When does leasing make more sense?

Leasing can work for drivers who want lower monthly payments, prefer newer vehicles every few years, and stay within mileage limits.

Financing builds equity you can use toward your next vehicle. Leasing does not, but may offer lower upfront costs.

Lease vs Finance Calculator

Compare estimated total costs of leasing versus financing a vehicle.

Vehicle price

Down payment

Lease monthly payment

Lease term (months)

Finance APR (%)

Finance term (months)

Expected miles per year

Results

Estimated lease total cost: $19,200
Estimated finance total cost: $45,919
Estimated finance monthly payment: $715
Lease mileage allowance (approx.): 36,000 miles

Leasing costs less over the lease term but you will not own the vehicle. Best if you prefer driving newer cars and stay within mileage limits.

Estimates only. Lease terms vary by dealer, manufacturer, and credit profile. Finance totals do not account for resale value. Compare specific offers before deciding.

Common questions

When does leasing make more sense?: Leasing can work for drivers who want lower monthly payments, prefer newer vehicles every few years, and stay within mileage limits.
What about equity?: Financing builds equity you can use toward your next vehicle. Leasing does not, but may offer lower upfront costs.