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## Lease Calculator

The Lease calculator helps you determine the best lease that fits your needs. A lease is an agreement that covers a period of time, usually two to five years, between two parties for use of property by one of the parties in exchange for a specified payment.*

• Enter ballpark values by clicking on and dragging the sliders left or right. Enter exact numbers by clicking on the number in the box and type your number (no commas).
• Solve for different variables by clicking on the radio button in front of a label name. You cannot change values if the radio button is selected.

Help

Lease Term
The lease term is the number of months the lease will be in effect. You can select one of the radio buttons next to the number of months your lease will run.
Lease Plan
There are three options from which to choose:
**True Lease –** A contract whereby the lessor grants to the lessee the right to use the lessor’s property for a stated period of time. At the end of the lease period, the property is returned to the lessor.
**\$1 Buyout –** A lease that has an option at the end of the lease for the lessee to buy the leased property for one \$1.
**10% Purchase –** A lease with the option for the lessee to buy the leased equipment for 10% of the original purchase price.
Lease Amount
Select this button to figure out how how much you can afford to lease, based on the other variables.
Interest Rate
Select this button to determine how much your interest will be, based on the other variables.
Lease Payment
Select this button to figure out what affects the monthly lease payment.
Graph
The graph displays the average annual costs for the lease term you have selected. The graph shows how the average annual costs of leasing go down the longer your lease runs. The assumptions made for the purposes of a fair comparison are: a) Tax and license fees as well as maintenance and insurance costs are ignored, b) total costs of leasing include the payments made towards the lease. The average annual cost for your lease will increase or decrease depending upon which lease option you choose. You can determine the best lease situation for you by adjusting the variables.

*Calculators provided are estimation tools and do not necessarily reflect products, terms or rates that Home Federal Bank may offer. Please contact your Home Federal banker to verify results.

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