Buy or Lease?
Should you lease or buy your car? Use this calculator to find out! We calculate your monthly payments and your total net cost. By comparing these amounts, you can determine which is the better value for you.


   Loan term in months
Term in months for your auto loan.

   Down payment
Amount paid as a down payment, which for leases is often called a capital reduction.

   Other fees
Any fee, other than a capital reduction or down payment, required to be paid at the close of the lease or loan. This may include license, title transfer fees, etc.

   Purchase price
Total purchase price. Price should be after any manufacturer's rebate.

   GST + PST or HST (%)
Tax percentage rate charged on this purchase in your province. GST + PST or HST is included in each lease payment. GST + PST or HST for buying is charged on the total sale amount.

   Rate of depreciation
The rate of depreciation 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.

   Residual percent
For leases, this is remaining value after the lease term expires. The higher this amount, the lower your lease payment will be.

   Market value of vehicle
Value of your auto after the lease term is over.

   Investment rate of return
Rate of return on investments. This is the return that you would make if you were to invest your down payment or security deposit instead of using it in your auto purchase or lease.