Car Lease vs Buy Calculator
Compare the total cost of leasing versus buying a car to make the best financial decision.
Car Lease vs Buy Calculator
Compare the total cost of leasing versus buying a car
Formula
Total Buy Cost = Down Payment + Monthly Payments - Residual ValueHow to Use This Calculator
- 1
Enter car price
Input the total price of the vehicle you're considering.
- 2
Add down payment
Enter how much you plan to put down upfront.
- 3
Set loan terms
Enter the loan term and interest rate for buying.
- 4
Enter lease details
Input the lease term and monthly payment.
- 5
Compare results
See which option costs less over the term.
Frequently Asked Questions
Is it better to lease or buy a car?
It depends on your situation. Leasing typically has lower monthly payments but you don't build equity. Buying costs more upfront but you own the car at the end.
What is residual value?
Residual value is what the car is worth at the end of the loan term. This affects your true cost of ownership when buying.
What are typical lease terms?
Most leases are 24-36 months with mileage limits of 10,000-15,000 miles per year.