Reverse payment / cap cost
Work backward from the monthly payment to implied cap cost—useful when ads hide discounts or roll in fees.
Educational estimate only. Real quotes depend on taxes, fees, acquisition/disposition charges, rebates, and how your state treats leases. Use your contract and broker numbers as the source of truth. Reading lease payments and the lease glossary explain the fields behind these calculators.
Implied net cap cost
$36,007.46
- Residual value
- $24,360.00
- Discount vs MSRP
- $5,992.54 (14.3%)
Works backward from the standard lease formula. If inputs do not match the ad, the broker may be rolling fees or using different tax treatment.
Worked example
Broker ad: "$299/mo · $3,000 DAS · 36mo" — sanity check
- Assumed residual (61%)
- $24,400 on $40k MSRP
- Assumed money factor
- 0.00150
- Rent charge implied
- $96/mo at 0.00150
- Depreciation implied
- $203/mo at $299 − $96
- Implied net cap cost
- $31,708($203 × 36) + $24,400
If the broker can't show $8k+ in rebates or selling-price reduction, fees are being hidden in DAS.
Reverse payment FAQ
Common questions about this calculator. For broader leasing topics, see the full FAQ.
Work backwards from an advertised monthly to the implied net cap cost, given a residual and money factor. Useful for sanity-checking a broker ad: does the price they're advertising actually pencil out, or are fees being hidden in cap cost?
Use the captive-lender program for the model, term, and mileage in the ad. Most broker ads list the assumed term — find the matching program rates and plug them in.
The ad is either using a manufacturer rebate (legitimate) or hiding fees in DAS (often). Ask for the worksheet — if rebates are real, they'll be itemized.