Car Lease vs. Buy Calculator

Here’s a simple step-by-step guide on how to use the Car Lease vs. Buy Calculator you received:

1. Open the Calculator

• Copy the HTML code provided.
• Save it as a file on your computer, for example:
  car-lease-vs-buy.html
• Open the file in your web browser (Chrome, Edge, Safari, etc.).
  The calculator will appear as a clean web page.

2. Enter Car Purchase Details

• Vehicle Price ($): The total price of the car before taxes or fees.
• Down Payment ($): The amount you plan to pay upfront.
• Sales Tax Rate (%): Your local tax rate for car purchases.

3. Enter Loan Details (Buying Option)

• Loan APR (%): The interest rate for your car loan.
• Loan Term (months): How many months you’ll take to pay off the car (e.g., 60 months = 5 years).

4. Enter Lease Details (Leasing Option)

• Lease Money Factor: Usually provided by the dealer (0.0025 ≈ 6% APR).
• Lease Term (months): Length of the lease (e.g., 36 months = 3 years).
• Residual Value (%): The car’s value at the end of the lease as a percentage of its original price (e.g., 55%).
• Lease Fees ($): Acquisition, administrative, or end-of-lease fees.

5. Click “Compare Lease vs Buy”

• The calculator instantly shows:
  • Buying Monthly Payment & Total Cost
  • Leasing Monthly Payment & Total Cost
  • A recommendation on which option is cheaper based on your data.

6. Analyze the Results

• If leasing is cheaper, it’s better for short-term ownership with lower payments.
• If buying is cheaper, you save more in the long run by owning the car.
• Adjust the inputs (price, interest, residual value) to see how results change.