About the Lease Calculator
Estimate a monthly lease payment from the price, residual value, term and interest rate. This tool is free, works in your browser and needs no sign-up.
How to use the Lease Calculator
Enter the price, down payment, residual value percent, lease term, yearly interest rate and sales tax.
Formula used
Payment = (Cap cost − Residual) ÷ n + (Cap cost + Residual) × money factor, plus tax. Money factor = APR ÷ 2400.
Example
With Price of the item or vehicle 32000, Down payment 2000, Residual value at lease end (%) 58, Lease term (months) 36, Interest rate (% per year) 6, the calculator shows: Monthly lease payment = 469.92; Depreciation part = 317.78; Interest (rent charge) part = 121.40.
Frequently asked questions
What is a residual value?
The residual value is what the item is expected to be worth at the end of the lease. A higher residual means lower monthly payments.
Is the Lease Calculator free to use?
Yes. It is completely free and you can use it as many times as you like.
How accurate is the Lease Calculator?
The calculator uses standard formulas, so the maths is exact. Real life results can differ because of fees, taxes, rounding or personal factors, so treat the answer as an estimate.
Do you store the numbers I enter?
No. All calculations run in your browser. The values you type are not sent to our server.
Disclaimer: results are estimates for information only. They are not financial, medical or professional advice.