Car Lease vs Buy Calculator
Should you lease or buy your next car? Compare total costs side by side and find out which option saves you more money.
Purchase Details
Lease Details
Comparison
Buy Total Cost
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Lease Total Cost
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Verdict
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Monthly Breakdown
Buy Monthly
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Lease Monthly
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How to use the lease vs buy calculator.
- Enter the car's purchase price and your planned down payment.
- Select the loan term (how long you'll finance) and enter the interest rate.
- Enter the monthly lease payment offered by the dealer.
- Select the lease term and annual mileage limit.
- Click "Compare Costs" to see which option saves you more.
Frequently asked questions.
Is it better to lease or buy a car?
Leasing is better if you want lower monthly payments, drive a new car every few years, and stay within mileage limits. Buying is better if you drive many miles, want to customize your car, or keep it after paying off the loan.
What is the biggest disadvantage of leasing?
The main disadvantages are mileage restrictions (typically 10,000–15,000 miles/year), no ownership equity, and potential fees for excess wear and tear. You also can't modify the vehicle.
What happens at the end of a lease?
You can return the car and walk away, buy it at the residual value, or trade it in for another lease. Some dealers also offer lease extensions if you need more time.
Can I negotiate a lease like a purchase?
Yes. The sale price, money factor (interest rate), and residual value are all negotiable. Always negotiate the sale price first before discussing lease terms — this lowers your monthly payments.