Lease vs buy
Check the statements that fit your situation, then review a quick read on whether leasing or buying tends to match better. If you have already used our worksheets in this browser, we pull in those numbers for a side-by-side nudge (still illustrative — not tax or legal advice).
Your saved worksheets
Last lease and buy runs are stored only on your device (localStorage). Update them by opening the calculators and changing inputs.
Leasing: pros & cons
Often a plus
- Lower monthly payment than a purchase loan for the same car (you pay for depreciation, not full price).
- New vehicle every few years with factory warranty coverage most of the term.
- Less long-term repair risk while you stay within mileage and wear rules.
- Sales tax can be structured differently (varies by state); sometimes easier cash flow at signing.
Watch-outs
- Mileage overage and excess wear charges at turn-in.
- No ownership equity; disposition or purchase-option fees at the end.
- Harder to exit early without paying remaining obligations.
- Customization is limited; you must return the car in acceptable condition.
Buying: pros & cons
Often a plus
- You own the asset and can sell or trade whenever it makes sense.
- No mileage cap; drive as much as you want (fuel and maintenance still apply).
- Modify or keep the car as long as you like.
- Loan payoff builds equity over time (market value permitting).
Watch-outs
- Higher monthly payment for the same sticker vs a typical lease.
- Repairs after warranty are yours.
- Depreciation risk if you sell in a soft market.
- Longer loans mean more total interest — compare APR and term carefully.
What applies to you?
Checking a box adds informal points toward lease or buy. It is not a credit decision — just a structured way to think about fit.