It is not an easy task to make a decision about whether to buy a car or lease it. Many people think that they are required to consider money in order to reach a conclusion. However, it is not true. Money is not the only factor that can help you come up with the decision about buying or leasing the car. The lifestyle of the person is another important thing to consider.
Whether you should buy a car or lease it depends on three factors:
- Goals of a person he wants to achieve
- The budget of the person
- Personal preferences
For some people buying a car is more beneficial while some people find leasing the car to be more feasible on the basis of their financial needs. There is a third type of people who don’t know which option will be best for them. Such people also don’t know what to consider and how to know which option will be more affordable for them.
The best way to make the decision is to compare both options side by side so that a result can be obtained. The buy vs lease car calculator is a tool that you can use to make a comparison between both available options
What is buy vs lease car calculator?
The buy vs lease car calculator is useful for people who are in the need to take a car but don’t know whether they should buy it or not. This calculator helps them by providing them an easy way to compare both options side by side. The pros and cons of each option will be clear after using this calculator.
How does buy vs lease car calculator work?
The buy vs lease car calculator works by breaking down all the costs which are associated with buying or leasing the car. There are ‘’loan’’ and ‘’lease’’ columns in the calculator in which the user is required to input the information.
This calculator has a number of empty fields that collect the information regarding the purchase price of the car the user wants to purchase, the sales tax on the purchase price, fee on buying the car, down payment in case of leasing the car, trade-in allowance value and other details. In case of leasing the car, the user is required to tell the duration for leasing the car.
Benefits of using the buy vs lease car calculator:
This calculator comes with a lot of benefits. Some of which are:
- The user can know by using this calculator that which method will be more cost-effective for him
- The buy vs lease calculator calculates everything accurately. There is no risk of not getting inaccurate results. In this way, the user gets a realistic picture of both available options. In other words, there is nothing misleading described by the calculator.
- The cost of buying and leasing the car becomes evident. The user gets the ease with which he can decide which option he should choose.
Format: MS Excel [.xls & .xlsx]