Calculate your car lease payment with money factor, residual value, and all fees. Compare lease costs and understand the true cost of leasing.
Monthly Payment
$594
Including tax
Total Lease Cost
$22,287
Over 36 months
You saved $3,000 (6.7% off MSRP)
= 3.00% APR
Allowed mileage: 36,000 miles over 36 months (12,000/year)
| Cost Component | Amount |
|---|---|
| Monthly Payments (36 × $594) | $21,392 |
| Upfront Costs | $895 |
| Total Lease Cost | $22,287 |
| Cost Per Mile | $0.62/mi |
Return the car, pay any excess mileage/wear fees, walk away
Buy at residual value: $28,058 (+ tax)
Start a new lease, possibly with loyalty incentives
Excess mileage: $0 per mile over 36,000 total miles
Monthly Payment
$594
Including tax
Total Lease Cost
$22,287
Over 36 months
To calculate a car lease payment, you need the vehicle price, residual value, money factor, and lease term. Our free calculator at practicalwebtools.com computes monthly payments by adding depreciation cost and finance charge, helping you understand the true cost of leasing.
Higher residual = lower payments (less depreciation to finance)
1 insight based on your inputs
You'll pay 50% of MSRP to lease for 36 months—then return the car.
Explore other tools that might help
Lease payments have two components: depreciation (the value the car loses during the lease) and rent charge (interest). Depreciation = (Cap Cost - Residual Value) / Months. Rent Charge = (Cap Cost + Residual) × Money Factor. Add sales tax to get your total monthly payment.
The money factor is the lease equivalent of an interest rate. To convert to APR, multiply by 2,400. For example, a money factor of 0.00125 = 3% APR (0.00125 × 2,400). Lower money factors mean less interest cost. Good credit typically gets money factors under 0.002 (4.8% APR).
Residual value is the car's predicted worth at lease end, expressed as a percentage of MSRP. Higher residual = lower payments because you're paying for less depreciation. Honda and Toyota typically have 55-65% residuals, while luxury brands may be 50-58%. This is set by the leasing company.
Generally, putting money down on a lease isn't recommended because if the car is totaled, you lose that down payment. However, drive-off fees (first month, DMV, etc.) must be paid. Some prefer zero-down leases and invest the savings instead.
Excess mileage charges apply at lease-end, typically $0.15-$0.30 per mile over your allowance. If you drive 15,000 miles/year but lease for 12,000, you'll pay for 9,000 excess miles over 3 years. It's often cheaper to buy extra miles upfront than pay at lease end.
Monthly Payment
$594
Including tax
Total Lease Cost
$22,287
Over 36 months