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Lease vs Buy Car Calculator

Calculate your monthly payment and compare monthly payment estimate between a loan and lease deal.

Compare Loan and Lease Payments


Zip Code
(for rates and pricing in Ashburn, VA)

Vehicle Details

Look up the vehicle you’d like to buy or enter the price below
Vehicle Sales PriceThe selling price of the new or used vehicle for monthly loan payment calculation.
(with typical options)
Sales tax rateEstimated sales tax rate for the selected zip code applied to the sales price.
(by state)
Sale tax amount:
Title and registrationAdd title and registration here to include them in your estimated monthly payment.
Cash IncentivesAvailable incentives and rebates included in the monthly payment estimate.

Trade-In and Down Payment

Enter the details of your Trade-in to receive the most accurate calculation.
Value of Your Trade-inThe value of your currently owned vehicle credited towards the purchase or lease of the vehicle you are acquiring. If you select a vehicle using the "Value your trade-in" button, the value displayed in the calculator will be the True Market Value trade-in price for a typically-equipped vehicle, assuming accumulated mileage of 15,000 miles per year.
Amount Owed on Your Trade-inThe remaining balance on a loan for your trade-in will be deducted from the trade-in value.
Cash Down PaymentThe cash down payment will reduce the financed loan amount.
Cap Cost ReductionThe cap cost reduction is cash paid up front to reduce the monthly lease payment.

Financing Details

Interest rateGenerally available financing interest rate for the estimated loan payment.
Lease money factorIn leasing, the money factor is essentially the interest rate you'll pay during your lease. It's sometimes called a "lease factor" or even a "lease fee". We typically show the "buy rate", which is the rate set by the finance company. However, each dealer may include additional markup on this rate, resulting in a higher money factor than what is shown here. This rate may only apply to certain buyers. See dealer for details.

Lease Terms

Acquisition feeSometimes called a bank fee or administrative fee, this is a fee that leasing companies charge to arrange the lease.
Lease term
Security deposit

Loan Terms

Loan term

The calculator above is designed to illustrate the differences in monthly payments between a lease versus a traditional auto loan. In this "lease versus buy" scenario, you'll typically find that the payments will be lower for the leased vehicle. With a lease, the payments go toward offsetting the depreciation. While with a typical auto loan, you're making progress toward paying it off in full. There are pros and cons to each new-car buying approach, which we cover in the section below. But overall, this calculator is a useful tool in visualizing how different aspects of a car deal affect your monthly payment.