Versus Buy Calculator — Lease

To get an accurate result from a lease versus buy calculator, you need to input specific variables: : The agreed-upon value of the vehicle. Down Payment : The cash you are putting down upfront.

: This varies significantly by state and local municipality. 🚗 Which Option Fits Your Lifestyle? Choose Leasing If: You prefer driving a new car every 2 to 3 years. You want the lowest possible monthly payment. You drive a predictable number of miles each year. You use the vehicle for business and want tax deductions. Choose Buying If: You plan to keep the vehicle for 5 years or longer. You drive more than 15,000 miles per year. lease versus buy calculator

You want to build equity and eventually eliminate monthly payments. You like to customize or modify your vehicles. To get an accurate result from a lease

The table below illustrates a typical financial comparison for a $35,000 vehicle over a 36-month period. Financial Factor Leasing a Vehicle Buying with a Loan Lower (covers depreciation only) Higher (covers full vehicle cost) Upfront Costs First month + security deposit Down payment + taxes and fees Vehicle Ownership No ownership; returned at term end Full ownership after loan payoff Mileage Limits Strict limits (typically 10k-15k/year) Unlimited mileage Wear & Tear Charges applied for excess damage You are responsible for all repairs Long-Term Cost More expensive (perpetual payments) Cheaper (asset retained after payoff) 🔑 Key Inputs for Your Calculator 🚗 Which Option Fits Your Lifestyle

: The estimated value of the car at the end of the lease.

: Usually expressed in months (e.g., 24, 36, or 48).

: The cost of borrowing for both options.