Calculating Car Lease Payment

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Like vehicle purchases, car leases usually involve monthly payments. These payments allow you to drive your vehicle anywhere you're headed, from Toronto, Ontario, to Vancouver, British Columbia.

Pfaff Leasing is here to help drivers learn how car lease payments work before they commit to their next lease. When you're finished reading, contact our team to find a vehicle you'd like to lease next.

What Factors Contribute to a Car Lease Payment?

Calculating a lease payment involves several factors, all of which contribute to the overall cost.

The first factor is the residual value of the vehicle. The residual value is how much the car is worth when your lease is finished. As you drive, a vehicle's worth decreases. You pay for the vehicle's depreciation as part of your lease.

Another factor taken into account is the length of the lease. The lease term can determine how much you drive and, therefore, how much the vehicle's value will change.

Your credit score will also factor into your lease payments. Credit scores help the leasing centre determine how likely you will be able to afford a lease. Those with higher credit scores are likely to get better lease terms and lower interest rates.

What Payments Do You Make for a Car Lease?

At Pfaff Leasing, we strive to create a flexible lease that meets your needs. We have lease options that last as long as 60 months or as few as 12 months.

All our leases begin with a down payment. This down payment can help set the tone for the rest of your lease's monthly payments. The more you put down in the beginning, the less your monthly payments may be.

In addition to a down payment, there will likely be taxes and additional fees, like a vehicle registration fee, that you will have to pay to drive the vehicle legally.

For the duration of your lease, you will have monthly payments. As we mentioned above, these monthly payments are calculated based on the vehicle's depreciation. However, they also are impacted by the interest rate you are charged as part of the lease. Most leases also include taxes in your monthly payments, which will need to be paid as well.

Pfaff Difference

When you lease with us, you'll experience the Pfaff Difference. This is our approach to the customer leasing experience. It begins with our one-no-one approach to your leasing needs. While you shop with us, you'll work with just one of our team members. This one point of contact makes it easy to ask questions and helps our team understand your needs.

We also have an upfront pricing model. From the beginning of your shopping experience, you'll know how much your lease will cost, including any taxes or fees that may apply.

Drivers can explore our inventory online and begin the leasing process from home. This online leasing option allows you to lease on your schedule.

Begin Your Next Lease Today

Now that you know a little more about what goes into calculating a car lease payment, are you ready to begin yours? The team at Pfaff Leasing can help drivers across Toronto, ON, and Vancouver, BC, find a vehicle to lease that they love, including exotic models. While you lease with us, you'll experience the Pfaff Difference.

Contact us to begin your next lease.

  1. Pfaff Leasing

    101 Auto Park Circle
    Woodbridge, ON L4L 8R1

    • Sales: 1-888-923-0755
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