Buy vs Lease Car Calculator

Compare the total cost of buying a car vs leasing.

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Buy vs Lease

Enter the car details to compare buying vs leasing.

Buy

Lease

Better option over 3 years
Buy saves $0
Buy cost: $0 · Lease cost: $0
Buy total cost (3 yrs)
$0
Lease total cost (3 yrs)
$0
Buy monthly cost
$0
Lease monthly cost
$0
Difference
$0
Buy net asset after 3 yrs
$0

Worked example

With the default inputs shown below, this calculator returns the following results:

InputValue
Car price ($)$40,000
Down payment ($)$8,000
Monthly lease payment ($)$450
ResultValue
Better option over 3 yearsBuy saves $11,060
Buy total cost (3 yrs)$8,540
Lease total cost (3 yrs)$19,600
Buy monthly cost$237/mo
Lease monthly cost$544/mo
DifferenceBuy saves $11,060

Values shown are produced by this page in your browser; change any input to update them.

How to use the Buy vs Lease

  1. Car price ($) — default $40,000
  2. Down payment ($) — default $8,000
  3. Monthly lease payment ($) — default $450
  4. Press Calculate to update the results instantly.

Frequently asked questions

Over three years, leasing is often cheaper per month; over six or more, buying wins because the loan ends and you keep an asset.
Mileage overage (often 15-30 cents a mile), excess wear charges, the acquisition fee, and higher insurance because the lessor requires full coverage.
Generally no. A large down payment only lowers the monthly figure; if the car is written off you lose it. Keep the cash and take a slightly higher payment.

Sources & references