Lease vs Purchase Calculator
Calculate whether leasing or purchasing is better for your needs. Compare monthly payments, total costs, and long-term financial implications for vehicles, equipment, and more.
Step 1: Asset Details
Asset Information
The residual value is the estimated worth of the asset at the end of the lease term. This affects lease payments and purchase decisions.
Step 2: Financial Details
Financial Considerations
Leasing typically has lower monthly payments but no equity buildup. Purchasing builds equity but has higher monthly costs and maintenance responsibility.
Lease vs Purchase Analysis
Leasing Recommended
Lease vs Purchase Cost Comparison
Key Considerations
Leasing offers lower monthly payments and often includes maintenance, but you don’t own the asset. Purchasing costs more monthly but you build equity and own the asset after loan repayment.
Cost Breakdown Analysis
5-Year Total Cost Comparison
| Cost Component | Lease | Purchase |
|---|---|---|
| Monthly Payments | $17,604 | $31,560 |
| Down Payment | $2,000 | $5,000 |
| Maintenance | $1,200 | $3,000 |
| Residual/Equity Value | -$0 | -$15,000 |
| Total Cost | $20,804 | $24,560 |
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