: Exceeding mileage caps (often 10,000–15,000 miles/year) or having excessive "wear and tear" leads to hefty penalties.
: You have no equity when the lease expires unless you choose a buyout. compare lease vs buy calculator
: You only pay for the car's depreciation during the lease term, not its full value. : Exceeding mileage caps (often 10
: Repairs are usually covered by a manufacturer’s warranty for the duration of the lease. including taxes and fees.
Leasing is often preferred by those who want to drive a new model every few years without a long-term commitment. :
A reliable calculator compares the "net cost" of both options by analyzing various data points. For an accurate result, you typically need to input:
: The total on-road price, including taxes and fees.