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Car lease calculator

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Not sure if a lease is worth it? Calculate the total cost to see how much you might pay.

When you’re comparing different leases to see which will work better for your budget, you can use these examples to help guide your expectations:

Car lease offer ACar lease offer B
Vehicle price$25,000$20,000
Estimated residual value$16,000$12,000
Down payment$2,000$1,500
Sales tax7.25%7.25%
Lease term2 years3 years
Interest rate3.99%6.5%
Monthly payment$382.35$282.24
Total cost$9,176.40$10,160.64

What do these car lease terms means?

What other costs should I consider with a car lease?

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 increase the price of your vehicle.

  • 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 a few hundred to a few thousand dollars to the yearly cost of your lease.
  • Extra mileage. Most leases come with a set number of miles you can drive each year, usually between 10,000 and 15,000. If you go over, you may be charged a fee per mile.
  • 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.
  • Residual value. Your monthly payment is set by the estimated residual value on your vehicle. If it’s worth less at the end of the lease term, you may have to pay extra fees. But if it’s more, you may be cut a check for any amount you overpaid.

Bottom line

If you prefer to be behind the wheel of the latest car model or only plan on driving a few thousand miles each year, a car lease might be right for you. But calculating how much it will cost you in the short and long term can help ensure you find a lease that works with your budget and lifestyle.

You can read our guide to leasing versus financing a car to learn more about your options.

Not sure leasing is right for you? Compare car loan options

Updated May 22nd, 2019
Name Product Filter Values Minimum Credit Score Loan Term Requirements
300
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
SuperMoney Auto Purchase Loans Marketplace
SuperMoney Auto Purchase Loans Marketplace
600
1 to 7 years
Fair to excellent credit, an income source, US citizen or permanent resident, 18+ years old
Find an offer and get rates from competing lenders without affecting your credit score.
300
Varies by lender
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Good to excellent credit
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Fair or better credit
From 2 years
Car must be less than 10 years old with fewer than 120,000 miles. Current loan must have a balance between $5,000 and $55,000 and at least 24 months left in its term.
Lower your monthly car payments and save on interest through a fast and easy online application process.
510
Varies
Income of $2,000+/month, vehicle has less than 150,000 miles and is no older than 8 years, loan balance is between $10,000 and $100,000, debt-to-income ratio is less than 50%
Connect with a network of over 150 lenders to refinance your car loan.
Good to excellent credit
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.

Compare up to 4 providers

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