Hourly to Salary Rate Calculator

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Auto Lease Payment Calculator

Estimate your monthly car lease payments based on MSRP, negotiated price, and residual value.

Gross Capitalized Cost:
Residual Value Amount:
Monthly Depreciation:
Monthly Finance Fee:
Estimated Monthly Payment:

*Estimated APR: %

How Car Lease Payments Are Calculated

Understanding how a car lease payment is structured can save you thousands of dollars at the dealership. Unlike a traditional car loan where you pay for the entire vehicle, a lease only charges you for the portion of the vehicle's value that you "use" during the term.

The Three Core Components of a Lease

Every lease payment consists of three primary parts:

  • Depreciation Fee: This is the largest part of your payment. It covers the loss in value the car experiences over the lease term. It is calculated as: (Net Capitalized Cost – Residual Value) / Term.
  • Finance Fee (Rent Charge): This is essentially the interest you pay for the leasing company's money. It uses a unique figure called the "Money Factor." The formula is: (Net Capitalized Cost + Residual Value) × Money Factor.
  • Sales Tax: In most states, you pay sales tax on the monthly payment amount rather than the full value of the car.

What is the Money Factor?

The Money Factor is the interest rate for a lease. Dealerships often present it as a small decimal (e.g., 0.00125). To convert the Money Factor into a standard APR (Annual Percentage Rate) that you are familiar with, simply multiply it by 2,400.

Example: 0.00125 × 2400 = 3.0% APR.

The Importance of Residual Value

The residual value is the estimated value of the car at the end of the lease. This is set by the leasing company (the "lessor") and is generally not negotiable. A higher residual value means lower monthly payments because you are responsible for less depreciation over the term.

Example Calculation

Suppose you lease a vehicle with an MSRP of $40,000, but you negotiate the price down to $37,000. You put $2,000 down, leaving a Net Cap Cost of $35,000. If the residual value is 60% ($24,000) for a 36-month term with a money factor of 0.0015:

  1. Monthly Depreciation: ($35,000 – $24,000) / 36 = $305.56
  2. Monthly Finance Fee: ($35,000 + $24,000) × 0.0015 = $88.50
  3. Base Payment: $305.56 + $88.50 = $394.06 (plus local taxes)
function calculateLease() { var msrp = parseFloat(document.getElementById('msrp').value); var sellPrice = parseFloat(document.getElementById('sellPrice').value); var downPayment = parseFloat(document.getElementById('downPayment').value) || 0; var tradeIn = parseFloat(document.getElementById('tradeIn').value) || 0; var term = parseFloat(document.getElementById('leaseTerm').value); var residualPerc = parseFloat(document.getElementById('residualPerc').value); var mf = parseFloat(document.getElementById('moneyFactor').value); var taxRate = parseFloat(document.getElementById('salesTax').value) || 0; if (isNaN(msrp) || isNaN(sellPrice) || isNaN(term) || isNaN(residualPerc) || isNaN(mf)) { alert("Please enter all required values."); return; } // 1. Net Capitalized Cost var netCapCost = sellPrice – downPayment – tradeIn; // 2. Residual Value var residualVal = msrp * (residualPerc / 100); // 3. Monthly Depreciation var monthlyDepreciation = (netCapCost – residualVal) / term; // 4. Monthly Finance Fee (Rent Charge) var monthlyFinance = (netCapCost + residualVal) * mf; // 5. Base Payment var basePayment = monthlyDepreciation + monthlyFinance; // 6. Tax (Applied to monthly payment in most states) var monthlyTax = basePayment * (taxRate / 100); // 7. Total Payment var totalMonthly = basePayment + monthlyTax; // APR Calculation var apr = mf * 2400; // Display Results document.getElementById('resGrossCap').innerText = "$" + netCapCost.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resResidualVal').innerText = "$" + residualVal.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resDepreciation').innerText = "$" + monthlyDepreciation.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resFinance').innerText = "$" + monthlyFinance.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resTotalPayment').innerText = "$" + totalMonthly.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('resAPR').innerText = apr.toFixed(2); document.getElementById('leaseResult').style.display = 'block'; }

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