Example of using the car lease calculator
Let's say you wanted to lease a car with a value of $80,000. You're happy to make a residual repayment of $20,000, but you need to make instalments to pay the rest.
You'd enter $80,000 into the purchase price field of the calculator and $20,000 into the residual field.
Your lease quote shows an interest rate of 7.5%, so you enter 7.5% into the interest rate field.
You'd like to see how much repayments would be if you paid over 2 years, so you enter 24 into the leasing term field.
Monthly repayments come out at about $2,800 a month. Maybe that feels a little steep for you, so you enter 36 into the leasing term field instead. Your monthly repayments are now about $2,000.
With this information you can begin a leasing arrangement knowing exactly the terms you'd like to set.
