Using lease calculators

Want to calculate your monthly lease payment? Consider using a lease 
calculator

If you are considering a car lease, then you might want to know some key 
figures involved in the deal: the monthly lease payments, the overall cost 
of the lease and how much savings can be made compared to purchasing the 
vehicle. 

A lease calculator relieves you from the stress of having to know the 
complex underlying lease formulae used in calculations. You simply plug a 
number of figures into the calculator and hey presto! You get a detailed 
rundown of detailed payments, taxes and total lease costs.
  
Figures you need to get from your dealer about a specific lease you’re 
interested in include: capitalized cost, estimated residual value at the 
end of the lease, the number of months in your lease and the money factor.
Make assumptions and change some of the figures to see how it affects your 
lease payments. For instance, residual value is an “estimated” value of what 
the vehicle will be worth at the end of the lease. You can input different 
estimates to cover different scenarios and assumptions. 

As a final note of caution, bear in mind that lease calculators only do 
calculations and check the accuracy of abstract mathematical formulae. They 
do not tell you whether a lease is good or bad.  

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