Lease Deal Checker
Type in the numbers from the dealer's quote. We grade the deal, reveal the money factor hidden in the payment and flag anything worth negotiating.
What we found
- Money factor implied by the payment—
- Monthly cost as % of MSRP—
- Discount off MSRP—
- Real monthly cost (incl. down)—
- Depreciation part of the payment—
- Rent charge (finance) part—
- Total paid (payments + down)—
Saved scenarios
100% private. Everything is calculated in your browser. Nothing you type is sent or stored on a server.
Estimates for education only — not financial, tax or legal advice. Lenders may calculate taxes and fees differently by state or province. Always check your contract.
How the grade works
The checker scores the lease out of 100 on four things that decide whether a lease is a good deal:
- Monthly cost vs. MSRP (40 points). The well-known "1% rule": a strong lease costs about 1% of MSRP per month or less, counting the down payment spread over the term.
- Discount off MSRP (25 points). The selling price is negotiable on a lease, just like on a purchase.
- Interest rate (20 points). We work out the money factor that the payment really implies and convert it to an APR.
- Transparency (15 points). If the payment is higher than the quoted money factor explains, something else is in the payment — fees, add-ons or a higher price.
Worked example
MSRP $40,000, selling price $37,500, $1,395 of fees, $2,000 down, 58% residual over 36 months and a $520 payment. Depreciation is about $380 a month, so the remaining $140 is rent charge: an implied money factor of about 0.00232 (5.6% APR). If the dealer quoted 0.00210, about $13 a month is unexplained — a question worth asking.
How to get a better lease deal
- Negotiate the selling price first, then ask for the lender's buy rate money factor.
- Prefer $0 down: money put down is usually lost if the car is totaled early.
- Ask for an itemized worksheet and compare quotes from several dealers.
Rebuild the full payment with the car lease calculator, or check the rate with the money factor calculator.
Frequently asked questions
How do I know if a lease is a good deal?
Compare the monthly cost including the down payment with the MSRP (about 1% or less is strong), check the discount off MSRP and the money factor, and make sure the payment has no unexplained extras.
What is the 1% rule for car leases?
A rule of thumb: a good lease costs about 1% of the car's MSRP per month, with little or nothing down. Luxury cars and high-residual models can beat it; some cars never reach it.
What is a good money factor?
It depends on current rates and your credit. Multiply by 2,400 to get the APR and compare with car loan rates. Ask for the lender's base (buy) rate.
Why is my payment higher than the money factor explains?
The dealer may have added fees, add-ons or a higher price into the lease. Ask for an itemized worksheet.
Should I put money down on a lease?
Many experts say no: if the car is stolen or totaled, the down payment is usually not refunded. A higher payment with $0 down is safer.
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