Should you lease or buy your next car? Compare the real cost.
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Leasing has lower payments but you own nothing at the end. Buying costs more per month, but the car is worth something when the lease would have ended — and you keep using it.
The calculator compares the net cost over the lease term: everything you pay, minus the car's value less any loan still owed, plus the interest your down payment could have earned.
| Car price | 35000 |
| Lease payment a month | 450 |
| Lease term | 36 months |
| Lease down payment | 2000 |
| Down payment if buying | 5000 |
| Loan APR | 7% |
| Loan term | 60 months |
| Car value at lease end | 55% |
| Sales tax when buying | 0% |
| Return on savings | 4% |
| Currency | $ Dollar |
| Cheaper over 3 years | Leasing by $2,578 |
| Net cost of leasing | $18,450 |
| Net cost of buying | $21,027 (after selling for $19,250) |
| Loan payment | $594.04 a month |
| Lease payment | $450.00 a month |
| Loan still owed at lease end | $13,268 |
Leasing by $2,578.
| Car price | 50000 |
| Lease payment a month | 650 |
| Lease term | 36 months |
| Lease down payment | 2000 |
| Down payment if buying | 5000 |
| Loan APR | 7% |
| Loan term | 60 months |
| Car value at lease end | 50% |
| Sales tax when buying | 0% |
| Return on savings | 4% |
| Currency | $ Dollar |
| Cheaper over 3 years | Leasing by $6,954 |
| Net cost of leasing | $25,650 |
| Net cost of buying | $32,604 (after selling for $25,000) |
| Loan payment | $891.05 a month |
| Lease payment | $650.00 a month |
| Loan still owed at lease end | $19,902 |
Leasing by $6,954.
Buying is usually cheaper if you keep the car 5+ years; leasing suits people who want a new car every 2–3 years and drive under the mileage limit.
You pay only for the depreciation during the lease plus finance charges, not the whole car.
Usually yes, at the residual value in the contract.
Often, because lease payments can be a deductible business expense in many countries.