Reviewer, 2008-06-24 05:29:00
It takes you step-by-step through a few easy questions about the lease. Then the software will analyze your answers and give you your results instantly. Find monthly payments, calculate total lease costs, discover hidden fees, and check dealers` figures.
Pros: Car Lease Calculator Software is a freeware tool that allows you to calculate the monthly lease payment and the overall lease costs. The program takes you through a set of questions. These are essentially questions about sticker price, negotiated price, down payments and so on. The program has the logic built in for lease calculations based on money factor and such issues as residual value of the vehicle. One may have to confirm from the leasing company about what they consider the residual value and what money factor do they apply to feed these into the program. The program then analyzes and gives you the data about monthly payments, total lease costs, hidden fees etc. You are then in a position to make out if the dealer has loaded up any hidden factors and are able to finalize your lease details knowledgeably. The program explains the terms used and how the whole calculation is arrived at. It uses MSRP- the manufacture’s suggested retail price; this would include the price of any dealer installed equipment over the base price. Do not include dealer fees, taxes, or non-equipment options such as paint sealant, fabric protector, or window tinting and suchlike. Base Cap Cost or the Lease Price or the negotiated lease price for the vehicle is the next major item. This is the vehicle negotiated or discounted price that you and the dealer agree upon, which is usually a discount off the sticker price. It is called Base Capitalized Cost in a lease contract. Nice thing about this program is this explanation provided. This makes it understandable to an average person rather than sounding as mumbo-jumbo.
Cons: Usual caution about version 1.0 applies but I did not see any problematic issues though.
Overall: This is a 5 star application in its category. It is very usable for most people when they are about to buy a vehicle.
