Total Cost to Lease a New Vehicle versus Buying a Used Vehicle
People often times comparing leasing a new vehicle with purchasing a used vehicle make the mistake of only comparing the lease payment with their monthly loan payment.  In reality, there are several other factors that affect the total cost of ownership.  In most cases new vehicles will get better gas mileage than older ones.  With the high cost of gas, this difference can have a bigger effect than you think.  A newer vehicle will also have higher insurance costs and property taxes, but will have lower repair and maintenance costs.

The only way to really make a fair comparison is to run a comprehensive analysis.  Our calculator enables you to enter all of the applicable variables and allows you to make an informed decision.
Start entering your information and the calculator will automatically update each time you enter or change your data

  New Vehicle Used Vehicle
Vehicle Information  
Purchase Price (Including Sales Tax)    
Disposal Value     
Term (Months)    
Annual Interest Rate    
Monthly Payment (Lease/Loan)  
Annual Miles Driven    
Miles Per Gallon  
Price of Gas    
Average Annual Insurance  
Average Annual Taxes & Fees  
Average Annual Maintenance  
Average Annual Repairs  

Total Lease Payments  
Total Depreciation  
Total Interest Expense  
Total Fuel Costs
Total Insurance
Total Taxes & Fees
Total Maintenance Costs
Total Repairs
Total Cost of Ownership
Annual Cost of Ownership
Monthly Cost of Ownership
Monthly Difference