The Decision to Lease or Buy Your New Vehicle

When buying a new vehicle, you may be approached with the decision to lease or buy.

Each has pros and cons and will affect your monthly payment differently. Depending on how long you’re planning on driving the vehicle, a lease may not be the best option because you’ll have to return the vehicle at the end of the lease term. If you buy the vehicle, you’ll be the owner and can continue to drive after you have paid off your loan, sell it on your own, or even trade in for a newer model. Check out our calculator below to help you determine the better option for your financial goals.

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The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results.