Car Lease vs. Buy Calculator

Common Assumptions

Lease Information

Purchase Information

The question of car loan vs lease is a difficult one. Lease deals make expensive cars seem attainable and new technologies like EV, hydrogen and natural gas vehicles can seem risky to buy, yet affordable to lease. The benefit of leasing versus buying a car is that you only pay the difference of the car’s price and what it's expected to be worth at the end of the lease. The disadvantages are that you need to carefully maintain the car throughout the lease term and usually cannot drive more than 15,000 miles per year without incurring major fees. In essence, you are renting, rather than buying the car and doing so to gain an advantage. Taking a step back and considering which way to move forward is wise and our lease vs purchase calculator can help – starting with the assumed lease deal. The most desirable leases are offered for 3 years (36 months) and "money factors" vary – which means the interest on those leases are dependent on your credit rating and/or the deal being offered. Place both the lease information and the purchase information into the tool and our calculator will tell you whether a lease or a purchase is the right choice for you.

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