Complete Analysis
Understand the True Cost of Your Lease
Your monthly lease payment does not tell the whole story. When you factor in insurance premiums, the amortized cost of your down payment, and any additional fees, your actual monthly cost is often significantly higher than the payment alone. The LeaseMiles deal analyzer reveals your true effective monthly rate so you know exactly what your lease really costs.
True Monthly Cost
Payment
$459.00
Insurance
$125.00
Down payment (monthly)
$83.33
Fuel savings
-$142.50
What the Deal Analyzer Factors In
Most people only think about their monthly payment when evaluating a lease deal. But the true cost includes several additional components that significantly impact what you actually spend each month. The LeaseMiles deal analyzer accounts for all of these to give you a complete and honest picture of your lease expense.
Monthly Lease Payment
This is the baseline number most people know: the amount you pay each month to the leasing company. The deal analyzer starts here and builds on top of it to reveal the full cost. Whether your payment is $299 or $599, it is only part of the equation.
Insurance Premium
Leased vehicles typically require higher insurance coverage than owned vehicles, including comprehensive and collision coverage with lower deductibles. LeaseMiles lets you add your monthly insurance premium so you can see the combined cost of payment plus insurance together.
Down Payment Amortization
That $3,000 down payment you made at signing does not disappear. LeaseMiles spreads it evenly across your lease term so you can see the true monthly impact. A $3,000 down payment on a 36-month lease adds $83.33 to your effective monthly cost.
EV Fuel Savings Offset
If you are leasing an electric vehicle, your fuel savings directly reduce your effective monthly cost. The deal analyzer includes a toggle to factor in your EV fuel savings, subtracting them from your total to show the net monthly cost of driving your EV lease.
Why Your True Monthly Cost Matters
Understanding your true monthly cost helps you make better financial decisions. A lease that advertises a $399 monthly payment might actually cost you $620 per month when you account for insurance and down payment amortization. On the other hand, an EV lease with a higher payment might have a lower effective monthly cost once you factor in the fuel savings you enjoy by not buying gas.
The deal analyzer gives you the clarity to compare lease offers on an apples-to-apples basis. Instead of comparing sticker payments that leave out important costs, you can compare the true effective monthly rate of each deal. This is especially valuable when deciding between a gas vehicle and an EV, where the monthly payment difference may be offset by fuel savings.