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Auto Lease vs Auto Buy Calculator

This auto loan calculator will help you estimate whether it is better to lease an auto or to buy an auto.

Both of these options have their pros and cons but with this calculator you can determine the total net cost and your monthly payments in order to decide whether leasing or buying is better for you.

This Auto Loan Calculator requires SUN's Java™ Plug-in in order to function. If you see this message, this means that you need to download the SUN's Java™ Plug-in.

You can do that automatically by clicking the yellow bar at the top of the browser you use and choosing “Install ActiveX Control”, or by visiting this link: get the SUN's Java™ Plug-in here!

Used Auto Loan Terminology

Term in months: The time period for your auto lease or auto loan, expressed in months.
Down payment: The cash (or down payment) you are able to put down. The down payment when leasing is often called a capital reduction.
Other fees: Any additional fees (such as license, title transfer fees, etc.) that are required to be paid at the closing of the auto loan or lease.
Purchase price: The total auto purchase price after any manufacturer's rebate.
Interest rate: The annual interest rate for your auto loan or lease.
Sales tax rate: The sales tax percentage rate that is charged on your auto purchase. Sales tax for leasing is included in each payment whereas the sales tax for buying an auto is charged on the total amount.
Annual depreciation: The annual depreciation measures the rate at which your new automobile will be losing its market value per year.
Residual percent: This is remaining value of your car after the lease term expires, expressed in percentages.
Market value of vehicle: This is the car’s value after the lease term is over.
Investment rate of return: This is the return you would get for your investment if you invest the money allocated for the down payment and/or security deposit, instead of giving them for your auto loan or lease. The rate of return can be different depending on the type of investment you choose. Have in mind that your potential rate of return is not ensured against risk or volatility and cannot be predicted for sure.
Lost interest on buy option: This is the missed return you would have earned if you have invested the buy option’s down payment and fees. This may also include lost interest as a result of the higher monthly payments if the leasing monthly payments are smaller. If leasing turns out to be more expensive, the lost interest you would otherwise earn on the difference is subtracted from the interest costs for buying.
Lost interest on lease option: This is the missed return you would have earned if you have invested the lease option’s down payment, security deposit and fees.

The auto loan calculators and the information available on this site are intended to serve only as general guidance regarding auto loans. Since they do not take into account your individual circumstances, we cannot and do no guarantee their accuracy or suitability to a specific purpose. We highly recommend you to consider the appropriateness of any information to your objectives before acting on it, and encourage you to consult a qualified professional regarding you particular personal situation.

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