5/5

BASED ON 700+ REVIEWS

2737 Coney Island Ave, Brooklyn, NY 11235 United States
GRAND PRIX MOTORS, INC IS NOT A LICENSED NEW MOTOR VEHICLE DEALER. GRAND PRIX MOTORS INC, IS AN AUTOMOBILE BROKERAGE FIRM AND A USED CAR DEALERSHIP LICENSED AND BONDED IN THE STATE OF NEW YORK. FACILITY ID NO. 7124382. NO WARRANTY REPAIR SERVICES WILL BE PROVIDED. ALL NEW BROKERED VEHICLES ARE COVERED BY MANUFACTURER WARRANTY. GRAND PRIX MOTORS, INC DOES NOT CHARGE ANY FEES FOR ITS SERVICES.

Car Leasing Calculator

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Drive-off

$0

Monthly Payment

$407

Term

24
  • Capitalized Cost$45000
  • Lease Price$42750
  • Residual Value$36000
  • Depreciation Fee$406.25
  • Lease Fee$1.69

Check out our SPECIALS

What is a cheap lease?

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Car lease calculator is important to know to use for a number of reasons. When you can calculate your lease on your phone or tablet even from the dealer’s office, it gives you control over your lease deal! Are you aware of the terms Money Factor, Residual Percentage, Down Payment? Learn how to use them correctly and why you should use a calculator!

CAR LEASE CALCULATOR BENEFITS

FIRST: it enables customers to verify the accuracy of a car dealer’s math in a lease offer or lease contract. Consider if the numbers entered into the calculator are the same as the numbers used by a dealer in his calculations, the results will be exactly the same, down to the penny.

SECOND: a car lease calculator helps consumers to understand how much they can afford to lease. When you try to calculate your lease, you should see if the final monthly payment is appropriate for you. If it doesn’t match your plans, try to reduce the cap cost as many times as it needs to get the monthly lease payment within your budget.

THIRD: a leasing calculator can help you prepare for visiting an expert to discuss a possible lease deal. You have to understand how price changes monthly payment. A car lease calculator helps you do that. Therefore, it’s a great tutorial for preparing to lease. When you know for sure how the math of a lease works with the calculator, you are ready to negotiate!

CAR LEASE CALCULATOR LEASE TERMS

MSRP — Manufacturer’s Suggested Retail Price, the purchase price that a vehicle’s manufacturer recommends it be sold for at point of sale. It is also called a “sticker price”.

Residual Value — the amount that the car is expected to be worth at the end of the lease. Your residual value is based on the number of miles per year you agree to drive (10,000-15,000) and the term of the lease (24 or 36 months and more).

Mileage Limit — a fixed number of miles per year on your lease deal. It usually varies from 10 000 to 15 000 miles a year.

Money Factor — the compensation you pay to the leasing company for the risk they take by trusting you’ll make all lease payments on time. It can be translated into the more common annual percentage rate (APR) by multiplying the money factor by 2,400. Visibly, a lower money factor means lower payments.

Acquisition Fee — an amount that a leasing company charges to cover the administrative costs of setting up a new auto lease. It may also be called the assignment fee, administrative fee, or origination fee.

Capitalized Cost — the value of the vehicle at the beginning of the lease in addition to any extra fees, taxes, and other possible charges. It can be negotiated and the factors that lower your Capitalized Cost are named Cap Cost Reduction.

Security Deposit — a fully refundable charge that can be equivalent to a single month’s lease payment, it protects the leasing company if you go over the allowable mileage, damage the vehicle, or default on the contract.

Down Payment — an initial payment on the vehicle before you have to make any monthly payments. It is also called upfront payment and it can be negotiated.

HOW TO CALCULATE THE INTEREST RATE ON CAR LEASE?

If you want to determine the interest amount, follow a few steps. First, take the purchase price, add the negotiated price and multiply it by the money factor (or interest rate). For instance, take $30,000 plus $28,000 and use a money factor of. 003, your interest would be $174 ($30,000 + $28,000 x . 003 = $174).

HOW TO CALCULATE RESIDUAL VALUE CAR LEASE?

You can find out the residual value of your car by making a few simple actions. You have to know the original value in the Kelley Blue Book or just in your lease terms. Then, subtract the determined depreciation value for the auto from the original value of the vehicle. Finally, you get the result which is the total residual value of the car.

FREQUENTLY ASKED QUESTIONS

How to know you got a good deal on a lease?

A good deal is when you are making a financial commitment with a feeling that you got the best contract you could. You want to be sure about all the details like down payment, taxes, mothly payment, lease term. To start off, use our lease calculator to see if you can arrange yourself a good deal. After that our lease expert will provide you with a free quote that can later be used to sign a contract.

How to use car leasing calculator?

You need to know basic terms in order to estimate your deal. Check our articles on leasing terms (part 1, part 2) to understand them. After that just plug your desired numbers in to estimate what your perfect lease can look like. By calculating your own lease, you can account for factors specific to your deal, like vehicle MSRP, tax rate, targeted incentives, and so on. If you need more help or personal advise - our car lease expert will give you the explanation of the numbers and details to make sure that the calculations estimate your best leasing deal option.

Lease or buy a car - what's better?

Looking through the options of getting a car you will probably speculate of the benefits and drawbacks of each one. Leasing or buying a car may be a a solution for you depending on whether you aim to own it or not. If you consider to buy an auto you will most likely deal with vehicle loan, relatively higher monthly costs and credit score matter. When you get your car ownership all the maintenance, depreciation or selling issues will be there. Along with that you will be able to modify and upgrade your asset. While leasing a car offers you a new car to drive for more affordable monthly payments with fixed conditions. You will agree on the issues of term, mileage, total lease cost with the lease expert and enjoy the benefit of your new car. At the end of the contract you are expected to retrieve the car or if you have other preferences all the details should be discussed with a company.

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