Lease vs Buy Calculator
Compare the costs of leasing versus buying a vehicle to make an informed decision
What This Tool Does
Compares the total cost of leasing vs buying the same vehicle, including all payments, retained equity, and final ownership value to show which option saves you money.
Who Should Use This
Anyone deciding between leasing or buying. Especially useful if you're unsure about long-term ownership or want to understand the true cost difference.
Key Insight
Buying usually costs less long-term since you build equity, but leasing offers lower monthly payments. The right choice depends on your priorities and situation.
1Enter Vehicle Details
Affiliate disclosure: these partner links may earn CreditDrive Pro a commission at no additional cost to you.
2Results: Buying is Better
Buying saves you:
$11,043
Compared to leasing (after accounting for equity)
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