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1st Metropolitan's- Buy or Lease? Calculator

Should you lease or buy your car? Use this calculator to find out! First choose a term for the lease or loan period. Next fill in the specifics for leasing or buying your auto of choice. We can then calculate your average cost of ownership per month for both. By comparing these amounts, you can determine which is the better value for you.

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Definitions

Term in months	Term in months for your auto lease or your auto loan
Monthly payment	Monthly lease payment
Other fees for lease	Any fee, other than a capital reduction, required to be paid at the lease signing
Capital reduction	Amount paid as a downpayment, which for leases is often called a capital reduction
Price	Total purchase price for this auto. Price should be after any manufacturer's rebate
Interest rate	Annual interest rate for your loan
Down payment	Total downpayment for this loan
Other fees for purchase	Any other fees that are required to be paid at the time of closing included title transfer fees
Sales tax rate	Percentage sales tax to be charged on this purchase
Rate of depreciation	The rate of deprecation gauges how fast your new automobile will lose its market value. A high depreciation rate is about 20% per year, medium is 15% per year and low is 10% per year
Market value at end of loan	Value of your auto at the time your loan is paid in full
Lost interest on downpayment	This is the amount of interest you could have earned if you had invested your downpayment instead of using it for your auto purchase
Net cost of purchase	This is the total of all payments made, your down payment and the investment interest lost on your downpayment minus the market value of your auto at the end of the loan
Investment rate of return	Rate of return on investments. This is the return that you would make if you were to invest your downpayment or security deposit instead of using it in your auto purchase or lease

information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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