Calculator

EV lease calculator

Pick a car and your state. We work out the monthly payment the way lenders do, show every step, and put it next to buying with a loan. Money factor and residual change monthly by brand, so ask the dealer for theirs and type them in. See current EV lease deals.

Price
$

Residual is a percent of this.

$

What you negotiate. Lower is better.

$

Lost if the car is totaled early. Keep it low.

$

Maker lease cash and state rebates.

Lease terms

Multiply by 2,400 for the rough APR.

%

Set by the lender for this term and mileage.

months
mi
mi/yr
$/mi
Tax and fees
%

State average with local tax. Edit for your ZIP.

$
$
$
If you bought it instead
$
$
%

Average new-car APR about 7.0% (Cox).

months

Estimated monthly payment

–

Due at signing
–
Total over the lease
–
APR equivalent
–

How we got there

    Lease vs. buy over 36 months

    Loan payment
    –
    Lease net cost
    –
    Loan net cost
    –
    Car value at end
    –
    Loan balance at end
    –

    Net cost is what you paid minus the equity you keep. We value the car at the lease residual, which is the lender's guess. If EV prices fall, the car may be worth less and the lease wins by more.

    The formula

    Adjusted cap cost = selling price + fees rolled in − down payment − rebates
Residual          = MSRP × residual %
Depreciation      = (adjusted cap cost − residual) ÷ term
Rent charge       = (adjusted cap cost + residual) × money factor
Base payment      = depreciation + rent charge
Payment with tax  = base payment × (1 + tax rate), where tax is charged monthly

    Estimate only, not a quote. Lenders round differently and some states tax rebates or the down payment. Default values are examples, not market rates: no reliable national benchmark for EV money factors exists. About 46% of new EVs were leased in Q1 2026 (Experian).

    Before you sign

    • Negotiate the selling price first. A lease payment is built on it, and dealers can move it just like on a purchase.
    • Ask for the money factor in writing. Dealers can mark it up. Multiply by 2,400 to compare it with a loan APR.
    • Keep the down payment near zero. If the car is totaled early, gap coverage pays the lender, not you. Money you put down is usually gone.
    • Ask for the residual for your exact term and mileage. It changes every month and differs by trim.
    • Check the state rebate rules. Some programs accept leases only with a minimum term.
    • Compare the total, not the payment. Stretching the term can lower the payment and raise what you pay.

    EV leasing explained · Lease or buy?