See the whole payment, not one number
Change the car, the term, the mileage band and the plan. Every line is printed, including the money factor to APR conversion that most quotes leave out.
The payment desk
Build the payment
Depreciation falls when the residual rises. Rent charge falls when the money factor falls. Nothing else moves. Watch which line responds when you change a control.
| Depreciation | $340.36 |
|---|---|
| Rent charge | $106.53 |
| Short-commitment premium | $0.00 |
| Standard coverage bundle | $232.00 |
| Georgia tax at 7.0% | $47.52 |
| All-in monthly payment | $726.41 |
Sample figures for illustration. Your rate depends on credit approval and the vehicle sourced.
Turn any money factor into an APR
A money factor is a lease rate written as a small decimal. Multiply it by 2400 and you get the annual percentage rate. The multiplier is 2400 rather than 1200 because the charge is applied to the sum of cap cost and residual, which is roughly twice the average balance outstanding.
A quote that will not tell you its money factor is hiding its finance cost. Every car on this fleet publishes one.
Money factors across the fleet
| Car | Money factor | Equivalent APR | Residual at 36 |
|---|---|---|---|
| Hyundai Ioniq 5 | 0.00165 | 3.96% | 52% |
| Honda Civic Hatch | 0.00185 | 4.44% | 61% |
| Toyota Camry | 0.00188 | 4.51% | 60% |
| VW Jetta | 0.00192 | 4.61% | 55% |
| Toyota RAV4 | 0.00198 | 4.75% | 62% |
| Subaru Outback | 0.00205 | 4.92% | 59% |
| Kia Telluride | 0.00210 | 5.04% | 57% |
| Mazda CX-5 | 0.00215 | 5.16% | 58% |
| Ford Maverick | 0.00225 | 5.40% | 63% |
| Chevy Colorado | 0.00240 | 5.76% | 54% |
The six words that decide the number
- 01Capitalised cost
- The agreed price of the car before anything is added. Lower is better, and it is the only number you can negotiate on a conventional lease.
- 02Residual value
- What the car is forecast to be worth at the end, as a percentage of MSRP. Set by the finance source, not negotiable, and the biggest single lever on your payment.
- 03Depreciation
- (Cap cost minus residual) divided by the term. The part of the car you use up and pay for.
- 04Money factor
- The lease finance rate, written as a small decimal. Multiply by 2400 for the APR.
- 05Rent charge
- (Cap cost plus residual) multiplied by the money factor. The finance cost each month.
- 06Coverage bundle
- On a subscription, the insurance, maintenance, tyres, roadside and registration that a lease leaves to you.
Georgia tax is applied to the monthly subscription payment at a sample 7.0%. Your actual rate depends on your county. Over-mileage is charged at the end of the term, at $0.25 per mile on Flex and Standard and $0.20 on Premium.
Want the desk to check your figures?
Read your money factor and residual down the phone and they will tell you what the equivalent APR is and whether the quote in front of you is marked up. There is no obligation and nothing is run against your credit file.
- Answered in about 40 seconds, Mon to Fri 8:00 am to 7:00 pm
- No hold music queue, no transfer to a sales team
- Nothing is run against your credit file on a phone call
Call the desk
(404) 555-0180Saturday 9:00 am to 4:00 pm. Email desk@leaseyatl.example any time and you will hear back the next business day.