Leasing works differently from financing a purchase — you’re essentially paying for a vehicle’s depreciation over the lease term plus a finance charge, rather than paying off the full price. Enter the vehicle’s price, residual value, money factor, and lease term, and this car lease calculator estimates your monthly payment based on that structure.
Car Lease Calculator
Estimate monthly lease costs using vehicle price, residual value, money factor, and sales tax.
Monthly Lease Payment Breakdown
Car leasing has grown more popular in recent years, largely because it typically offers a lower monthly payment than financing the same vehicle, which matters more to buyers when auto loan rates are elevated. The tradeoff is that you don’t build equity in a leased vehicle, and most leases come with mileage limits that carry penalties if you exceed them.
If you’re deciding between leasing and buying, our car loan calculator shows the purchase-financing comparison side by side. And before committing to either, our car affordability calculatorcan help you confirm the payment fits your budget either way.