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Calculate and compare the estimated costs of buying vs. leasing your next vehicle. Please remember that manufactures may offer special promotion incentives on certain models. Also financing and leasing companies may offer different interest rates and/or residual values for a specific model. They also may use slightly different formulas to calculate the payments.

THE VEHICLE
Purchase price Enter what you will pay for your vehicle including PDI, delivery and options. Don't include PST or GST.
Net trade-in Enter what you estimate that your trade-in is worth.
Miscellaneous taxes Gas/Air conditioner tax etc. (Don't include PST or GST.)
Provincial sales tax rate (%) GST is added automatically.
LEASE ESTIMATE (optional)
Down payment Note that sales taxes are removed from your down payment prior to it being applied to the vehicle cost.
Lease rate (%)
Term (months)
Residual or Buy-Back value
LOAN ESTIMATE (optional)
Down payment
Annual interest rate (%)
Term (months)

CALCULATOR
RESULTS LEASE LOAN

Monthly payment (with tax)

Total up front costs

Gross cost of vehicle

Estimated residual value of vehicle at end of term 1

Net cost of vehicle²

LOAN VS. LEASE COMPARISON

¹ Based on an average from a number of leasing company's residual values for different vehicles over leases of 2 to 4 years in length. Formula used: new car price x (0.0082 x # of years²- 0.1696 x # of years + 0.9811)

² This is the cost of financing the vehicle over the term less the equity that the vehicle provides you at the end. In the case of a lease, the equity is 0 because you give the car back to the dealer. In the case of a loan, you could theoretically sell the vehicle and reduce the amount that you are out of pocket.

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