Leasing is the best mode we can buy a car. It is cheaper and faster than a bank loan and is perfectly designed for car buying. A car lease calculator is a financial tool that helps lease customers to calculate their own monthly payments by themselves in front of the computer before they ask the lease consultant to aid them in filling all the forms.
The car lease calculator, beside helping you calculate the monthly payments, also helps you calculate the overall lease costs. It is very important that the user of this calculator to know the basic factors of their lease deal for the car they intend to buy. The car lease calculator helps you discover the hidden fees from the back of a lease contract and also check car dealer figures.
Car Lease Calculator
In few simple steps in which you have to fill some fields, the car lease calculator will analyze your fillings and will provide you an instant answer for your calculation.
First step requires to you to fill the manufacturer suggested retail price, without including in the price the dealer fees, taxes and car options like paint sealant or fabric protectant, but you can include in the price the window stickers for your vehicle.
Next step is filling the base capitalized cost. This cost is the price you and the car dealer negotiated. In this price you don’t have to include any other fees or costs because are some other fields that will require for these costs.
Third step is filling the costs added or included to lease, for example bank fee, insurance, warranty or tax for luxury cars. In this field do not include any money that you will pay cash for any fee or tax.
The firth step you purchase for calculating the monthly payment of your lease is filling the values of the payments you made upfront, like down payment or a rebate from the manufacturer. After that the calculator is computing the net capitalized cost of the car. This cost is the cost from where were removed all the money you paid upfront and all other fees and taxes you entered in the previous steps fields.
The sixth step is the filling of the residual value, which can be a value or a percentage, depends on the lease company you use. The seventh step is a little bit delicate because you will have to ask your lease agent. In this step you have to fill the money factor or the interest rate of the leasing company.
Next you have to fill the term of your lease in months that usually are 24, 36 or 48. It is very important that the lease contract to be shorter in time then the warranty given by the car manufacturer.
And the final step is filling the sales tax accordingly to the state, county or city you live in. and by pressing next step you will have everything calculated and established a monthly payment according to the dates you field in along the steps we talked about. You can also print this report and show to the leasing company that you already know everything about your leasing.
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