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Buy or Lease a Car (Vehicle)?

When we plan to acquire a car, a truck or any other kinds of vehicle, we always wonder what cost the most between financing and leasing. Financing is like a mortgage; you make payments on the vehicle until the balance reach $0.00, and the car is yours at the end. In the case of long term leasing, you make payments to use the vehicle during the term. At the end, you don't own the vehicle but you have an option to buy it. The buying option is established on a lease contract and is call the residual value. The one who leases pay during the term the equivalent of the amount to finance minus the residual value, plus the other costs.

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Please change the suggested values with your own in the blue text boxes.

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Vehicle Contract terms

Leasing Financing
$
 Help
$
Vehicle minus exchange Help
$ $
 Help
% N/A $
 Help
 Help
% % $
Taxes on the down payment Help
$ N/A
Leasing Financing
Net amount to finance Help
$ $
 Help
months months
% %
Monthly payments Help
$ $
Monthly payments plus taxes Help
$ N/A
 Help
% % $
Taxes on the residual value Help
$ N/A
Residual value plus taxes Help
$ N/A

Total cost including interests and taxes

Leasing Leasing and
purchasing
Financing
Interests Help
$ $ $
Taxes Help
$ $ $
Other fees $ $ $
Total interests and taxes $ $ $
Cost of the transaction Help
$ $ $
        
 

To learn more about this chart, please read the chart section in our introduction.

Cost when purchasing the vehicle

Leasing A:
Leasing without cash down and exchange
Financing A:
Financing without cash down and exchange
Leasing B:
Leasing including cash down and exchange but excluding the investments (see extended version)
Financing B:
Financing including cash down and exchange but excluding the investments (see extended version)
Leasing C:
Leasing including cash down and exchange with the investments (see extended version)
Financing C:
Financing including cash down and exchange with the investments (see extended version)
 
 
Numbers in our calculators are rounded to two decimals.
The same calculations made in an Excel spreadsheet may differ slightly.

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