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Lease Worksheet
By Jon Acuff
Are you thinking about leasing a car? Read Leasing Basics for a high-level look at this payment method. If you're trying to decide between a lease and a loan, use the Lease vs. Loan Quiz.
But if you already know you want a lease, this worksheet can help you compare different options. Fill it out to avoid any of the surprises that can arise from the complex nature of leasing and use it to make an informed decision about which lease works best for you.
| Lease Information | Lease 1 | Lease 2 | Lease 3 | |
| 1. | Vehicle - Make | |||
| - Model | ||||
| - Trim Level Package | ||||
| - Other | ||||
| How much will you have to pay? | ||||
| 2. | Vehicle price | $ | $ | $ |
| 3. | Amount due at signing | $ | $ | $ |
| 4. | Capitalized cost reduction (down payment) | $ | $ | $ |
| 5. | Additional up-front costs | $ | $ | $ |
| 6. | Acquisition fee | $ | $ | $ |
| 7. | Security deposit | $ | $ | $ |
| 8. | Trade-in and rebate amount | $ | $ | $ |
| 9. | Capitalized cost (amount financed) | $ | $ | $ |
| 10. | Residual value (worth of vehicle at end of lease) | $ | $ | $ |
| 11. | Monthly payment including taxes | $ | $ | $ |
| 12. | Interest rate (APR) | $ | $ | $ |
| 13. | Total finance charge | $ | $ | $ |
| 14. | Regular maintenance included |  Yes No
|
Yes No
|
Yes No
|
| 15. | End of lease costs, including disposition fee | $ | $ | $ |
| What type of commitment is required? | ||||
| 16. | Length of lease | ____ months | ____ months | ____ months |
| 17. | End-of-lease purchase option | Yes No
|
Yes No
|
Yes No
|
| 18. | How is early termination payoff calculated (e.g., balance remaining minus the amount credited for the vehicle)? | |||
| 19. | Additional early termination fees | Yes No
|
Yes No
|
Yes No
|
| 20. | Total cost of early termination | $ | $ | $ |
| How many miles a year can you drive? | ||||
| 21. | Mileage limit per year | ____ miles | ____ miles | ____ miles |
| 22. | Cost of purchasing additional miles upfront | $ | $ | $ |
| 23. | Per mile fee if over limit | $ | $ | $ |
| How will your insurance be impacted | ||||
| 24. | Insurance requirement for bodily injury to 1 person | $ | $ | $ |
| 25. | Requirement for injury to 2 persons per accident | $ | $ | $ |
| 26. | Requirement for property damage | $ | $ | $ |
| 27. | Max deductables allowed | $ | $ | $ |
| 28. | Gap protection provided | Yes No
|
Yes No
|
Yes No
|
| 29. | If no, cost of gap protection | $ | $ | $ |
| Lease summary | ||||
| 30. | Reasons this lease may work for you | |||
| 31. | Reason this lease does not work for you | |||
Leasing is ultimately a personal decision that must be based on your individual vehicle and financial needs. We encourage you to print this worksheet as one of many sources of information you use to arrive at the best leasing option.
Some information in this worksheet was derived from www.federalreserve.gov.
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