How to calculate your car lease payment
Want to enjoy the benefits of owning a car without all the hassle? Want to go on long drives without worrying about how long it is before your investment depreciates completely? Seems like a car lease could just be the thing for you.
With ALD automotive, you can drive the car you want, without having to own it.
At ALD Automotive, we believe car leases are synonymous with flexibility and freedom. The freedom to choose your range depending on your budget and eligibility. The flexibility to upgrade your car sooner. Leasing a car offers you a solution to your finances, as opposed to car loans which add a strain on your finances.
Before we begin calculating your car lease payment, let’s take a look at some of the benefits of leasing cars from ALD Automotive.
You get to choose the model, make, the color and other specifications of the car and lease it for a period ranging from two to a maximum of five years. Your contract is tailor made as per your requirements.
One of the biggest benefits of a car lease is that you only pay for how much you drive. That means you don't have to pay for the depreciating cost of the vehicle. Instead you can invest your money in higher performing assets, and upgrade to a better car after your lease contract ends. Compared to a car loan, the monthly lease rental of the car is much lower. You also don't have to pay a lump sum down payment. This leaves you with more equity to invest in performing assets and make the best of your money.
Car lease packages generally also include insurance and maintenance. This means less hassle for you. Just get behind the wheel, and let ALD take care of the rest. Car lease contracts also have additional services that can lessen your worries. Services like 24x7 roadside assistance, stand-by car and door-to-door maintenance can go a long way in giving you the peace of mind that no self-owned car can provide.
You don't have to worry about the resale value of the car. Leasing a car offers you protection from fluctuations in the price of used cars while also reducing the cost of driving a car of your choice.
If you are thinking of leasing cars for your company's fleet - the benefits get multiplied. Car lease ensures healthier balance sheets - helping your bottom line by eliminating non-performing or depreciating assets off your books. Car leasing offers you a way to do this without compromising on efficiency or employee satisfaction.
A monthly car lease rental allowance also means lower taxable income for salaried professionals. Thus, car leasing can help save tax and unpredictable maintenance costs without compromising on the comforts that owning a car has to offer.
Here's how you can calculate your future car lease payments:
Car leases factor in the depreciating value of the car, the mileage and the duration for which you are planning to use the car. The price of value-added services is also included in your monthly leasing plan.
For example: If a car you like costs 10 lakhs in the market today. Let's say the cost of the used car four years from now will be 4.5 lakhs.
The depreciating value then becomes the difference between the two i.e. 5.5 lakhs for 48 months and 60000 kms, considering a mileage of 15,000 kms every year.
Here's a simple formula for calculating your monthly rental
Your monthly rental = Depreciation funding + cost of added Services (Any other taxes like GST or road tax will be additional)
Watch the video to know more.
Summing up, leasing a car is a great way to drive away from depreciation assets, resale risks, stress and wasted hours. Choose from ALD Automotive's range of various car leasing plans and find the one that fits you best.