Auto Lease Vs Buy Today

For a personalized analysis, you can use the Auto Lease vs. Buy Calculator from Navy Federal Credit Union to input specific tax rates, cash rebates, and depreciation assumptions.

: You retain the "residual value" of the car. When you are ready for a new one, the trade-in value of your current car can serve as a substantial down payment. Comparison Summary Table Buying (Financing) Monthly Payments Typically lower; covers depreciation. Typically higher; covers full price + interest. Ownership None; car is returned to the dealer. Full ownership once the loan is cleared. Mileage Limited (e.g., 12k miles/year). Unlimited. Maintenance Often covered by warranty/service plans. Owner's responsibility after warranty expires. Long-term Cost Most expensive way to drive over 10+ years. Cheaper over time as payments eventually stop. 3. Making the Choice: Which is Right for You? Lease if you: Drive less than 12,000 miles per year. auto lease vs buy

Leasing is essentially a long-term rental, where you pay for the vehicle's depreciation over a set period (typically 24 to 48 months). For a personalized analysis, you can use the Auto Lease vs

Want to drive a new car every 2–3 years with the latest safety tech. When you are ready for a new one,