About Car on Loan Calculator
This calculator estimates your monthly car lease payment using the standard lease formula. It considers the car's price, your down payment, the vehicle's residual value, the lease term, and the money factor (interest rate).
How to Use:
- Car Price: The total Manufacturer's Suggested Retail Price (MSRP)
- Down Payment: The initial amount you pay upfront
- Residual Value: The car's estimated worth at the end of the lease
- Lease Term: The duration of the lease in months (e.g., 24, 36, 48)
- Money Factor: The lease interest rate (e.g., 0.00125 represents 3% APR)
Example: Car Price: $35,000, Down Payment: $2,000, Residual Value: $18,000, Lease Term: 36 months, Money Factor: 0.00125.
Adjusted Price: $33,000. Depreciation: ($33,000 - $18,000) / 36 = $416.67. Rent Charge: ($33,000 + $18,000) * 0.00125 = $63.75.
Monthly Payment: $416.67 + $63.75 = $480.42.
Note: This is an estimate. Actual payments may include fees, taxes, and vary based on the leasing company's terms.