Lease vs. Buy Calculator

The Equity Myth

The main argument for buying is "equity"—eventually, you own the car. The argument for leasing is "lower payments." However, cars are depreciating assets. "Owning" a 10-year-old car isn't like owning a home; it's often a liability requiring expensive repairs. Leasing ensures you are always driving a car under warranty.

Watch the Mileage Limits

Leasing is only cheaper if you drive less than 10,000–12,000 miles per year. If you have a long commute, the "excess mileage fees" at the end of a lease (often $0.25 per mile) can cost you thousands, making buying the far better option.