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Lease vs Buy Calculator

Compare the true total cost of leasing versus buying a vehicle or equipment. Includes mileage overage fees, residual value, and interest costs.

Compare the true total cost of leasing vs. buying over the full term. Works for vehicles, equipment, or any asset.

Asset / vehicle price ($)

Lease Option

Monthly lease payment ($)

Lease down payment ($)

Lease term (years)

Annual mileage (miles)

Mileage limit/yr (miles)

Overage cost ($/mile)

Buy / Finance Option

Down payment ($)

Loan interest rate (%)

Loan term (years)

Estimated resale value ($)

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Frequently Asked Questions

Is it better to lease or buy a car?

Leasing typically has lower monthly payments and lets you drive a new car every few years, but you build no equity. Buying costs more monthly but you own the asset and have no mileage restrictions.

What is the residual value in a lease?

The residual value is the car's estimated worth at the end of the lease — set by the lessor. A higher residual value means lower monthly lease payments.

What are mileage overage fees?

Most leases cap annual mileage (typically 10,000–15,000 miles). Driving more than the limit triggers overage fees, typically $0.15–$0.30 per mile, which can add thousands to total lease cost.