What's inside
- Real lease math: capitalized cost, residual, money factor, tax on each payment, acquisition fee, mileage overage and turn-in fee
- Real loan math: sales tax (with or without the trade-in credit), amount financed, payment, and a month-by-month schedule
- Net cost = cash paid out minus what you own at the end (the car's value minus any loan left), per month and per mile
- Break-even: the resale value at which buying and leasing cost the same
- Long view: keep the car for up to 10 years, including extra repairs, vs leasing again and again
- Sample file: a $42,500 SUV. Loan $687.51/mo vs lease $411.79/mo, yet buying costs $1,809 less over 36 months and $21,318 less over 8 years
Checked, not just designed: 779 formulas, zero errors, and every payment, schedule row, net cost and verdict was recomputed independently in 9 scenarios per file (0% APR, a loan still owed, under the mileage allowance and more). All matched to the cent.
Works in Excel and Google Sheets. A calculator, not financial advice.
Try the free version first
The free online calculator uses the same model for a quick answer. The spreadsheet adds tracking, history and the full views.