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Leasing Calculator

Our Leasing Calculator will help you determine the monthly and total payments for a lease. In order to do that, you will need to know the initial and residual value of the good that you’d like to lease, the interest rate and the lease term. Our lease payment calculator can help you to decide whether you should lease or buy.

Before deciding to get a lease, it’s important to consider several factors to ensure that it’s the right choice for you. Getting a lease is not always the best option, even if you’re eligible for one. Other alternatives like buying a cheaper car, paying cash or financing a purchase may be worth considering.

Calculating the total cost of leasing prior to signing up is also crucial. You can use a lease calculator like ours to see how much the lease would cost at different price points. This can help you evaluate your options and determine if a lease is the best choice for you.

It’s also important to compare what the lease includes. You should check whether you’ll have to pay for maintenance and if you can choose a local mechanic or if you’ll have to go to a specific workshop. This information can help you decide whether a lease is worth the cost and effort.

What is a Lease?

A lease is a legal and binding contract between a Lessor (known as a Landlord) and a Lessee (the tenant). It is basically the official rent agreement that stipulates how long a person can use the property being rented out to the tenant.

It includes the following details:

  • Terms and conditions of the property use
  • Rent amount
  • Scheduled payment time
  • How long the property will be rented
  • Maintenance details
  • Security deposits

Different Types of Leases in Australia

In Australia there are three types of leases both for residential properties, these are:

  • Short fixed-term agreements – Lease lasts for six months or less
  • Long fixed-term agreements – Lease lasts for one year to five and comes with a lot more protection compared to short term
  • Periodic agreements (month to month) – A flexible contract that has no end date

Types of Commercial Leases

In Australia, there are several types of commercial leases, including:

  1. Gross Lease: In a gross lease, the tenant pays a fixed rent to the landlord, who is responsible for all property expenses such as insurance, taxes, and maintenance.
  2. Net Lease: In a net lease, the tenant pays a base rent plus some or all of the property expenses such as insurance, taxes, and maintenance.
  3. Percentage Lease: In a percentage lease, the tenant pays a base rent plus a percentage of their sales revenue, typically used in retail leases.
  4. Triple Net Lease: In a triple net lease, the tenant pays for all the property expenses such as insurance, taxes, and maintenance, in addition to the base rent.
  5. Full-Service Lease: In a full-service lease, the landlord provides all property services, including utilities, maintenance, and janitorial services, and these costs are included in the rent.
  6. Short-term Lease: In a short-term lease, the tenant leases the property for a limited time, usually less than a year, and the lease may be renewed or extended.
  7. Long-term Lease: In a long-term lease, the tenant leases the property for a longer period, typically several years or more, and may include options for renewal.

If you plan to use the vehicle for business or work-related purposes, you should consider the tax implications. Speak with your accountant to learn more about the full impact of Fringe Benefits Tax (FBT) and other tax-related calculations.Do you need help figuring out how much a lease would cost you? Our financial experts here at Excellence Finance would be more that happy to help you. Talk to one of our mortgage brokers today!

Disclaimer: Keep in mind that lease calculators don’t take into account all fees and charges. The results provided are estimates only and should not be relied upon to make a decision about a loan. Changes in interest rates and other costs can affect the total cost of the lease over time. Borrowers should speak with a qualified Australian Credit Licensee or Authorised Credit Representative (Excellence Finance Mortgage Broker) to discuss their individual situation.

Looking for more financial tools? Check out our other professional calculators!

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