Car Lease vs Buy Calculator
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Expected value at end
A car lease vs buy calculator compares the total financial cost of leasing a new vehicle against purchasing it outright or with finance. It helps drivers make an objective decision based on monthly cost, total cost, and usage patterns.
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Tip: Always calculate the "cost per mile" for leasing. If your mileage exceeds the lease allowance, excess charges (often 10–30p/mile) can make leasing very expensive.
- 1Lease cost: monthly payments × lease term + initial payment + excess mileage charges + no asset at end
- 2Buy cost: purchase price + finance interest − resale value at equivalent period
- 3Compare total out-of-pocket cost, not just monthly payment
£400/month lease 3yr vs £15k finance at 6% APR, £8k residual=Lease: £14,400 · Buy: £12,800 netBuying wins if residual is good
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Fun Fact
Leasing is most cost-effective for vehicles that depreciate slowly (e.g., EVs with strong residuals) and for business users who can reclaim VAT on lease payments.
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