Compare lease offers and find the real monthly price
Two lease offers with the same monthly payment can have a different total price. The down payment, term, mileage allowance and fees make the difference. Here you can collect the offers and calculate them with your own driving needs.
Worked example
- Expected driving: 15,000 km per year
- Offer 1: Initial payment 2,549.60 CAD · Monthly payment 430.25 CAD · Term 24 months · Included km per year 15,000 km
- Offer 2: Monthly payment 493.98 CAD · Term 36 months · Included km per year 12,000 km · Price per extra km 0.16 CAD · Total fees 637.40 CAD
- Offer 3: Initial payment 1,067.65 CAD · Monthly payment 446.18 CAD · Term 36 months · Included km per year 20,000 km · Refund per unused km 0.06 CAD
Lowest effective monthly price: Offer C
449 CAD per month
| Offer | Term | Total | Per month |
|---|---|---|---|
| Offer A | 24 mo. | 12,875 CAD | 536 CAD |
| Offer B | 36 mo. | 19,855 CAD | 552 CAD |
| Offer C | 36 mo. | 16,174 CAD | 449 CAD |
The effective monthly price spreads the total price of the agreement over its own term. A short agreement cannot necessarily be repeated at the same price.
What is an effective monthly price?
The effective monthly price spreads the total entered costs over the months of the agreement. If you pay 12,000 at the start and 2,000 a month for 24 months, the total is 60,000. That equals 2,500 a month before any other expenses.
Mileage charges can be added based on your expected driving. Any refund for fewer kilometers is only included if it is stated in the agreement.
Guide to a fair comparison
Find the information in the contract
Note the down payment, number of payments, setup fee and return fee. Then check whether service and other fixed expenses are included. Use the same expected annual driving for all offers.
Watch out for different terms
An agreement of 12 months does not necessarily give the same economics as one of 36 months. A lower effective monthly price also does not tell you what a new offer will cost when the short agreement expires.
Also compare what you get for the money. The size of the car, equipment, commitment and return conditions can differ. The calculator makes the costs visible; it does not remove the differences between the cars. Use the lease or buy calculator if buying is also an option.