Lease vs Buy Calculator
Enter your numbers to compare the true cost of leasing vs buying.
1Enter Vehicle Details
$10,000$100,000
$100$2,000
1224364860
$0$15,000$30,000
0%7.5%15%
2Results: Buying is Better
Buying saves you:
$11,043
Compared to leasing (after accounting for equity)
Lease Total$17,253
Buy Total$24,210
Retained Equity$18,000
Net Buy Cost$6,210
3Cost Comparison Chart
4Detailed Comparison
| Leasing | Buying | Difference | |
|---|---|---|---|
| Monthly Payment | $450 | $495 | $45 |
| Down Payment | $0 | $6,390 | $6,390 |
| Total Payments | $17,253 | $24,210 | $6,957 |
| Ownership at End | No | Yes | - |
| Vehicle Equity | $0 | $18,000 | $18,000 |
| Net Cost | $17,253 | $6,210 | +$11,043 |
Other Considerations
Leasing Advantages
- ✓Lower monthly payments
- ✓New vehicle every few years
- ✓Lower repair costs (under warranty)
- ✓No trade-in or selling hassles
- ✓Lower upfront costs (often no down payment)
Buying Advantages
- ✓Build equity over time
- ✓No mileage restrictions
- ✓Freedom to modify vehicle
- ✓No wear-and-tear penalties
- ✓Lower long-term costs
Key Takeaway
Buying appears more economical for your situation. If you plan to keep the vehicle for many years or drive high mileage, buying is typically the better financial choice in the long run.
What's Next?
Now that you understand the cost comparison, take these next steps.
Explore Loan Details
Get detailed payment breakdowns and amortization schedules if you choose to buy.
Check Credit Impact
See how your credit score affects the interest rate on your auto loan or lease.
Compare Financing Sources
Learn about different lenders and find the best financing for your decision.
Need help understanding terms? View Glossary or Check FAQ