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Calculate whether to buy or lease a car

Enter the details of the purchase and lease options and see which one looks best.

When buying a car there are many decisions to make – color, safety options, rebate, lease or buy. We can help you with one decision; use our lease vs buy calculator to determine whether you’d prefer to lease or buy your next vehicle.

Buy vs. lease

Buying - What are the details of the car you would like to buy?

All fields are required. If something doesn't apply, place a 0 in the field.

Leasing - What are the details of the car you would like to lease?

Results

Buying

Downpayment
$1000
Monthly payments for first 36 months*
$10636.189210531728
Trade in on purchase
$5000
Balance of loan after 36 months
$3502.5623255996128576099925849
Total cost after 36 months
$20138.751536131340857609992585
Value of car at end of 36 months**
($13372.613696711132386599661392)
Net cost to purchase after 36 months
$6766.137839420208471010331193
The average net cost to purchase a car in 36 months would be $187.94827331722801308362031092 per month.
Net cost to purchase after 48 months
$8087
The average net cost to purchase a car in 48 months would be $168.47110774543914080758219685 per month.

Leasing

Downpayment
$3000
Sales tax
$232.500000
Monthly payments for 36 months
$7200.00
Total cost to lease after 36 months
$10432.500000
The average net cost to purchase a car for 36 months would be $289.79166666666666666666666667 per month.
*Sales tax of $1550.000000 is included in the financing.
**The first year's depreciation is 20% on the new car and 10% on the used car.
Subsequent years were figured at 10% for both new and used.

Neither State Farm® nor its agents provide tax or legal advice. This calculator is for illustrative and educational purposes only. Its accuracy and applicability to your circumstances is not guaranteed. Please consult your own adviser regarding your particular circumstances.




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