The term, lease calculator, as it applies to car leasing, refers to an online calculator such as this one that calculates lease payments and costs when provided the key factors of a lease which are: capitalized cost, capitalized cost reduction, term, residual value, and money factor.

Although such online lease calculators are very convenient, payments can also be calculated by hand or on a common drugstore handheld calculator using the standard lease payment formula. A business calculator such as the HP 17BII can also be used if the standard formula is programmed into it.

A basic online lease calculator is useful when using a smartphone or mobile device.