Deciding whether to lease or buy your next car is a big financial decision. Our Lease vs. Buy Calculator helps you quickly compare the true costs of leasing versus buying to see which makes more sense for your budget and lifestyle.
Our calculator considers all critical factors, including the purchase price, down payments, loan interest rate, loan term, expected resale value, monthly lease payments, and any fees associated with leasing.
When buying, the total cost includes loan interest, depreciation (difference between purchase and resale), and upfront costs. It's important to consider how quickly your car might depreciate and how much it could be worth when you're ready to sell or trade-in.
Sales tax and yearly maintenance add to those costs as well. Factoring them in alongside the purchase price gives a clearer sense of how ownership stacks up against leasing, especially when a lease includes its own acquisition fee.
Leasing usually means lower monthly payments, but you'll face restrictions and potential fees, especially if you exceed mileage limits or incur excessive wear. Our calculator includes these potential costs for a clear comparison.
Your decision should consider lifestyle choices, financial goals, driving habits, and how long you plan to keep the car. Leasing often suits those who like newer cars frequently, while buying is better for long-term ownership.
Start your calculation now to make an informed choice!
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