Should I lease or purchase a vehicle?

Purchase
Purchase price
$
Sales tax rate
%
Vehicle age (years)
Cash rebate
$
Down payment
$
Other upfront costs
$
Loan term (months)
Interest rate
%

Lease
Lease term (months)
Monthly payment
$
Security deposit
$
Cash paid
$
Cash rebate
$

Future depreciation
Tax rates: The percentage of your taxable income that is owed to the state and federal governments. The tax rate increases as the taxable base amount increases.
Term: The period of a loan, generally measured in years. Auto loans generally range from 2 to 5 years. Mortgage loans: 15 to 30 years.
Depreciation: The decline in an asset's value over the course of its useful life due to wear and tear and obsolescence.
Down payment: The cash you deposit towards the purchase of home, car, etc. The larger the down payment, the less you are required to borrow.
Cash rebate: An offer to consumers - as an incentive to buy - that reduces the purchase price of a good by the amount of the rebate.
Savings interest rate: The yearly interest rate you earn on your savings.
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The information provided by these calculators is for illustrative purposes only. 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. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.