Loan vs Lease Calculator
Which is cheaper for the car you want?
Loan monthly payment:
Cost to own after 3 yrs (net):
Cost to lease after 3 yrs:
Cheaper option:
How to use this calculator
Enter the car price, loan down payment, APR, term, lease term and lease payment, plus residual value, then press Compare. Buying and leasing costs appear with a verdict.
What the result means
The comparison nets the cost to own versus lease over the same period. Leasing costs less monthly but you own nothing; buying keeps the car's value.
Frequently asked questions
Is leasing ever the better deal?
Yes — if you change cars every 3 years and drive under the mileage limit, leasing can be cheaper monthly.
What's residual value?
The car's estimated value at lease end — it drives the lease payment and is the 'equity' you don't keep.