{"id":821244,"date":"2019-12-05T20:56:37","date_gmt":"2019-12-06T01:56:37","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=821244"},"modified":"2025-09-10T10:41:39","modified_gmt":"2025-09-10T14:41:39","slug":"car-lease-calculator","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/car-loans\/car-leasing\/car-lease-calculator","title":{"rendered":"Car lease calculator"},"content":{"rendered":"

How to calculate the total cost of your car lease in Canada<\/h3>
  1. Get the sales price of the car.<\/strong> This is the price that you negotiate with the dealership, not the manufacturer-recommended price. You can find an estimate on sites like the Canadian Black Book.<\/li>
  2. Subtract the down payment.<\/strong> The down payment is the amount you pay upfront for the car and it reduces the amount left for you to pay.<\/li>
  3. Subtract the resale price.<\/strong> Also known as the \u201cestimated resale value,\u201d this is what the car is worth at the end of the lease. Typically, this is around 55% of the sale price of the car.<\/li>
  4. Calculate the interest.<\/strong> Divide the interest rate by the number of payments and multiply the result by the figure you got in step 3.<\/li>
  5. Calculate the total cost.<\/strong> Add the result to the figure you got in step 3.<\/li><\/ol>

    Want to know how much to lease a car per month? Divide the total cost by the total number of payments on your lease. To make it much easier, use a lease payment calculator in Canada, such as the government of Canada\u2019s vehicle lease calculator<\/a>.<\/p>

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    Looking to lease a car?<\/p>\n

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    How to calculate the difference between two car lease options<\/h4>

    When you\u2019re 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 Hyundai Venue, and for car lease B, we used the Nissan Versa.<\/p>
    <\/th>Car lease offer A<\/th>Car lease offer B<\/th><\/tr><\/thead>
    Sale price<\/td>$25,000<\/td>$20,000<\/td><\/tr>
    Estimated resale value<\/td>$19,200<\/td>$12,950<\/td><\/tr>
    Down payment<\/td>$0<\/td>$0<\/td><\/tr>
    Sales tax<\/td>13%<\/td>13%<\/td><\/tr>
    Lease term<\/td>3 years<\/td>3 years<\/td><\/tr>
    Interest rate<\/td>6.74%<\/td>6.79%<\/td><\/tr>
    Monthly payment<\/b><\/td>$321.64*<\/b><\/td>$326.17<\/b><\/td><\/tr>
    Total cost<\/b><\/td>$11,579.04*<\/b><\/td>$11,742.12<\/b><\/td><\/tr><\/tbody><\/table>

    *Also takes into account costs such as depreciation fees, lease fees and other applicable taxes.<\/small><\/p>

    Based on this example, it can cost around $322 per month to lease a $25,000 car, while it can cost around $326 per month to lease a $20,000 car. Lease B actually costs more in this example despite its lower sale price and slightly lower rate because the car loses more value over the lease term.<\/p>

    General car lease calculation summary<\/h4>
    Steps 1-3:<\/h5>

    $car sales price \u2212 $down payment \u2212 $resale price = $car cost<\/strong><\/p>

    Step 4:<\/h5>

    interest% \u00f7 number of payments \u00d7 $car cost<\/strong> = $partial cost<\/strong><\/p>

    Step 5:<\/h5>

    $partial cost<\/strong> + $car cost<\/strong> = $total lease cost<\/strong><\/p><\/div><\/article>

    How much is a lease on a $45,000 car?<\/h3>

    You can use a lease payment calculator in Canada to work out the cost of a $45,000 car lease. We estimated that it could cost between $683.86 and $697.46 per month to lease a $45,000 car. 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.<\/p>
    <\/th>Car lease offer A<\/th>Car lease offer B<\/th><\/tr><\/thead>
    Sale price<\/td>$45,000<\/td>$45,000<\/td><\/tr>
    Estimated resale value<\/td>$25,000<\/td>$20,000<\/td><\/tr>
    Down payment<\/td>$5,000<\/td>$5,000<\/td><\/tr>
    Sales tax<\/td>13%<\/td>13%<\/td><\/tr>
    Lease term<\/td>3 years<\/td>4 years<\/td><\/tr>
    Interest rate<\/td>6.99%<\/td>7.99%<\/td><\/tr>
    Monthly payment<\/b><\/td>$683.86<\/b><\/td>$697.46<\/b><\/td><\/tr>
    Total cost<\/b><\/td>$24,618.96<\/b><\/td>$33,478.08<\/b><\/td><\/tr><\/tbody><\/table>

    How much is a lease on a $30,000 car?<\/h3>

    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. For lease A, we used the Kia Seltos. For lease B, we used the Toyota Corolla.<\/p>
    <\/th>Car lease offer A<\/th>Car lease offer B<\/th><\/tr><\/thead>
    Sale price<\/td>$30,000<\/td>$30,000<\/td><\/tr>
    Estimated resale value<\/td>$18,650<\/td>$23,100<\/td><\/tr>
    Down payment<\/td>$0<\/td>$0<\/td><\/tr>
    Sales tax<\/td>13%<\/td>13%<\/td><\/tr>
    Lease term<\/td>3 years<\/td>3 years<\/td><\/tr>
    Interest rate<\/td>5.49%<\/td>6.69%<\/td><\/tr>
    Monthly payment<\/b><\/td>$481.43<\/b><\/td>$383.03<\/b><\/td><\/tr>
    Total cost<\/b><\/td>$17,331.48<\/b><\/td>$13,789.08<\/strong><\/td><\/tr><\/tbody><\/table>

    Based on this example, it can cost around $380 to $500 per month to lease a $30,000 car. Even though lease B has a higher APR, it costs less overall because the car keeps more of its value over the term.<\/p>

    How much is a lease on a $70,000 car?<\/h3>

    You can use a lease payment calculator to figure out how much a lease is on a $70k car, but here\u2019s another example to guide you. For car lease A, we used the Ford F-150 Lightning. For lease B, we used the Audi all-new Q5 Sportback.<\/p>
    <\/th>Car lease offer A<\/th>Car lease offer B<\/th><\/tr><\/thead>
    Sale price<\/td>$70,000<\/td>$70,000<\/td><\/tr>
    Estimated resale value<\/td>$36,200<\/td>$46,000<\/td><\/tr>
    Down payment<\/td>$0<\/td>$0<\/td><\/tr>
    Sales tax<\/td>13%<\/td>13%<\/td><\/tr>
    Lease term<\/td>3 years<\/td>3 years<\/td><\/tr>
    Interest rate<\/td>3.99%<\/td>4.48%<\/td><\/tr>
    Monthly payment<\/b><\/td>$1,259.29<\/b><\/td>$996.83<\/b><\/td><\/tr>
    Total cost<\/b><\/td>$45,334.44<\/b><\/td>$35,885.88<\/strong><\/td><\/tr><\/tbody><\/table>

    Based on this example, it can cost around $1,000 to $1,300 per month to lease a $70,000 car. Even though lease B has a higher APR, it costs less overall because the car loses less of its value over the term.<\/p>

    What do these car lease terms mean?<\/h3>
    • Sale price.<\/strong> The vehicle price can be either the manufacturer-suggested retail price (MSRP) or the price you\u2019ve negotiated. It will be the baseline you use to calculate how much to lease a car per month and the total cost of your lease.<\/li>
    • Down payment.<\/strong> Most leases require that you have a down payment that covers at least 10\u201320% of the vehicle\u2019s value. However, exactly how much to lease a car will depend on your income and creditworthiness \u2014 the stronger your application, the smaller your down payment will likely have to be.<\/li>
    • Estimated resale value.<\/strong> The estimated residual value is the amount the vehicle will be worth after the lease period ends. It typically accounts for depreciation as well as mileage and average wear and tear.<\/li>
    • Sales tax.<\/strong> Sales tax is often bundled in the cost of your lease. The exact amount you pay will depend on both provincial\/territorial and federal law.<\/li>
    • Lease term.<\/strong> The lease term is the amount of time you\u2019ll be driving \u2014 and paying for \u2014 your vehicle. Usually, it lasts anywhere from two to four years.<\/li>
    • Interest rate.<\/strong> The interest rate will have the most impact on figuring out how much it costs to lease a vehicle.<\/em> It\u2019s often referred to as the lease factor and will be written as a decimal.<\/li><\/ul>

      What is the interest rate on car leases?<\/h3>

      The interest rate you\u2019re 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 3% and 15%.<\/p>

      The best way to find out what interest rates you\u2019re eligible for on your car lease is to discuss your options with the dealership you\u2019re interested in. You can then use a Canadian lease payment calculator to work out how much you\u2019ll pay.<\/p>

      Not sure leasing is right for you? Compare car loan options<\/h3>
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