease disclosure rules say a quoted lease rate may not measure the overall cost of the lease.
Finally, in many states sales tax is charged on each monthly payment, which is what this calculator does. Other states tax the full price, the cap cost or the up-front payments. This site does not describe individual state rules, so confirm with your state revenue department or the dealer how your lease will be taxed.
MSRP is the base for the residual value. Residual percentages are normally quoted against MSRP, so an accurate MSRP matters even after you negotiate a lower price.
Negotiated selling price is the number you can most easily influence. Many shoppers negotiate only the monthly payment and never realise the price itself is negotiable on a lease. A lower price lowers the cap cost, which lowers both the depreciation charge and the rent charge.
Residual value is set by the leasing company, using its expectations for the model, trim and mileage allowance. Higher expected mileage lowers it. You usually cannot negotiate it, but it differs a lot between vehicles, which is why two cars with the same sticker price can have very different payments.
Money factor depends on credit tier and the manufacturer's current programs. Because it is an unfamiliar decimal, many people never ask about it. Ask, and compare it with other offers.
Lease term changes how the same depreciation is spread out. A shorter term raises the monthly depreciation charge; a longer term lowers it but adds months of rent charge.
Down payment, rebates and trade-in credit reduce the cap cost and the payment. The Federal Reserve notes that a cap cost reduction is not refundable, so money you put down is at risk if the car is stolen or totaled early. See the worksheet guide.
Fees such as an acquisition fee are sometimes rolled into the cap cost. Entering them shows how much they raise the payment.
Sales tax varies by state, and the method (on the payment, on the price, up front) matters more than the rate.
These are the calculator's starting numbers, chosen to be round, not a real offer: MSRP $35,000, price $33,000, residual 58%, money factor 0.00125, 36 months, $2,000 down, no fees, 7% tax on the payment.
Over 36 months that is $13,919.10 in payments, plus the $2,000 paid at signing, about $15,919 for three years of driving, or roughly $442 a month all in. Fees, registration and insurance are extra.
The fastest way to learn what moves a lease payment is to change one input at a time. Starting from the example above:
| Change | New monthly payment | Difference |
|---|---|---|
| Money factor 0.00175 instead of 0.00125 (about 4.2% instead of 3.0%) | $414.09 | +$27.45 |
| No down payment instead of $2,000 | $448.76 | +$62.12 |
| 24-month term instead of 36 | $545.66 | +$159.01 |
| Residual 62% instead of 58% | $346.90 | -$39.74 |
Notice that a 0.0005 change in the money factor looks tiny but costs about $27 a month, or $988 over the term. And removing the down payment raises the payment by $62, less than you might expect, because the down payment is simply spread across the months instead of paid at once.
Negotiating only the monthly payment. A payment can be hit by stretching the term, raising the money factor or adding fees to the cap cost. Negotiate the selling price and the money factor, and let the payment follow.
Ignoring the mileage allowance. The Federal Trade Commission notes that the annual limit in most standard leases is 15,000 miles or less and that going over usually means a fee when you return the car. Your contract states the rate; look it up instead of assuming a figure.
Forgetting fees. Acquisition, disposition, registration and documentation fees are not part of the core payment formula but are real costs. Ask for the full worksheet.
Not budgeting for wear. The lessee pays for excess wear and damage. The standard for "excess" is written in your contract, so read it before you sign.
Treating a lease like a purchase. The CFPB describes leasing as similar to renting. You pay for the use of the car, not for ownership, unless the lease has a purchase option and you use it.
Entering the wrong residual. The residual is a percent of MSRP. If your worksheet shows a dollar amount, divide it by the MSRP before typing it in.
This tool estimates the core payment formula. It is not a quote, a pre-approval or an offer. It does not know about registration and title fees, dealer documentation fees, optional products such as gap coverage or service contracts, or state-specific lease tax methods. Federal rules (Regulation M, issued under the consumer leasing provisions of the Truth in Lending Act, known as the Consumer Leasing Act) require lessors to give you a written disclosure of the payment calculation, the amount due at signing, total of payments, early termination terms, and excess wear and mileage terms, so your real numbers will be on paper before you sign. Use this page to prepare questions, then compare it with that disclosure.