Equal-period vehicle comparison

Lease vs Buy Car Calculator

Compare one completed lease with owning a purchased car for exactly the same number of months. Account for cash paid and the value remaining in the purchased car.

Comparison assumptions

Comparison period and mileage

Comparison period = full lease term (months)Expected annual miles

Lease quote

Lease down payment / equity contribution ($)Other upfront lease fees and taxes ($)Monthly lease payment including tax ($)Annual mileage allowanceExcess mileage fee ($ per mile)Disposition fee at return ($)Lease maintenance per year ($)

Purchase and loan

All-in purchase price including taxes and fees ($)Purchase down payment / equity contribution ($)Loan interest rate (% annually)Loan term (months)Purchase maintenance per year ($)Estimated resale value at comparison end ($)

Use the full contractual lease term as the comparison period. One monthly lease payment is counted for each month, including any first payment made at signing. Exclude that payment from down payment and upfront fees to avoid counting it twice. Down payments include any positive trade equity you contribute, not just cash.

Loan term may differ from the comparison period. Set purchase down payment equal to price for an all-cash purchase. Enter the contractual interest rate; separately include financed taxes and fees in the all-in purchase price. Use the same expected mileage for both options and a resale estimate consistent with that mileage and age.

This model assumes lease return at term end, with no lease buyout or recovered lease equity. It does not model repeat leases or early termination. Maintenance inputs are annual averages prorated over the period.

Inputs stay in your browser. Prices and resale values are your assumptions, not market predictions.

Comparison method

Lease cost = down payment + upfront fees + all monthly payments + excess mileage charges + disposition fee + maintenance. Excess miles = max(0, annual miles - annual allowance) × comparison months / 12.

Purchase equity = entered resale value - remaining loan balance. Purchase net cost = down payment + loan payments made + maintenance - equity. The remaining loan balance reflects only payments within the comparison period. After loan payoff, payments stop; the final payment may adjust for cent rounding.

The loan uses a fixed monthly interest rate (annual rate / 12), with payment and monthly interest rounded to cents. A zero-interest loan divides principal across the loan term. Annual mileage and maintenance are prorated; the lease contract may specify different allowances or charges.

Both options exclude insurance, fuel, opportunity cost, inflation, unentered fees and sale costs. Add relevant costs consistently when comparing quotes. A resale value higher than your outlay can produce a negative net purchase cost. Estimates are scenarios, not recommendations or guaranteed savings.

Read the CFPB guide to leasing versus buying for ownership and mileage considerations.