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Car Leasing Calculator (Portugal)

How much is the monthly rent on a car leasing? This calculator estimates the rent from the vehicle value, the initial down payment, the nominal annual rate (TAN), the term and the residual value (the buy-out at the end). Because leasing is a rental with an option to buy, it shows two totals: what you pay if you keep the car at the end and what you pay if you hand it back. The figures are shown without VAT.

Leasing finances the vehicle value minus the down payment. The rent amortises down to the residual value, the buy-out you pay at the end if you want to keep the car. The figures are shown without VAT: leasing rents and the buy-out are subject to VAT at the standard rate (23%), explained in the article.

Monthly rent
€464.70
Total if you buy the car
€34,305.49
Total if you return the car
€28,305.49

At the end of the contract you decide: pay the buy-out and keep the car, or hand it back. Figures shown without VAT.

Leasing summary

Vehicle value€30,000.00
Initial down payment€6,000.00
Financed amount€24,000.00
TAN (nominal annual rate)6.9%
Number of rents48
Monthly rent€464.70
Total rents (48 rents)€22,305.49
Residual value / buy-out (20%)€6,000.00
Total if you buy the car at the end€34,305.49
Total if you return the car at the end€28,305.49
Of which interest€4,305.49

Educational estimate, not financial advice. It works out the rent (French amortisation) on the financed amount (vehicle value minus down payment) at the TAN you choose, amortising down to the residual value. Figures are shown without VAT; leasing rents and the buy-out are subject to VAT at the standard rate (23%), non-deductible for private individuals. It does not include commissions, insurance or stamp duty.

What car leasing is

Car leasing (locação financeira in Portugal) is a contract where a leasing company buys the car and rents it to you for a term in exchange for a monthly rent. The car belongs to the leasing company until the end of the contract; at that point you have a buy-out option (the residual value) you can exercise to keep the car, or you can hand it back. It is this buy-out at the end that sets leasing apart both from a car loan (where the car is yours from day one) and from renting (a rental that usually bundles insurance and maintenance and has no buy-out).

Down payment, rent and residual value

The initial down payment is what you pay up front and it reduces the amount financed. The monthly rent is fixed and amortises the financed amount down to the residual value. The residual value (buy-out) is a slice of the value kept until the end: the higher it is, the lower the rent, but the more you must pay at the end to keep the car, and the more total interest, because the capital stays outstanding for longer. In leasing, the residual value is usually quoted as a percentage of the vehicle value.

How the rent is calculated

The rent is constant (the "French" amortisation system): each rent covers that month’s interest on the outstanding balance and repays the rest, down to the residual value at the end. The formula is rent = (financed − residual ÷ (1 + i)^n) × i / (1 − (1 + i)^−n), where i is the monthly rate (the TAN divided by 12) and n is the number of months. With no residual, the rent reduces to that of a fully-amortising loan, as in a car loan.

Buy or return at the end, and VAT

At the end of the contract you decide: pay the residual value and keep the car, or hand it back. That is why the calculator shows the total if you buy (down payment + rents + residual) and the total if you return it (down payment + rents), the difference being exactly the buy-out. Mind the VAT: in leasing, the rents and the buy-out are subject to VAT at the standard rate (23% on the mainland) and, for a passenger car, that VAT is generally not deductible for a private individual, so it is a real extra cost. This calculator shows the figures without VAT; the article explains the VAT in detail.

Worked example

On a €30,000 car with a €6,000 down payment (financing €24,000) over 48 months (4 years), at a 6.9% TAN and a 20% residual value (€6,000), the rent is about €464.70 a month (without VAT). If you exercise the buy-out at the end, you pay about €34,305 in total (down payment + rents + the €6,000 buy-out) and keep the car. If you return the car, you pay about €28,305 (down payment + rents) and keep nothing. On top of these you must add the VAT on the rents and the buy-out.

Frequently asked questions

How is a car leasing rent calculated?
You finance the vehicle value minus the down payment and apply the amortisation (French-system) formula, amortising down to the residual value: rent = (financed − residual ÷ (1 + i)^n) × i / (1 − (1 + i)^−n), where i is the monthly rate (the TAN ÷ 12) and n is the number of months. This calculator applies that formula to your figures and shows the rent without VAT.
What is the difference between leasing and a car loan?
With a car loan the car is yours from the start (usually with the bank holding title until it is paid off) and it remains yours at the end. With leasing, the car belongs to the leasing company during the contract and only becomes yours if, at the end, you pay the buy-out (the residual value); you can also hand it back. Another practical difference is VAT: leasing rents are subject to VAT at the standard rate, whereas the interest on a loan has no VAT.
What is the residual value in leasing?
It is the value of the buy-out option at the end of the contract, that is, how much you pay to keep the car. It is usually quoted as a percentage of the vehicle value. A higher residual value lowers the monthly rent, but it means a larger payment at the end if you want to buy the car, and a higher total interest.
Does leasing have VAT?
Yes. The rents and the buy-out of a car leasing are subject to VAT at the standard rate (23% on the mainland). For a passenger car, that VAT is generally not deductible for a private individual, so it is a real cost added to the figures. This calculator shows the figures without VAT, so you can see the financing part; add the VAT for what you actually pay.
Leasing or renting: what is the difference?
Leasing (locação financeira) is a rental with a buy-out option: at the end you can pay the residual value and keep the car. Renting (or ALD, long-term rental) is an operating rental that usually bundles services such as insurance, maintenance and assistance, with a higher rent, and normally has no buy-out: at the end you return the car. This calculator covers leasing; renting is a distinct product.
Are the figures guaranteed?
No. It is an educational estimate at the rate, term and residual value you choose, and without VAT. A real offer may include commissions, insurance, stamp duty and the VAT on the rents, and is subject to approval. It is not financial advice.

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Author: Thorben Rasmus Idel · Reviewed by: Nahar Geva · Last reviewed: 2026-06-26