Auto Lease Calculator
Estimate your monthly payment for a car lease. Understand the components of a lease, including capitalized cost, residual value, and money factor.
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Understanding the Auto Lease Calculator
The Auto Lease Calculator is a powerful tool designed to demystify the cost of leasing a vehicle. It helps you estimate your monthly lease payment by breaking down the key components of a lease agreement, such as the vehicle price, residual value, money factor, and down payment.
How to Use the Calculator
To estimate your lease payment, you'll need to input several key figures. While some can be negotiated, others are set by the leasing company.
- Vehicle Price (MSRP): The manufacturer's suggested retail price.
- Negotiated Price: The price you agree to pay for the car. This is often lower than the MSRP.
- Down Payment: The initial amount you pay upfront.
- Trade-in Value: The value of your current car if you're trading it in.
- Loan Term: The duration of the lease in months (e.g., 36 months).
- Residual Value (%): The estimated value of the car at the end of the lease, expressed as a percentage of MSRP.
- Money Factor: The interest rate of the lease. To convert an APR to a money factor, divide it by 2400.
- Sales Tax (%): Your local sales tax rate.
Frequently Asked Questions (FAQ)
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