Tesla Lease Calculator

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Reviewed for Accuracy by David Chen, CFA

Use this **Tesla Lease Calculator** to estimate your monthly lease payments, determine the required residual value, or back-calculate the money factor for any Tesla model. Simply leave the variable you wish to solve for blank.

Tesla Lease Calculator

Calculated Result:

$0.00

Tesla Lease Calculator Formula

The standard simplified formula used for calculating a lease payment (before sales tax and other fees) is:

Monthly Payment = Depreciation Portion + Finance Portion

Depreciation Portion = (Capitalized Cost – Residual Value) / Term (Months)

Finance Portion = (Capitalized Cost + Residual Value) × Money Factor

Formula Sources: Edmunds, Leasehackr

Variables

  • MSRP / Capitalized Cost ($): The sticker price of the vehicle, or the negotiated price you are financing.
  • Residual Value ($): The vehicle’s estimated value at the end of the lease term, determined by the leasing company.
  • Lease Term (Months): The duration of the lease contract, typically 24, 36, or 48 months.
  • Money Factor (Decimal): A fraction representing the interest rate (Annual Percentage Rate, APR) on the lease. To convert APR to Money Factor, divide APR by 2400.
  • Monthly Payment ($): The fixed amount paid each month to the leasing company.

Related Calculators

What is Tesla Lease Calculator?

A Tesla Lease Calculator is a financial tool designed to estimate the costs associated with leasing a Tesla vehicle. Leasing is fundamentally different from purchasing in that you are paying for the vehicle’s depreciation (the loss in value) over a set period, plus finance charges (represented by the Money Factor).

This calculator allows prospective lessees to play with different variables, such as the Capitalized Cost (MSRP), the desired term, and the money factor offered by the leasing company, to understand how each component influences the final monthly payment. It’s a critical tool for negotiation and budgeting.

How to Calculate a Tesla Lease (Example)

Assume the following variables for a 36-month Tesla Model Y lease:

  1. Capitalized Cost (MSRP): $50,000
  2. Residual Value: $32,000 (64% of MSRP)
  3. Lease Term: 36 Months
  4. Money Factor: 0.00040
  5. Step 1 (Depreciation): Calculate the total depreciation: $50,000 – $32,000 = $18,000.
  6. Step 2 (Monthly Depreciation): Divide total depreciation by the term: $18,000 / 36 = $500.00.
  7. Step 3 (Finance Charge): Calculate the average cost subject to finance: ($50,000 + $32,000) = $82,000.
  8. Step 4 (Monthly Finance): Multiply the average cost by the Money Factor: $82,000 * 0.00040 = $32.80.
  9. Step 5 (Monthly Payment): Add the two monthly components: $500.00 + $32.80 = $532.80.

Frequently Asked Questions (FAQ)

  • What is the Money Factor and how does it relate to APR?

    The Money Factor (MF) is the cost of borrowing for a lease. To convert it to an Annual Percentage Rate (APR), simply multiply the Money Factor by 2400. For example, a MF of 0.00045 equals an APR of 1.08%.

  • Is it better to pay a larger down payment on a Tesla lease?

    Most financial experts advise against large down payments on leases, as this money is lost if the vehicle is totaled. Payments made upfront are generally better utilized to cover required drive-off fees and first monthly payment only.

  • How is the Residual Value determined?

    The Residual Value is set by the leasing company based on internal data predicting the vehicle’s wholesale value at the end of the lease term. Factors include market trends, mileage allowance, and the vehicle’s reliability.

  • What fees are not included in the basic lease payment calculation?

    The basic calculation only estimates the depreciation and finance charge. It does not include sales tax (which varies by state), registration fees, acquisition fees, documentation fees, or any required security deposits.

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