Use the Atomic Home Loans leasing calculator to calculate the repayments you’ll need to make on a financed vehicle or a piece of equipment that is financed.
By using this leasing calculator, you can compare the total amount payable with various interest rates, leasing terms and with various residual amount.
To use this calculator, start by inputting the purchase price of the vehicle or equipment you are purchasing, or plan to purchase.
Most lenders will allow you to pay a residual at the end of the lease term as a balloon payment. This is generally a costlier option, but it does allow you to reduce your monthly repayments in the meantime.
You are also able to adjust the lease term to your liking and the results will reflect the changes. Keep in mind the longer the term the more you will pay overall. However, with a longer term, you will usually only pay less each month, which could be more appealing to you if you prefer to reduce your payments each month.
Additionally, this leasing calculator will allow you to adjust the interest rate. The results will reflect the interest rate, and you can see how much interest will be payable over the course of the lease.
Finally, the last option is for you to select whether the payments are made in advanced, or in arrears. More often than note, payments will be made in arrears. Paying in advance, however, will reduce the amount of interest you pay on the lease.
This leasing calculator is ideal to use if you are planning to purchase a new vehicle for business purposes, and would like to figure out whether it’s more appealing to increase the lease term, decrease or increase the residual, or spend time researching lenders that will offer the best interest rate possible.See All Calculators