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Monthly car lease payments may seem to come “out of the blue” if you don’t know how to calculate your own monthly payments. If you know how to determine your monthly lease payment by using a car lease calculator you will avoid overpaying. Car leasing companies and dealers use a special formula that determines what your monthly payments will be. To find out if you are getting a fair deal, get informed on how these calculations are made. ​

There are a few figures you should understand:

  1. Down payment: This is the amount you give the dealer, up front, for the leased vehicle. Try not to put more than $2,000 down.
  2. Credit rating: You can find this online or with the Mint app. Generally, if it’s above 750, it’s “excellent.” Between 700 and 749 is “good.” Fair credit ranges from 650 to 699, poor from 600 to 649 and bad is below 600. The higher the score, the more you can borrow. The higher the score, the less interest you’ll pay, as well.
  3. Lease term: This is the period of time, in months, during which you’ll lease the car. It’s typically 36 months.
  4. Sales tax: This is a percentage that varies from state to state. Do an internet search to find out what it is in your area.
  5. Lease price: This is essentially the price you’d buy the car for if you were purchasing it. Instead, you’re leasing. You’re charged a portion of the lease price, which you pay off month by month. The portion’s value is called a residual value.

Using our calculator, you’ll end up with the lease price of the car. You can do a search for the model and find out if it’s below the car’s MSRP, which is the suggested retail price. If it’s not, chances are you can negotiate it down to somewhere just above the “invoice price” and let the dealer recalculate your payments.

Give it a try!​

Car Loan/Lease calculator

Monthly Payment
Down Payment
Credit Rating
Lease Term
Sales Tax
Lease price

Now, before you finalize your plans, why not get some quotes? There could be a better deal out there, waiting for you. Our quoting system is free and comes with no obligations. Click here to fill out our secure form and get quotes from as many dealers as you can.