Auto Lease Calculator Excel Template

Leasing an auto is a popular alternative to buying a car outright. This calculator helps you estimate your monthly lease payments, down payment requirements, and total lease cost. You can also download a free Excel template to track your lease payments and compare different lease options.

How to Use This Calculator

To use the auto lease calculator:

Enter the vehicle price (the total cost of the car you want to lease).
Enter the down payment (the amount you'll pay upfront).
Enter the lease term (the length of the lease in months).
Enter the monthly payment (the amount you'll pay each month).
Enter the annual mileage (the number of miles you expect to drive each year).
Click the Calculate button to see your estimated monthly payment and total lease cost.

The calculator will display your estimated monthly payment and total lease cost. You can also download an Excel template to track your lease payments and compare different lease options.

Formula Used

The auto lease calculator uses the following formula to estimate your monthly payment:

Monthly Payment Formula

Monthly Payment = (Vehicle Price - Down Payment) × (1 + (Interest Rate × Lease Term)) / Lease Term

Where:

Vehicle Price is the total cost of the car you want to lease.
Down Payment is the amount you'll pay upfront.
Interest Rate is the annual interest rate for the lease.
Lease Term is the length of the lease in months.

The calculator also calculates the total lease cost by multiplying the monthly payment by the lease term and adding the down payment.

Worked Example

Let's say you want to lease a car for $30,000 with a $3,000 down payment, a 3.5% annual interest rate, and a 36-month lease term.

Using the formula:

Monthly Payment Calculation

Monthly Payment = ($30,000 - $3,000) × (1 + (0.035 × 3)) / 36

Monthly Payment = $27,000 × (1 + 0.105) / 36

Monthly Payment = $27,000 × 1.105 / 36

Monthly Payment = $29,895 / 36

Monthly Payment = $830.42

Your estimated monthly payment would be $830.42. The total lease cost would be $3,000 (down payment) + ($830.42 × 36) = $32,775.12.

Excel Template

To help you track your lease payments and compare different lease options, we've created a free Excel template. The template includes:

A lease payment schedule
A comparison of different lease options
A breakdown of your lease costs

To download the Excel template, click the button below:

Download Excel Template

Note

The Excel template is for informational purposes only. It does not constitute financial advice. Always consult with a financial advisor before making any major financial decisions.

FAQ

What is the difference between leasing and buying a car?

Leasing a car typically involves a shorter-term commitment (usually 2-4 years) and lower monthly payments compared to buying a car outright. However, you may be responsible for more costs, such as taxes, insurance, and maintenance. Buying a car typically involves a longer-term commitment and higher upfront costs but may offer more flexibility and lower long-term costs.

How do I know if leasing is right for me?

Leasing may be right for you if you want to drive a new car every few years, prefer lower monthly payments, or don't want to be responsible for the full value of the car. However, if you want to keep the car at the end of the lease, buying may be a better option. It's important to compare the costs of leasing versus buying and consider your personal financial situation.

What happens at the end of a lease?

At the end of a lease, you typically have the option to return the car, buy it, or lease a new car. If you return the car, you may be responsible for any wear and tear. If you buy the car, you'll pay the remaining balance and take ownership of the car. If you lease a new car, you'll sign a new lease agreement.