Leasing an EV works differently from financing a purchase — your monthly payment is based on the vehicle’s expected depreciation over the lease term, plus a finance charge, rather than paying off the full purchase price. This calculator estimates your monthly payment using the standard lease-payment formula used by most leasing companies.
Enter the vehicle price, your down payment (if any), the residual value percentage (set by the leasing company — check your lease offer for this figure), lease term in months, the lease rate/APR, and your local sales tax rate. The calculator breaks down your depreciation fee, finance fee, and total estimated monthly payment.
FAQ
How is an EV lease payment calculated?
Lease payments combine two parts: a depreciation fee (the vehicle’s expected value loss over the lease term) and a finance fee (similar to interest, based on the lease rate). These are calculated using the vehicle’s cost, residual value, and lease term.
What is residual value in a lease?
Residual value is the vehicle’s estimated worth at the end of the lease term, expressed as a percentage of the original price. It’s set by the leasing company, not negotiable, and directly affects your monthly payment — a higher residual value generally means a lower payment.
Why do EVs often have better lease deals than gas cars?
EV manufacturers and leasing companies frequently set higher residual values and offer incentives on EV leases, partly due to federal or regional EV incentive programs that can be applied directly to lease deals, often making EV leases more competitive than purchase financing.
Does this calculator include all lease fees?
No — this estimates the core monthly payment only. Real lease offers often include additional fees like an acquisition fee (upfront) and disposition fee (end of lease), which aren’t factored into this calculation.
