Purchase

Purchase Price (excluding tax)

Simple input of the retail price (including all options) of the vehicle without taxes

Freight & PDI

Freight & PDI (pre-delivery inspection) charges

Financing rate

Purchase financing rate as set by either the manufacturer's credit company or a bank

Finance Term

Specified term of the loan in months (usually 24 to 60 months)

Tax Rate

Amount of provincial sales tax and GST

Amount To Be Financed

Calculates the total price of the vehicle with freight, PDI, and all sales taxes

Trade-In Value of Current Vehicle

Value of a vehicle being traded in to count against the retail price of the vehicle. Note that your total obligation will be further reduced by an amount equal to the sales taxes in the value of the trade-in.

Down payment

Amount of the cash down payment to count against the retail purchase price of the vehicle

Leasing Options

Purchase Price (excluding tax)

Simple input of the retail price (including all options) of the vehicle without taxes

Freight & PDI

Freight & PDI (pre-delivery inspection) charges

Financing rate

Purchase financing rate as set by either the manufacturer's credit company or a bank

Lease Term

Specified term of the loan in months (usually 24 to 48 months)

Residual %

Indicates the percentage of the original retail price (without freight & PDI) that the vehicle is estimated to be worth at the end of the lease

Residual Value

Calculated residual value of the vehicle at the end of the lease using the above percentage

Trade-In Value of Current Vehicle

Value of a vehicle being traded in to count against the retail price of the vehicle

Down payment

Amount of the cash down payment to count against the retail purchase price of the vehicle. This is the amount put towards your vehicle before sales taxes are applied.

Monthly Payment

The monthly payment is based on the amount the vehicle will depreciate over the lease term (the total price including freight & PDI minus any trade-in and/or downpayment and the residual value of the vehicle at the end of the lease), upon which the monthly interest is added. Then, added to this is the monthly interest on the residual value (calculated at the same finance rate).

Tax Rate

Amount of provincial sales tax and GST

Taxes

Sales taxes are added to each monthly payment

Total Monthly Payment

Total monthly payment including all taxes

Total Outlay For 1st Lease

Total outlay for the first lease, which includes the sum of all monthly payments plus the original downpayment and/or trade-in

Total Interest Charges For both Leases

Calculates the difference between the sum of all monthly payments (before taxes) and the original amount to be amortized (the price plus freight and PDI minus the residual value, trade-in value and down payment).