Are you wondering how much that lease will really cost? This lease calculator will give you the monthly payment, the amount of interest, and the total amount you’ll pay on a lease.
How to use the calculator:
Fill in the required fields and click on the “Calculate” button to see the results. Here’s what each of the fields means:
- Loan Amount: the amount the borrower has to repay.
- Residual Value: the value that the owner of an asset can expect to obtain when the asset is dispositioned.
- Interest Rate: the amount charged by a lender to a borrower.
- Lease Term: the total length of your lease, expressed in months.
- Monthly Payment: a payment done on a monthly basis.
- Total Payments: the total amount of payments made.
- Total Interest: the total amount of interest paid over the loan’s term.