Monthly Payments when Leasing or Financing a Vehicle

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The monthly payments calculated on a long term contract for the use of a car or any other vehicle (motorcycle, snowmobile, boat, ATV, RV, etc.) will differ if it is leased or financed. There is in fact a significant difference on the payments if leasing or financing.

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Please change the suggested values with your own in the blue text boxes.

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		Leasing		Financing
Selling price of the vehicle				$
Vehicle taken in exchange Exchange value of an old vehicle with the new one				$
Vehicle minus exchange Net amount to finance after the exchange. In the case of financing, the taxes are calculated after the exchange, which is a way to save taxes.		$		$
% Taxes Taxes on the amount. There is no taxes on the amount if you rent since you don't purchase the product.	%	N/A		$
Other amortized fees Administration fees or others that you add up on the amount to finance for the renting or financing services
Down payment Down payment available at the transaction	%		%	$
Taxes on the down payment In the case of a lease, the taxes are included in the down payment and are paid when getting the vehicle. We substract the taxes from the down payment available before applying it on the amount.		$		N/A

		Leasing		Financing
Net amount to finance Net amount in which the payments are calculate on				$
Term Number of monthly payments		months		months
Interest rate		%		%
Residual value Residual value at the end of the leasing contract. You normally have the option to buy the vehicle at that price when your term ends.	%		%	$
Monthly payments For renting, the payments are executed at the beginning of the month and for financing, at the end.		$		$

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Numbers in our calculators are rounded to two decimals.
The same calculations made in an Excel spreadsheet may differ slightly.

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