While most Car financing companies and leasing agents Testament calculate your monthly contract fee for you, there is a multi-step formula for calculating monthly charter payments yourself.2. Calculate the invoice price of the machine. This is the payment you may negotiate for or bound up paying for the vehicle (typically lower than the MSRP).3. Calculate the avail reward. Subtract your residual value (from Transaction 1) from the bill price (from Step 2). This is what you are paying to lease the car over the given loan term.
Calculating your lease expenditure can ante up you a ballpark figure to avail when reviewing your monthly budget and contrastive prices or leasing options.
Instructions
1. Catch gone what your motorcar Testament be payment by the extent of the charter expression. Multiply the MSRP by the residual value percentage if by your dealership or dealer. This Testament be the reward of your vehivle when your lease signal is over (residual appraisal).4. Calculate your depreciation. Divide the use value by the number of months in the loan term. This is the amount the car is depreciating each month of your lease agreement (your depreciation payment).
5. Calculate the money factor. Add the invoice price of the car to the residual value, then multiply this by the seller's interest rate. This is the money factor payment you will be making.
6. Calculate your bottom-line lease payment. Add the money factor payment (Step 5) to the depreciation payment (Step 4). This is the total amount you are paying towards the bottom line of your lease agreement.
7. Add taxes. You will be responsible for paying sales tax on every lease payment. This will be your state tax multipled by your bottom-line lease payment.
