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Key Features
Instant Calculation
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Compares total out-of-pocket cost over a chosen term: leasing (down payment + monthly payments, and you own nothing at the end) versus buying (down payment + loan payments, minus the car's resale value at the end of the term, since you keep the asset).
How it works
Enter the term, lease down payment and monthly payment, buy down payment and monthly payment, and the car's estimated resale value at the end of the term. Lease cost = down payment + monthly × term. Buy cost = down payment + monthly × term − resale value.
- Enter comparison term (months).
- Enter lease down payment.
- Enter lease monthly payment.
- Enter buy down payment.
- Enter buy (loan) monthly payment.
- Enter estimated resale value at end of term (buy only).
- Click Calculate to see your results.
Examples
A 36-month comparison
Leasing at $2,000 down + $350/month costs $14,600 total. Buying at $3,000 down + $500/month with a $12,000 resale value costs $9,000 net — buying is cheaper by $5,600 in this example.
Who should use it
- Deciding whether to lease or finance a new car.
- Comparing specific lease and loan offers from a dealership.
Industry applications
- Personal finance
- Auto industry consumer decisions
Advantages
- Accounts for resale value, the most commonly overlooked factor in lease-vs-buy comparisons.
- Simple side-by-side total cost comparison.
Limitations
- Doesn't model maintenance cost differences, mileage penalties on a lease, or financing rate differences beyond the monthly payment you enter.
Common mistakes to avoid
- Comparing lease and buy costs without accounting for resale value on the buy side — this understates how much cheaper buying often is over a long term.
Best practices
- Get a realistic resale value estimate (check similar used listings for the same make/model/mileage/age) rather than guessing.
Tips
- Get real lease and loan quotes for the SAME vehicle before comparing — differences in trim or term length between quotes can skew the comparison.