: You can drive unlimited miles and customize the car as you wish.
: Loan payments (EMIs) are typically higher than lease payments.
The tool then calculates the —the exact time when the cumulative cost of buying becomes cheaper than the recurring costs of leasing. Buying: The Path to Long-Term Equity compare lease vs buy calculator
Buying is generally the more economical choice if you plan to keep the vehicle for more than five to seven years. :
: Repairs are usually covered by a manufacturer’s warranty for the duration of the lease. : You can drive unlimited miles and customize
: For buying, you must estimate the car's resale value at the end of the term. For leasing, this is often the predetermined buyout price.
: You only pay for the car's depreciation during the lease term, not its full value. Buying: The Path to Long-Term Equity Buying is
: Annual mileage, estimated maintenance costs, and insurance premiums.