Singapore Effective Tax Rate Calculator

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Car Lease Monthly Payment Calculator

Estimate your monthly lease costs including taxes and interest.

Gross Capitalized Cost:
Residual Value:
Monthly Depreciation:
Monthly Rent Charge (Interest):
Base Monthly Payment:
Total Monthly Payment:

Understanding How Car Lease Payments are Calculated

Leasing a car is significantly different from financing a purchase. Instead of paying for the entire value of the vehicle, you are essentially paying for the depreciation that occurs during the time you drive it, plus interest and taxes.

The Core Components of a Lease

  • Gross Capitalized Cost: This is the negotiated price of the vehicle plus any fees or prior lease balances.
  • Capitalized Cost Reduction: This includes your down payment, trade-in value, and dealer rebates which lower the amount being financed.
  • Residual Value: This is the predicted value of the car at the end of the lease term. It is set by the leasing company and is non-negotiable.
  • Money Factor: This represents the interest rate. To convert Money Factor to APR, multiply it by 2400. For example, a money factor of 0.00125 equals a 3% APR.

The Math Behind the Payment

The calculation consists of three primary parts:

  1. Depreciation Fee: (Adjusted Cap Cost – Residual Value) / Lease Term.
  2. Rent Charge (Interest): (Adjusted Cap Cost + Residual Value) × Money Factor.
  3. Taxes: Usually applied to the sum of the depreciation and rent charge every month.

Example Calculation

Imagine a car with an MSRP of $35,000, a negotiated price of $32,000, and a 60% residual ($21,000) over 36 months. If you put $2,000 down, your Adjusted Cap Cost is $30,000.

Depreciation: ($30,000 – $21,000) / 36 = $250/month.

Rent Charge: ($30,000 + $21,000) × 0.00125 = $63.75/month.

Base Payment: $250 + $63.75 = $313.75 before taxes.

function calculateLease() { // Get Input Values var msrp = parseFloat(document.getElementById('msrp').value) || 0; var salesPrice = parseFloat(document.getElementById('salesPrice').value) || 0; var downPayment = parseFloat(document.getElementById('downPayment').value) || 0; var tradeIn = parseFloat(document.getElementById('tradeIn').value) || 0; var term = parseFloat(document.getElementById('leaseTerm').value) || 1; var residualPercent = parseFloat(document.getElementById('residualPercent').value) || 0; var moneyFactor = parseFloat(document.getElementById('moneyFactor').value) || 0; var taxRate = parseFloat(document.getElementById('salesTax').value) || 0; // 1. Calculate Adjusted Capitalized Cost var adjCapCost = salesPrice – downPayment – tradeIn; // 2. Calculate Residual Value var residualValue = msrp * (residualPercent / 100); // 3. Calculate Monthly Depreciation var monthlyDepreciation = (adjCapCost – residualValue) / term; if (monthlyDepreciation < 0) monthlyDepreciation = 0; // 4. Calculate Rent Charge (Interest) // Formula: (Adj Cap Cost + Residual Value) * Money Factor var monthlyRentCharge = (adjCapCost + residualValue) * moneyFactor; // 5. Base Monthly Payment var basePayment = monthlyDepreciation + monthlyRentCharge; // 6. Tax Calculation var taxAmount = basePayment * (taxRate / 100); var totalMonthlyPayment = basePayment + taxAmount; // Formatting as Currency var formatter = new Intl.NumberFormat('en-US', { style: 'currency', currency: 'USD', }); // Display Results document.getElementById('resGrossCap').innerText = formatter.format(adjCapCost); document.getElementById('resResidual').innerText = formatter.format(residualValue); document.getElementById('resDepreciation').innerText = formatter.format(monthlyDepreciation); document.getElementById('resRentCharge').innerText = formatter.format(monthlyRentCharge); document.getElementById('resBasePayment').innerText = formatter.format(basePayment); document.getElementById('resTotalPayment').innerText = formatter.format(totalMonthlyPayment); // Show result container document.getElementById('leaseResults').style.display = 'block'; }

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