Calculate monthly lease payments for a car or equipment and compare with buying via loan.
| Depreciation per Month | — |
| Finance Charge per Month | — |
| Total Lease Cost | — |
The monthly payment here is the asset value minus down payment and minus residual, spread over the term, plus a finance charge of (asset value minus down payment plus residual) x annual rate / 2400. This is the method Edmunds describes for US car leases (https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html), including converting an interest rate to a money factor by dividing by 2,400. It is a projection, not an Indian lender or vendor standard, and it leaves out fees, taxes, registration, mileage limits and any other charges in your lease. Use your lessor's quote for the real figure. You pay for the depreciation during the term, which can make monthly payments lower. However, you do not own the asset at the end unless you exercise a buyout option.
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