- Rates from 3.90% - 29.90%
- Borrow $500 - $75,000
- Loan terms from 12 - 96 months
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Car Lease Calculator
Not sure if a lease is worth it? Use a car lease calculator to work out how much you'll pay.
Car Lease Calculator
Total Depreciation:
$0.00
Total Lease Interest:
$0.00
Base Monthly Payment (Pre-Tax):
$0.00
Estimated Monthly Payment (With Tax):
$0.00
Total Cost of Lease:
$0.00
Disclaimer: For informational purposes only. Actual lease terms, fees and final payments vary based on dealership, provider and credit qualifications. Always verify exact pricing prior to signing.
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- Borrow $3,000 - $50,000
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Looking to lease a car?
Compare the latest lease deals to find the best offer
How to calculate the difference between two car lease options
When you’re calculating different car leases to see which will work better for your budget, you can use these examples to help guide your expectations. For car lease A, we used the Toyota Corolla, and for car lease B, we used the Honda Civic.
| Toyota Corolla | Honda Civic | |
|---|---|---|
| Sale price | $27,987 | $30,815.50 |
| Estimated resale value | $15,392.85 | $16,948.53 |
| Down payment | $0 | $0 |
| Sales tax | 13% | 13% |
| Lease term | 5 years | 3 years |
| Interest rate | 6.99% | 3.69% |
| Monthly payment | $379.96 | $344.15 |
| Total cost | $22,797.50 | $20,648.72 |
Based on this example, it can cost around $380 per month to lease a Toyota Corolla, while it can cost around $344 per month to lease a Honda Civic. The Toyota actually costs more in this example despite its lower sale price because it has a higher lease rate.
How much is a lease on a $45,000 car?
You can use our lease payment calculator above to work out the cost of a $45,000 car lease. Based on the latest lease offers in Canada, we estimate that leasing a $45,000 car could cost between $470 and $670 per month. As you can see in the table below, the lease term and interest rate you get can both have a major impact on the total cost of leasing a car.
| Car lease offer A | Car lease offer B | Car lease offer C | Car lease offer D | |
|---|---|---|---|---|
| Sale price | $45,000 | $45,000 | $45,000 | $45,000 |
| Estimated resale value | $24,750 | $24,750 | $24,750 | $24,750 |
| Down payment | $0 | $0 | $0 | $0 |
| Sales tax | 13% | 13% | 13% | 13% |
| Lease term | 48 months | 48 months | 48 months | 48 months |
| Interest rate | 3.98% | 0% | 4.99% | 5.90% |
| Monthly payment | $607.42 | $476.72 | $640.59 | $670.48 |
| Total cost | $29,156.37 | $22,882.50 | $30,748.49 | $32,182.96 |
How much is a lease on a $30,000 car?
You can also use a lease payment calculator to figure out how much a lease is on a $30k car, but the following example can guide your expectations.
| Car lease offer A | Car lease offer B | Car lease offer C | Car lease offer D | |
|---|---|---|---|---|
| Sale price | $30,000 | $30,000 | $30,000 | $30,000 |
| Estimated resale value | $16,500 | $16,500 | $16,500 | $16,500 |
| Down payment | $0 | $0 | $0 | $0 |
| Sales tax | 13% | 13% | 13% | 13% |
| Lease term | 60 months | 60 months | 48 months | 36 months |
| Interest rate | 4.99% | 5.49% | 4.49% | 1.99% |
| Monthly payment | $363.50 | $374.45 | $416.12 | $467.32 |
| Total cost | $21,809.99 | $22,466.80 | $19,973.54 | $16,823.47 |
Based on this example, it can cost around $360 to $500 per month to lease a $30,000 car.
How much is a lease on a $70,000 car?
You can use a lease payment calculator to figure out how much a lease is on a $70k car, but here’s another example to guide you.
| Car lease offer A | Car lease offer B | |
|---|---|---|
| Sale price | $70,000 | $70,000 |
| Estimated resale value | $36,200 | $36,200 |
| Down payment | $0 | $0 |
| Sales tax | 13% | 13% |
| Lease term | 24 months | 24 months |
| Interest rate | 1.90% | 0.99% |
| Monthly payment | $1,580.19 | $1,533.70 |
| Total cost | $37,924.49 | $36,808.79 |
Based on this example, it can cost around $1,500 per month to lease a $70,000 car.
What is the interest rate on car leases?
The interest rate you’re charged on a car lease will depend on what you can qualify for based on factors like your credit score and income. In general, you can expect to pay a car lease interest rate of anywhere between 0% and 7%.
The best way to find out what interest rates you’re eligible for on your car lease is to discuss your options with the dealership you’re interested in. You can then use a Canadian lease payment calculator to work out how much you’ll pay.
Not sure leasing is right for you? Compare car loan options
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Finder Score for car loans
To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 20+ car loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.
What other costs should I consider?
When you decide to lease a car, there are other factors to consider than just the interest rate and monthly payment. Insurance, extra mileage and excessive wear can all determine how much a lease can increase by.
- Insurance. Your lessor will likely require that you carry full coverage during your lease term. Depending on the make and model of your vehicle — as well as any past accidents — this can add hundreds or even thousands of dollars to the yearly cost of your lease.
- Extra mileage. Most leases come with a set number of kilometres you can drive each year, usually around 20,000. If you go over, you may be charged a fee per km.
- Wear and tear. If there’s any excessive wear on your vehicle, you may be charged a fee for damages and for potentially reducing the car’s resale value.
- Drive-off fees. Also known as the down payment, this is the amount you put down to drive the car off the lot.
- Rebates and incentives. Some dealerships offer discounts like rebates to get you to buy their lease.
Related: How to lease a used car
How much does it cost to break a lease?
How much to break a lease depends on the method you choose. Here’s a brief look at the five ways you can break a lease:
- Lease buyout: Pay out the remainder of your lease to gain full ownership of the vehicle so you can sell it. To do this, you’ll need to pay a termination fee to end the lease early, which ranges from $200–$500.
- Lease rollover: Extend the term of your lease for more time to pay it off.
- Trade in: You can trade your vehicle in for a cheaper one to pay off the remaining lease balance or roll it over into your new lease.
- Transfer your lease: Find someone else to take over the lease and pay a $50–$500 transfer fee.
- Voluntary surrender: Returning the vehicle to the leasing company is typically a last resort, as you’ll be responsible for termination fees, remaining payments and depreciation costs.
Bottom line
If you prefer to be behind the wheel of the latest car model or only plan on driving a few thousand kilometres each year, a car lease might be right for you. But using a car lease calculator can help you work out how much to lease a car in the short and long term, allowing you to find a lease that works with your budget and lifestyle.
Frequently asked questions
Sources
More resources on Finder
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