The true cost
A lease ad shows a monthly payment and an amount due at signing. The true cost puts the two together. It is the total that you pay across the lease, divided by the number of months.
true cost = (due at signing + payment × (months − 1)) ÷ months
The amount due at signing almost always includes the first payment, so one payment fewer remains. When the amount due is smaller than one payment, it cannot include one, and the formula counts every payment.
Example: a lease at $319 a month for 36 months, with $2,999 due at signing, costs $2,999 + $319 × 35 = $14,164. Divided by 36 months, the true cost is $393 a month.
The true cost calculator does this math for any lease.
A common mistake: counting the first payment twice
Many calculators and summaries spread the full amount due at signing across the months and add it to the payment. For the example above, that is $2,999 ÷ 36 = $83, and $319 + $83 = $402 a month.
That number is too high. The $2,999 due at signing already holds the first payment of $319, so this method counts that payment two times: once inside the $2,999, and once as one of 36 monthly payments. Only $2,999 − $319 = $2,680 is extra money up front. Spread across 36 months, it is $74 a month, and $319 + $74 = $393.
The difference is always one payment across the whole lease. Here it is $319 in total, or $9 a month. On a lease with a higher payment, the mistake is larger.
The deal grade
The grade answers one question: is this a low cost for this kind of car? It uses the true monthly cost as a percent of the MSRP. A $393 true cost on a $31,214 car is 1.26%. A lower percent is a better lease.
Each lease is ranked against the leases of other cars in the same class.
| Grade | Place in the class |
|---|---|
| A+ | The best 5% |
| A | From 5% to 15% |
| B+ | From 15% to 30% |
| B | From 30% to 50% |
| C+ | From 50% to 65% |
| C | From 65% to 80% |
| D | From 80% to 93% |
| F | The last 7% |
The classes are compact cars, midsize cars, large cars, sports cars, wagons, small SUVs, midsize and large SUVs, midsize pickups, full-size pickups, minivans, luxury cars, small luxury SUVs, midsize and large luxury SUVs. A class with fewer than 8 leases is ranked with all cars of the same body type.
A more expensive car can have a better grade than a cheaper one. The grade measures the cost against the price of the car, and not the cost alone.
Where the offers come from
Each offer comes from the public offers page of the car maker, for one ZIP code in each of 30 metro areas. The numbers on this site are from November 11, 2026. Each model page links to the offer page.
The brands are Buick, Cadillac, Chevrolet, Chrysler, Dodge, GMC, Genesis, Hyundai, INFINITI, Jeep, Kia, Lexus, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Ram, Subaru, Toyota, Volkswagen.
What the numbers leave out
- Tax, title, license, and dealer fees. They change by state and by dealer.
- Offers for one group of people, such as current owners. The site shows the offer that is open to everyone.
- A grade for a lease with no stated MSRP. MINI, Nissan, and INFINITI do not state the MSRP of their lease offers.
Leases differ in term and in miles. One lease is 24 months with 10,000 miles a year, and the next is 36 months with 12,000. The site shows both numbers next to each lease and does not adjust for them.
The price at your dealer can be different. These are the advertised examples of the car makers, and a dealer sets the final price.