Lease Calculator
 
 

The Lease calculator helps you determine the best lease that fits your needs based on your situation. A lease is an agreement that covers a period of time, usually two to five years, between two parties for use of property by one of the parties in exchange for a specified payment. You may provide these values that are specific to your situation by clicking and entering the numbers in the text fields or simply by clicking and moving the diamond shaped sliders to an appropriate place on the line.  The following descriptions explain the various variables you can use to help you in your decision:

Note: The examples below are based on the assumption that the calculator is refreshed with the default values loaded in.
Lease Term in months   The lease term is the number of months the lease will be in effect. You can select one of the radio buttons next to the number of months your lease will run.
 
Lease Plan   There is four options to choose from:

True Lease - A contract whereby the lessor grants to the lessee the right to use the lessor’s property for a stated period of time. At the end of the lease period, the property is returned to the lessor.

$1 Buy out - A lease that has an option at the end of the lease for the lessee to buy the leased property for one $1.

10% Purchase - A lease with the option to buy the leased equipment for 10% of the original purchase price.

10% Security - This option is good for those who can afford to pay a 10% security on the lease amount at the start of the lease.. At the end of the lease the !0% security deposit can be applied as the buy out. Generally, provided the customer has no outstanding charges at the end of their lease term, the original security deposit may serve as the buy out of the lease.
Lease Amount   This is the amount of the lease that your are considering. You may enter a ballpark figure by using the diamond shaped slider. If you want a more precise figure, you may enter it in the edit box.
For example, you may ask, "If I want a $30,000 lease amount with a 7% interest rate, how much will my Lease payment be?"
Or, "Can I get a $40,000 lease amount ?"
Or, "How much of a lease amount can I get for 36 months at 7.5% with a $1000 monthly lease payment?"
Interest Rate   The interest rate is the cost of borrowing the lease amount. You may use the diamond shaped slider. If you want a more precise figure, you may enter it in the edit box.

For example, you may ask, "At what interest rate can I get a $30,000 36 month lease with a $1,200 monthly lease payment?
Lease Payment   This is the amount of the monthly payment that is paid each month over the lease term. You may use the diamond shaped slider. If you want a more precise figure, you may enter it in the edit box.
 
  As you enter values for the above items, you will notice that the graph displays the average annual costs for the lease term you have selected. The graph shows how the costs of leasing go down the longer your lease runs. The assumptions made for the purposes of a fair comparison are: a) Tax and license fees as well as maintenance and insurance costs are ignored, b) total costs of leasing include the payments made towards the lease. The average annual cost for your lease will increase or decrease depending upon which lease option you choose. You can determine the best lease situation for you by adjusting the variables above to answer questions you may have. Here is a sample list of questions that can be answered: 
    'What will my payment be for a 48 month lease?'
 'What kind of lease payment can I get on a $50,000 lease amount at 7.5%?'
'Which lease term has a lower lease payment, a 24, 36, or 48 month lease?'
'At what interest rate can I get a lease amount of $45,000 with a $1,200 lease payment?'
'Which lease plan would be a better deal, true lease, or $1 Buy out?'
'Which lease plan has a higher average annual cost at the beginning of the lease?' ..