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Compute your monthly lease payment using the money-factor method — depreciation + rent charge + tax — plus acquisition and disposition fees, trade-in equity, incentives, mileage overage and your state's tax method.
Tax rules vary by state — check your dealer worksheet if unsure.
First month's payment $470.78 + down / drive-off $2,000.00.
You're within your 12,000-mile annual allowance, so no overage charge is estimated.
Monthly = (adjusted cap cost − residual) ÷ term + (adjusted cap cost + residual) × money factor. The first term is depreciation; the second is interest ('rent charge'). Money factor = APR ÷ 2400, and residual = MSRP × residual %.
Adjusted cap cost = negotiated cap cost + acquisition fee + rolled-in negative equity − down / drive-off − trade-in value − manufacturer rebate. Negative equity is (amount still owed on the trade-in − trade-in value), floored at zero. The disposition fee is excluded here because it's charged at lease end, not financed.
Tax method: on monthly-tax, each payment is multiplied by (1 + tax rate). On upfront tax, the payment is untaxed and the tax is charged once on the total of scheduled payments, added to cash due at signing instead.
Mileage overage = (expected annual miles − allowance) × term in years × the per-mile overage rate. Cash due at signing = first month's payment + down / drive-off + any upfront tax. Total lease cost = total of payments + down + upfront tax + disposition fee + estimated mileage overage.
It's how leases express interest. Multiply by 2400 to get the APR equivalent. MF = 0.0025 ≈ 6% APR.
The vehicle's projected value at lease end. Higher residual = lower depreciation portion = lower monthly payment.
Most US states tax each monthly payment (not the whole price) on a lease. Some tax the cap cost or the total of payments up front.
Not really — if the car is totaled, insurance pays residual to the lessor and you lose your down payment. Keep it small.
A bank fee charged by the leasing company to set up the lease, typically $500–$1,095. It's almost always rolled into the capitalized cost, so it raises your monthly payment slightly rather than your cash due at signing. Some dealers will let you pay it upfront instead.
A $300–$500 fee charged at lease end when you hand the car back without buying it or leasing another vehicle from the same brand. Many captive lenders waive it if you re-lease or buy from them, and in some states it's negotiable at signing — ask before you sign, not at turn-in.
You pay a per-mile penalty at lease end, typically $0.15–$0.30 per mile. At $0.25/mile, going 5,000 miles over costs $1,250. If you know you'll exceed the allowance, buying extra miles upfront at signing is usually cheaper than paying the penalty later.
The shortfall is negative equity and it gets rolled into the lease's capitalized cost, raising every monthly payment. Rolling negative equity into a lease is especially costly because you never build equity in a leased car — you finish the term having paid off the old loan with nothing to show for it.
Most states tax each monthly payment, which spreads the cost across the term. Others charge tax upfront on the total of payments (or on the full cap cost), which can add thousands to your cash due at signing. Same car, same deal — very different amount of cash on day one.
Results are estimates for educational purposes only and are not financial advice. Verify with a qualified professional before making decisions.
Last updated October 2026