Lease or Buy Auto Calculator

Lease or buy auto calculator will tell you if you should lease or buy auto taking into account the monthly payments and the total payment

Leasing Pros:

  • + You have lower monthly payments with a low — or no — down payment.
  • + You can drive a better car for less money.
  • + You have lower repair costs because you are under the vehicle's included factory warranty.
  • + You can more easily transition to a new car every two or three years.
  • + You don't have trade-in hassles at the end of the lease.
  • + You pay less sales tax.

Leasing Cons:

  • - You don't own the car at the end of the lease (although there is always the option to buy).
  • - Your mileage is typically limited to 12,000 miles a year (you can purchase extra).
  • - You may find lease contracts confusing and filled with unfamiliar terminology.
  • - You'll pay more in the long run for a leased car than you will if you buy a car and keep it for years.
  • - You could face excessive wear-and-tear charges. These can be a nasty surprise at the end of the lease.
  • - You will find it costly to terminate a lease early if your driving needs change.

Buying Pros:

  • + You can modify your car as you please.
  • + You'll save money over the long term if you buy a car.
  • + You can drive as much as you like. There's no excess mileage penalty.
  • + You have more flexibility since you can sell the car whenever you want.
  • + You can use the car as a trade-in on the next car you buy.

Buying Cons:

  • - You have to pay a higher down payment to avoid being upside down in the loan (owing more than the car is worth).
  • - Your monthly car payments are higher than lease payments.
  • - You're responsible for repair costs once the warranty expires.
  • - You face possible trade-in or selling hassles when you decide to get your next car.
  • - You'll have more of your cash tied up in a car, which depreciates in value.

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Yout total payment for will be $ in leasing vs $ on loan