Is this 1% rule of thumb based on a 10K/yr lease? I’m looking at 15K/yr.
1% is @ 12k/yr. For 10k subtract $20 a month, for 15k, add $20.
The difference between 10k/yr and 12k is 1% of the car’s original MSRP, plus rent.
The difference between 10k/yr and 12k is 3% of the car’s original MSRP, plus rent.
On a $20K MSRP car with .00050 MF, it’s ~$18/month between 10k and 15k per yr.
On a $60K MSRP car with .00050 MF, it’s ~$52/month between 10k and 15k per yr.
On a $60K MSRP car with .00200 MF, it’s ~$60/month between 10k and 15k per yr.
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The “monthly should be less than 1% MSRP” is just a rule of thumb so YMMV and it is only good to see if you are in the “ballpark”. I think this rule of thumb is useful until we stop seeing “offers” that are really, really, really bad like some of the posters here are getting (first time leasers) like $800/mo on a ~$50k MSRP car – sadly, they happen 
Jeep Grand Cherokee at 42K down to say 37k
at 0 down 36/12 first payment drive off…
what is a good payment… I’m trying to get under $400 and no dealer seems close…