Auto Lease Calculator
Calculate your auto lease payments and total costs
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Interest Rate
Money Factor
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Interest Rate
Money Factor
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Ready to Calculate
Enter your lease details and click Calculate to see your results
Monthly Lease Payment
$0.00
Monthly Depreciation
$0.00
Monthly Interest
$0.00
Monthly Tax
$0.00
Down Payment
$0.00
Upfront Tax
$0.00
Total Lease Payments
$0.00
Total Cost to Own After Lease Ends
$0.00
Money Factor Equivalent APR: 0%
Our free Auto Lease Calculator helps you estimate your monthly lease payment and total lease costs instantly. Enter your vehicle price, residual value, money factor or interest rate, lease term, down payment, and sales tax — or work backwards from a desired monthly payment to find the vehicle price you can afford.
How to Use This Calculator
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Choose your calculation mode — Total Price to find your monthly payment, or Monthly Payment to find what vehicle you can afford.
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Enter the vehicle price, lease term in months, and your interest rate or money factor.
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Enter your down payment, trade-in value, sales tax rate, and the residual value at end of lease.
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If you have a money factor instead of an interest rate select the Money Factor option — the calculator converts automatically.
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Click Calculate to instantly see your monthly payment breakdown — depreciation, interest, tax, total payments, and total lease cost.
Auto Leasing vs Buying — Quick Comparison
| Feature | Auto Lease | Auto Purchase |
|---|---|---|
| Upfront Cost | Lower — fees and small down payment | Higher — down payment on full value |
| Monthly Payment | Usually lower | Usually higher |
| Ownership | No ownership — return at end | Full ownership — builds equity |
| Mileage Limits | Yes — typically 10,000 to 15,000/year | No limits |
| Maintenance | Usually covered by warranty | Owner responsible after warranty |
| Best For | Drivers who want new cars every 2 to 3 years | Drivers who keep vehicles long term |
Frequently Asked Questions
The money factor is a small decimal number used in lease calculations to represent the finance charge — similar to an interest rate on a loan. To convert a money factor to an equivalent APR multiply it by 2400. For example a money factor of 0.00208 equals an APR of approximately 4.99%. Our calculator accepts both formats and converts automatically.
Residual value is the projected wholesale value of the vehicle at the end of your lease term. It is set by the leasing company — not the dealer — and has a major impact on your monthly payment. A higher residual value means lower monthly payments because you are only financing the difference between the vehicle price and residual value. Vehicles with high residual values make for better lease deals.
Financial experts generally advise keeping lease down payments small or zero. Unlike a loan where a large down payment builds equity a large lease down payment is money you never recover since you do not own the vehicle. If the car is stolen or totaled early in the lease your insurance typically only covers the vehicle value — not your down payment. A smaller down payment reduces your upfront risk.
Most leases include an annual mileage cap of 10,000 to 15,000 miles. Exceeding this limit results in an excess mileage penalty typically ranging from $0.05 to $0.20 per extra mile. If you expect to drive more than average negotiate a higher mileage allowance upfront — it is almost always cheaper than paying overage fees at the end of the lease.
Want to Learn Everything About Auto Leasing?
Read our complete guide — what a lease is, how it works, pros and cons, and smart tips before you sign.