Free online lease calculator to find monthly payment, total payment and also the interest amount. You can set the main lease parameters easily. Try it out now.
• What is lease? Lease is a legal contract which an owner (the lessor) of a specific asset (like a car, land, real estate, other commercial object) grants a second party (the lessee) the right to its exclusive possession and use for a specific period and under specified conditions, in return for specified periodic rental or lease payments.
•What type of leases are there? There are many. You can lease car, real estate, land and other things. The most lease contract contains the following elements: Starting date of the lease, duration of the lease, object of the lease, termination clause, provisions for a security deposit and terms for its return, financial details of the lease, other specific things. Before lease something don’t forget to consult your independent financial advisor and with your lawyer and always read the contract. Do not sign it until you understand every sentence in it.
• What are the main advantages of leasing? In many cases you can have tax savings. You don’t need a capital. You can also avoid the risk of obsolescence.
• How can I use the CalcPark Lease Calculator? This is a simple lease calculator for calculating the key parameters of a general lease contract. Read our Term of Use before calculate anything.
• Meaning of residual value with a really simple example: Residual value is a future value of something (E.g. a car) in the future after use of this stuff. For example a car is sold at a price of $30,000. After a usage of 36 months and lots of miles its value is defined as $10,000 or 50% of the original value. The credited amount, on which the interest is applied, thus is $20,000 present value minus $10,000 future value (or the residual value). Residual value is normally getting smaller as time goes on. Of course there are exceptions, for example if you buy a vintage car, de residual value could be higher after some years.
• What is interest rate? Interest rate is usually a percentage which tells you how much compensation you have to pay to the lender because of using his money for a period of time. For example if a bank loaned you $50,000 for one year you have to pay back $50,000 and also the interest which is $2,500 if the interest rate was 5%.