TaxConnections Member Lisa Nason of Nason Accounting located in Greenville, South Carolina shares a valuable calculator that helps you determine whether you should buy or lease a car. Use this calculator to find out! It calculates your monthly payments and your total net cost. By comparing these amounts, you can determine which is the better value for you.
Prior to using this handy Lease Or Buy Car Calculator, you may appreciate knowing the following definitions:
Purchase Price
Total purchase price. Price should be after any manufacturer’s rebate.
Down Payment
Amount paid as a down payment, which for leases is often called a capital reduction.
Sales Tax Rate
Percentage sales tax to be charged on this purchase. Sales tax is included in each lease payment. Sales tax for buying is charged on the total sale amount.
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