Two Free Car Leasing Tools
Here are a couple of car leasing tools that you can use over and over again. The basic car lease evaluator is the most simple of the free tools. It comes with data already entered just to serve as an example. To evaluate your own lease using the basic version, you will only need to enter amounts into the four, available fields: MSRP, Monthly Payment, Lease Term, and Down Payment. The lease calculator will automatically fill-in the rest of the fields; Average Car Payment, Lease Value Ratio, and your Lease Evaluation.
The lease evaluation, which is on the bottom of the form, is based on the Lease Value Ratio. The lower the number the better. Generally, any lease at or below an LVR of 1.0% is considered excellent. But, anything above 1.25 is poor. The basic lease evaluator will make it easy for you to determine what your desired payment should be to get a good lease deal on the car based on its MSRP.
The advanced, car lease calculator is the most powerful of these car lease tools because it will allow you to enter in your actual lease details including the residual value and interest rate or money factor. So, to get started simply enter your amounts. Scroll below the form for complete instructions.
How to use the Car Lease Calculator
The advanced, Car Lease Calculator takes things a couple of steps beyond the basic lease evaluator. In addition to the evaluation tool, the advanced car lease calculator makes it possible to determine your lease payment based on the actual Car Leasing Terms: Also, you will need to know and enter your Interest rate (money factor), Residual Value, Down Payment (Cap Reduction), and Terms Duration.
The highlighted links will help you understand the meaning of the lease jargon and make you better informed. Dealers do not usually disclose this information during your lease negotiation, but they are required by law to provide it at your request. But, one important consideration to remember is that if you change your lease term, the residual value must also change since residual values are determined by the depreciation amount of years gone by. So, you will learn a lot just by experimenting.
Lease Evaluation Ratings
The Lease Evaluation, which is based on LVR, has several different ratings, and the most common are Poor, Average, Good, Very Good, and Excellent.
There are a few more ratings, but you may have to enter some very unusual figures to see them all. Have fun using these free tools. I hope you find them useful.
The Basic car lease evaluator is the fastest and easiest way to find out what kind of deal you are getting on a car lease. Also, it is the most fun. In conclusion, what are you waiting for? To get started simply enter your amounts. Scroll below the form for complete instructions. Enjoy the free car lease tools.
Subscribe to my Free Newsletter
Get the Latest, Monthly Car Lease Deals Delivered to your Desktop