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What You Must Understand Before You Lease

Blank Lease Payment Calculation Work Sheet

By: Roosevelt Gist

Lessee
Name:    ____________  Date:  _______  Year:  ________     Make: ____________
Address: ____________  Phone: _______  Model: ________     VIN#: ____________
         ____________         _______  Estimated Annual Mileage: ____________
City/State/Zip:  ____________________

Notes:













                  
1) Compute MSRP: __________________
(Manufacturers Sug. Rtl. Prc.)
 A. Vehicle Purchase Price ________
 B. Dealer Fee             ________
 C. Title/Tax/License Fee  ________
 D. Luxury Tax             ________
 E. Other                  ________
 F. Capitalized Cost       ________
3) Lease Payment Calculations
 A. Lease Term in Months   ________
 B. Initial Value (1F$  ________
 C. Credit to Initial 
    Value (Trade and/or 
    downpayment
)       (-) ________
 D. Service Contract    +  ________
 E. Adjusted Capitalized
    Cost (B minus 
    C plus D
)           =  ________
 F. Residual Value     (-) ________
 G. Depreciation
    (E minus F)         =  ________
 H. Average Monthly Lease  
    Depreciation 
    (G divided by A)       ________
 I. Average Monthly Lease
    Charge (Interest rate 
    or money factor times 
    E+F
)                  +  ________
 J. Base Monthly Lease
    Payment (H plus I=  ________
 K. Use Tax (If payable
    monthly
)            +  ________
       _______ % of J
 L. TOTAL Monthly Lease
    Payment (J plus K=  ________
2) Residual Value Computation
 A. Base Residual 
    (% of MSRP)            ________
    (MSRP % taken from Residual 
    Value Guide Book
)

    Dealer Adds: (Equipment that 
    was not included in MSRP
)

    Air Conditioning       ________
    Cruise Control         ________
    Stereo                 ________
    Sun/Moon Roof          ________
    Wheels                 ________
    Other                  ________

 B. Total                  ________
    Excess Mileage
    Adjustment             ________
    (___ cents x ___ miles over 
     ___ miles annually x term in 
    years
)

 C. TOTAL MAXIMUM RESIDUAL ________
4) Amounts Due Upon Lease Signing *
 A. Credit to Initial
    Value                  ________
 B. Tax on Credit to 
    Initial Value          ________
 C. Refundable Security
    Deposit                ________
 D. Initial Monthly Lease
    Payment (Include sale/
    use tax payable 
    monthly
)               ________
 E. First Years License/
    Registration Fees      
    (If not capitalized)   ________
 F. Service Contract
    (If not capitalized)   ________
 G. Lixury Tax
    (If not capitalized)   ________
 H. Other                  ________
 I. TOTAL (A through H)    ________
* Some of the Amounts may be capitalized
and/or may not be required by your lessor.

 

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