Car Lease Calculator
This car lease calculator estimates your monthly payment for the vehicle you're thinking about leasing. Just input the data and the calculator does all the work for you.
If you want to compare leasing versus buying check out this lease vs buy calculator also.
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How To Get The Best Deal On Your Next Car Lease And Lower Your Monthly Lease Payment
Need to figure out your monthly car lease payment?
You’re not alone.
Car leasing is a popular option with several benefits for both the buyer and seller.
This Car Lease Calculator will help you determine important factors including your monthly lease payment, depreciation fee, lease fee, pre-tax monthly payment, and the monthly sales tax payment.
Read on to learn more about leasing a car and your responsibilities as a lessee so you can get the best deal on your next car lease.
Car Leasing Basics
Car leasing is a contractual agreement allowing you to use a vehicle for a fixed period of time under specified terms rather than purchasing the car. Stated another way, it is a financing arrangement in which you make a down payment, monthly payments, and maintain the car until the lease period ends at which point your return the car to the lessor.
Car leasing has become very attractive to consumers since it is a more affordable method of vehicle financing than purchasing. It allows you the luxury of always driving late model, newer cars rather than owning one car until it is old and worn out. Roughly 20% of the cars driven in the United States are leased cars.
Though the monthly payments for car leasing are lower compared to traditional auto loans, leasing isn’t the best option for everyone. Before you sign a contract for a lease, it is essential that you check the benefits, criteria for leasing, and possible complications you may encounter during the lease period. You can compare buying a car with leasing a car using the Lease vs. Buy Car Calculator.
Also, be sure to check the monthly payment to find out if it suits your budget. Use the Budget Calculator to determine what you can afford.
Your Responsibilities As A Lessee
Once you’ve determined if you can afford leasing a car, it’s important to understand your responsibilities. You must:
Benefits of Car Leasing
With these responsibilities in mind, let’s consider the benefits of car leasing:
The Downside of Car Leasing
How To Make Sure A Car Lease Is The Best Deal
Leasing your next car may be the best deal depending on your situation and needs. Here are some factors to keep in mind.
Before you sign the lease agreement, make sure that you understand all your responsibilities as a lessee and the terms stipulated in the contract. Read the fine print. Ask the dealer to spell out all regulations and requirements ahead of time to avoid confusion.
Finally, verify the car dealer’s lease calculations using this car lease calculator to make sure everything is right before you commit to the contract.
Car Lease Calculator Terms & Definitions
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