What is a money factor in a lease?

The money factor is the lease equivalent of an interest rate. To convert to APR, multiply the money factor by 2400.

What is residual value?

Residual value is the estimated value of the vehicle at the end of the lease. A higher residual value means lower monthly payments.

Is leasing better than buying?

Leasing offers lower monthly payments and the ability to drive newer vehicles. Buying builds equity and has no mileage restrictions. Choose based on your needs and driving habits.

Lease Calculator

Overview

Estimate monthly lease payments for a vehicle based on the capitalized cost, residual value, and lease term, including interest rate calculations.

The Lease Calculator helps you estimate monthly lease payments for a vehicle based on the capitalized cost, residual value, lease term, and interest rate. This tool provides a breakdown of depreciation, finance fees, and the total monthly payment.

How to use

Calculate your lease payments in a few quick steps.

Enter vehicle price: Input the MSRP or negotiated price of the vehicle.
Add down payment: Enter any down payment or trade-in value.
Set lease terms: Enter the lease length (months), money factor or interest rate, and residual value.
Review lease payment: Check your monthly lease payment and total cost of the lease.

FAQs

What is a money factor in a lease?: The money factor is the lease equivalent of an interest rate. To convert to APR, multiply the money factor by 2400.
What is residual value?: Residual value is the estimated value of the vehicle at the end of the lease. A higher residual value means lower monthly payments.
Is leasing better than buying?: Leasing offers lower monthly payments and the ability to drive newer vehicles. Buying builds equity and has no mileage restrictions. Choose based on your needs and driving habits.