Lease vs. Buy Calculator
Compare total out-of-pocket cost over the same period to see whether leasing or financing makes more financial sense for you.
Compare Your Options
Cost Over Lease Term
Total Cost to Lease
$0
Net Cost to Buy
$0
| Buying: payments made in period | $0 |
| Buying: remaining loan balance | $0 |
| Buying: minus resale value | $0 |
Enter your numbers to see which option costs less over the lease term.
Leasing vs. Buying: What to Consider
Leasing Tends to Make Sense When
- You like driving a new car every 2–3 years
- You drive fewer miles than the lease's annual allowance
- You prefer lower monthly payments and minimal maintenance costs
- You use the vehicle for business and can deduct lease payments
Buying Tends to Make Sense When
- You plan to keep the car well beyond the loan term
- You drive high annual mileage
- You want to build equity and eventually own the car outright
- You want the freedom to modify or sell the vehicle anytime
Once you've financed a purchase, use the auto loan calculator to see your full monthly payment and amortization schedule, or the car affordability calculator to check the purchase fits your budget.
Disclaimer: This tool provides a simplified comparison. It does not account for
lease mileage penalties, maintenance differences, insurance differences, or tax treatment, all of
which can affect the true cost of each option.