Compare the total cost of leasing and buying the same vehicle over the same time period - including end-of-term equity.
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Lease payment: depreciation portion + finance charge. Depreciation = (vehicle price − residual) ÷ months. Finance charge ≈ (vehicle price + residual) × money factor (we approximate using APR÷2400).
Buy payment: standard auto loan amortization on the financed amount.
Net cost: total cash out (down payment + all monthly payments) minus end-of-term value (residual is owed; resale is yours).
The calculator doesn't include disposition fees ($300–$500 at lease end), excess mileage charges ($0.15–$0.25/mile over the cap), or wear-and-tear penalties. If you typically drive over the lease's mileage cap or treat cars hard, add a few thousand dollars to the lease total.
Run the calculator for one term, then assume the same lease cost repeats indefinitely. Buyers eventually own a paid-off car (years of zero loan payment); perpetual lessees never do.
Within roughly 10–15% for mainstream brands. Toyota and Honda hold value better than the calculator might assume; many luxury and EV models hold value worse.
Generally yes. EV residuals can be unusually high if subsidized by the federal tax credit pass-through - verify the lease offer's residual matches what's in the contract.