Lease vs Buy Calculator

Compare estimated monthly payments and total costs over the same time period — without assuming one option is always better.

Vehicle information

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Buy details

Cash paid upfront toward the purchase.

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Lease details

Capitalized cost reduction — reduces the amount being leased, similar to a down payment.

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The money factor is used to calculate the financing portion of a lease payment. Multiply by 2,400 for an approximate APR equivalent.

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Residual value is the vehicle's estimated value at the end of the lease.

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Taxes & fees

Choose whether each fee applies to buying, leasing, or both.

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36-month comparison

Both options are compared over the same 36 months (your selected lease term), not the full loan length.

Lease payment

$522/mo

Buy payment

$684/mo

Monthly difference

$162/mo

Lease payment is lower — a lower payment is not automatically the better financial choice.

Lease cost over 36 months

$21,627

Buy cost over first 36 months

$28,466

Lease estimate

Estimated monthly lease payment$522/mo
Amount due at signing$3,371
Total lease payments$18,778
Total cost over lease term$21,627
Residual value$19,250
Lease term36 months
Annual mileage allowance12,000 miles
Total allowed mileage36,000 miles

Buy estimate

Estimated monthly payment$684/mo
Estimated amount financed$34,949
Estimated total interest$6,080
Estimated total loan payments$41,029
Total cost over full loan term$46,978
Loan term60 months

Ownership position

At the end of the 36-month comparison period, a lessee generally does not own the vehicle unless they exercise a purchase option. Part of each loan payment builds toward ownership.

Buy — principal paid

$19,598

During the comparison period

Buy — remaining loan balance

$15,351

After 36 months of payments

Estimates are for informational purposes only. Actual lease and financing terms, taxes, fees, incentives, residual values, money factors, mileage allowances, and payments may vary by vehicle, dealer, lender, location, and individual qualifications.

How to use this calculator

Start with the vehicle price, sales tax rate, and any incentives or trade-in details. Enter separate assumptions for buying (down payment, APR, loan term) and leasing (cap cost reduction, money factor, residual value, mileage allowance, and lease-specific fees).

The comparison uses your selected lease term as the shared time window — so you see what each option costs over the same number of months, not the full loan length. Monthly payment differences are shown for context, but a lower payment does not automatically mean the better overall choice.

Expand calculation details to review depreciation, finance charges, amount financed, and remaining loan balance at the end of the comparison period.

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Frequently asked questions

It depends on how long you plan to keep the vehicle, how many miles you drive, and whether building equity matters to you. This calculator helps you compare estimated costs over the same period — it does not pick a winner for you.

More Car Buying Tools

The information provided in this article is for general informational purposes only and may change over time. Vehicle pricing, availability, specifications, incentives, financing terms, interest rates, and other details may vary by vehicle, dealer, lender, location, and individual circumstances. AutoFinder does not guarantee the accuracy or availability of information provided by third parties. Always confirm current vehicle details, pricing, terms, and eligibility directly with the participating dealer or appropriate provider before making a purchase or financial decision.