Lease vs. Buy a Car: Compare the Same Months and Miles
A lease payment covers expected depreciation, rent charge, tax and fees; a loan payment builds ownership. Compare net cost over the same period, not the two monthly payments.
Lease vs. Buy Calculator
Normalize lease and purchase cash flows to the same months and expected use.
Calculations stay in this browser. No entries are saved.
Compare access cost with ending equity
The lease ends with return charges. The purchase ends with value and loan payoff. Both paths must use the same months and miles.
- Match time and mileage
- Total cash paid on both paths
- Subtract purchase equity
Lower-cost path over your time horizon
Calculated resultNot available
Use a lease worksheet and purchase quote for the same vehicle, tax treatment and period.
How lease and purchase cash flows are aligned
Lease net cost adds due-at-signing cash, monthly payments and expected end charges. Purchase net cost adds down payment and payments, then subtracts equity: expected value minus remaining payoff.
What mileage and resale estimates can miss
Use the same months, vehicle, mileage and tax treatment. Maintenance, insurance and excess wear should be added when they differ.
This calculator supports The Real Cost of Auto Financing. Lease vs. Buy a Car: Compare the Same Months and Miles explains which details can change the inputs. The calculation methodology shows how we handle timing, rounding and exclusions.
Evidence standard for this calculation
Use a lease worksheet and purchase quote for the same vehicle, tax treatment and period. Inputs remain in the browser and outputs are rounded for display.
Read the complete methodology →Questions that make lease and purchase comparable
Which option consumes fewer dollars over identical months?
The tool compares lease cash outflow with purchase cash outflow minus remaining vehicle equity over the same number of months.
How does expected purchase equity change the result?
Higher resale value or a lower loan payoff creates more purchase equity, reducing the purchase path's net consumed cost.
Mileage, return and resale facts to collect
- Mileage, tax, wear and disposition charges
- Vehicle value and loan payoff on the comparison date
Explore the related cost systems
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Auto Loan Equity Calculator →
Follow loan payoff beside depreciation instead of guessing from the monthly payment.