Federal Consumer Leasing Act Model Disclosure
[Click here for the entire federal model lease form]

Your monthly payment is determined as shown below:

Gross capitalized cost. The agreed upon value of the vehicle ($20,000) and any items you pay over the lease term (such as service contracts, insurance, and any outstanding prior credit or lease balance) $22,000

Capitalized cost reduction. The amount of any net trade-in allowance, rebate, noncash
credit, or cash you pay that reduces the gross capitalized cost - 1,000

Adjusted capitalized cost.
The amount used in calculating your base monthly payment = 21,000

Residual value. The value of the vehicle at the end of the lease used in calculating your base monthly payment - 9,000

Depreciation and any amortized amounts. The amount charged for the vehicle's decline in value through normal use and for other items paid over the lease term = 12,000

Rent charge. The amount charged in addition to the depreciation and any amortized amounts + 4,000

Total of base monthly payments. The depreciation and any amortized amounts plus the rent charge = 16,000

Lease term. The number of months in your lease ÷ 36

Base monthly payment = 444

Monthly sales/use tax + 34 +

Total monthly payment = $ 478