Leasing Agree Lease Formula
Description
How to fill out Leasing Services Agreement?
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FAQ
To accurately evaluate a lease deal, the total cost of the lease must be compared to the initial value of the vehicle ? MSRP sticker price. The lower the total lease cost measured against MSRP, the better the deal.
Multiplying depreciation by the interest rate gets you the total lease payment before sales tax. If you're paying monthly sales tax, you'll multiply that amount by the applicable sales tax rate to get your total lease payment.
Generally, a good deal is when your monthly payment is equal to one percent of the retail price of the car, with only drive-off fees due upfront (first month's payment, document fees, and vehicle registration).
The formula is quite simple ? you just multiply the annual lease payment by the present value factor, and that results in the net present value of future minimum lease payments, which is recorded on the balance sheet as the lease liability (and ROU asset).
Step 1 - Create a spreadsheet and set up columns. ... Step 2 - Enter the payment amounts and the payment dates. ... Step 3 - Calculate the interest on each payment. ... Step 4 - Calculate the reduction of the lease liability for each payment. ... Step 5 - Input the formula to calculate the closing balance of the lease liability.