Lease vs Buy Car Calculator
Overview
Compare total costs of leasing versus buying a car over 3-5 years. Factor in monthly payments, down payments, residual value, and depreciation to find the better deal.
Key Facts
| Field | Value |
|---|---|
| Calculator ID | lease-vs-buy |
| Category | Finance |
| Vertical | Finance & Personal Wealth |
| App route | /verticals/finance/lease-vs-buy |
| API endpoint | /api/public/calculate?id=lease-vs-buy |
Inputs
| Input ID | Label | Type | Required | Default | Constraints |
|---|---|---|---|---|---|
carPrice | Car Price (MSRP) | currency | Yes | 35000 | min 10000, max 200000, step 1000 |
leaseMonthlyPayment | Monthly Lease Payment | currency | Yes | 450 | min 100, max 2000, step 10 |
leaseTerm | Lease Term (months) | select | Yes | 36 | - |
leaseDownPayment | Lease Down Payment | currency | Yes | 2000 | min 0, max 10000, step 100 |
buyDownPayment | Buy Down Payment | currency | Yes | 7000 | min 0, max 50000, step 500 |
loanAPR | Loan APR (if buying) | percent | Yes | 6.5 | min 0, max 15, step 0.1 |
loanTerm | Loan Term (if buying) | select | Yes | 60 | - |
milesPerYear | Miles Driven Per Year | number | Yes | 12000 | min 5000, max 30000, step 1000 |
residualValue | Residual Value % (lease) | percent | Yes | 55 | min 30, max 70, step 1 |
How to Use
- Enter Buy Details — Input your down payment for buying, loan APR (interest rate), and loan term in months.
- Add Your Driving Habits — Enter annual mileage. Leases typically allow 10k-15k miles/year with $0.25/mile overage fees.
- Compare Results — Review total costs, depreciation, and net costs to see which option saves more money over the comparison period.
Result Surfaces
| Output | Display Type | Format |
|---|---|---|
| Computed results | result-card | - |
Related Calculators
FAQ
Is it better to lease or buy a car?
Depends on your situation. Lease if: you drive under 12k miles/year, want new car every 3 years, don't want maintenance worries. Buy if: you drive 15k+ miles/year, keep cars 7+ years, want to build equity, or need to customize. Buying is usually cheaper long-term.
What are the hidden costs of leasing?
Excess mileage fees ($0.25/mile over limit adds up fast), wear-and-tear charges (scratches, dents), early termination penalties ($3k-5k), and acquisition/disposition fees ($500-1,000). Always inspect car before lease-end to fix issues yourself cheaper.
Can I negotiate a car lease?
Yes! Negotiate 3 things: capitalized cost (sales price), money factor (interest rate), and trade-in value. Don't just focus on monthly payment. Get multiple dealer quotes. Best times to lease: end of month/quarter when dealers have quotas to hit.
Evidence
src/lib/calculators/registry.ts(metadata)src/lib/calculators/page-registry.ts(page/HowTo metadata)src/lib/calculators/finance/lease-vs-buy.ts(calculator config)