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Calculate your car lease payment from MSRP, residual value, money factor, and down payment. See monthly cost, total lease cost, and APR equivalent.
A car lease payment consists of two parts: the depreciation charge (difference between capitalized cost and residual value divided by the term) and the finance charge (sum of cap cost and residual multiplied by the money factor).
| Money Factor | APR | Rating |
|---|---|---|
| 0.0010 | 2.4% | Excellent |
| 0.0015 | 3.6% | Very Good |
| 0.0020 | 4.8% | Good |
| 0.0025 | 6.0% | Average |
| 0.0030 | 7.2% | Below Average |
| 0.0040 | 9.6% | Poor |
Formula
Monthly = (Cap Cost − Residual) ÷ Term + (Cap Cost + Residual) × Money FactorCap Cost = negotiated price minus down payment
Residual = MSRP × residual percentage
Money Factor = lease interest rate (APR ÷ 2400)
Worked Example
$33,000 car, $2,000 down, 55% residual, 0.0025 MF, 36 months
Did you know? About 26% of new vehicles in the US are leased rather than purchased, with the average lease payment at $582/month in 2024 (source: Experian Automotive).
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