Chip Seal Cost Calculator

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Estimate your monthly lease payment using MSRP, Money Factor, and Residual Value.

How to Calculate Your Car Lease Payment

Unlike a traditional auto loan, a car lease payment is based on the value the vehicle loses during the time you drive it. This is why understanding the specific components like Money Factor and Residual Value is critical for getting a fair deal at the dealership.

1. The Depreciation Fee

This is the core of your lease. It is calculated by taking the "Net Capitalized Cost" (the price you negotiated minus your down payment and trade-in) and subtracting the "Residual Value" (what the car is worth at the end of the lease). This total is then divided by the number of months in the term.

2. The Rent Charge (Finance Fee)

The rent charge is essentially the interest you pay for the privilege of leasing. Instead of an APR, leasing uses a Money Factor. To find the equivalent APR, multiply the Money Factor by 2,400. For example, a money factor of 0.00125 is equivalent to a 3% interest rate.

3. Sales Tax

In most states, you only pay sales tax on the monthly payment itself, rather than the full value of the vehicle. Our calculator automatically applies your local tax rate to the sum of the depreciation and finance fees.

Real-Life Lease Example

Item	Value
MSRP of Luxury Sedan	$45,000
Negotiated Price	$42,000
Down Payment	$3,000
Residual Value (55%)	$24,750
Lease Term	36 Months
Estimated Payment	~$540/mo

Pro Tips for Lowering Your Payment

• Negotiate the Selling Price: Most people think you can't negotiate a lease, but the selling price (Capitalized Cost) is almost always negotiable.
• Check the Money Factor: Dealerships often "mark up" the money factor provided by the manufacturer's captive finance arm. Always ask for the "buy rate."
• Residual Value is Key: Vehicles that hold their value well (high residual percentage) often have lower monthly lease payments than cheaper cars that depreciate quickly.

function calculateLease() { var msrp = parseFloat(document.getElementById("msrp").value); var sellingPrice = parseFloat(document.getElementById("sellingPrice").value); var downPayment = parseFloat(document.getElementById("downPayment").value) || 0; var tradeIn = parseFloat(document.getElementById("tradeIn").value) || 0; var term = parseFloat(document.getElementById("leaseTerm").value); var residualPercent = parseFloat(document.getElementById("residualPercent").value); var moneyFactor = parseFloat(document.getElementById("moneyFactor").value); var salesTax = parseFloat(document.getElementById("salesTax").value) || 0; if (isNaN(msrp) || isNaN(sellingPrice) || isNaN(term) || term <= 0) { alert("Please enter valid numbers for price and term."); return; } // 1. Calculate Net Capitalized Cost var netCapCost = sellingPrice – downPayment – tradeIn; // 2. Calculate Residual Value var residualValue = msrp * (residualPercent / 100); // 3. Calculate Depreciation Fee var depreciationTotal = netCapCost – residualValue; var monthlyDepreciation = depreciationTotal / term; // 4. Calculate Finance Fee (Rent Charge) // Formula: (Net Cap Cost + Residual Value) * Money Factor var monthlyFinance = (netCapCost + residualValue) * moneyFactor; // 5. Calculate Base Payment var basePayment = monthlyDepreciation + monthlyFinance; // 6. Calculate Total with Tax var totalMonthly = basePayment * (1 + (salesTax / 100)); // Display Results document.getElementById("resNetCapCost").innerText = "$" + netCapCost.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("resResidualValue").innerText = "$" + residualValue.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("resDepreciation").innerText = "$" + monthlyDepreciation.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("resFinance").innerText = "$" + monthlyFinance.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("resTotalPayment").innerText = "$" + totalMonthly.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById("resultBox").style.display = "block"; }