Lease vs Buy Comparison
Leasing? Stay inside your mileage allowance
MileGuard tracks your lease miles automatically and shows exactly how much headroom is left.
How This Calculator Works
The lease cost is your monthly payment multiplied by the lease term, plus the down payment. At the end of a lease, you own nothing.
The buy cost is calculated using standard loan amortization: your monthly payment is computed from the principal (price minus down payment), interest rate, and loan term. Total buy cost equals all payments plus the down payment, minus the estimated resale value, because at the end of a purchase, you own an asset.
This calculator compares costs over the same lease term for a fair comparison. Keep in mind that leasing vs buying also involves factors beyond cost, such as mileage flexibility, customization, and long-term ownership goals.