Calculator
Lease vs Buy Car Calculator
This calculator compares the total cost of leasing a car with the total cost of buying it. Enter the lease terms, the buy loan terms, and the resale value to see which option costs less and by how much.
The lowest rates are only available to the most qualified applicants.
Advertising disclosure: AutoLoanable may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. Read the full disclosure.
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
Leasing and buying reach the same car by different paths. This tool adds up what each costs over the period you enter.
lease cost = down payment + lease payment × lease months
buy cost = down payment + loan payment × loan months − resale value
- lease payment — the monthly lease payment you were quoted
- lease months — the length of the lease
- loan payment — the payment on the buy loan, from the standard amortization formula
- resale value — what the car is worth when you sell it
Lease figures here exclude sales tax, fees, and any disposition charge, and the buy side assumes you sell at the resale value you enter. If the two periods differ, compare the cost per month as well as the total.
What changes your result
Only a few inputs move the number materially. In rough order of impact:
| Input | Effect on the payment | Effect on total cost |
|---|---|---|
| Amount financed | Directly proportional | Directly proportional |
| Interest rate / APR | Directly proportional | Directly proportional |
| Term (months) | Lower payment when longer | Higher total interest when longer |
| Down payment | Lowers the payment | Lowers total interest |
| Trade-in equity | Lowers the amount financed | Lowers total interest |
| Sales tax and fees | Raises the amount financed | Raises total cost |
Enter the rate you were actually offered. This site is not a lender and does not publish rates — a quoted rate is only meaningful next to the term and the amount financed.