Monday, May 12, 2008, 2:58AM ET - U.S. Markets open in 6 hours and 32 minutes.

Loans

Should I Lease or Purchase An Auto?

Good (128 Ratings)

2.195314/5

Leasing is one method of acquiring a new auto. Although the payments may seem attractive, it may not always be the best financial decision versus purchasing the vehicle outright and financing it with a low interest loan. Use the following calculator to help analyze the financial impact of lease versus buy.

Common Assumptions	Input
Down payment (capital reduction)	$
Number of months	(1-360)
Rebate amount	$

Lease Information	Input
Monthly payment amount	$
Security deposit/leasing fee	$

Purchase Information	Input
Purchase price	$
Sales tax rate: (%)	(0-50)%
Other upfront costs	$
Annual percentage rate on loan: (%)	(0-30)%
Market value of vehicle at end of loan	$

See All Calculators

Cost of Leasing
Total payments
+ Down payment (capital reduction)
- Rebate
= Total cost of lease
Average yearly cost of lease

Cost of Purchasing
Purchase price
+ Sales tax
+ Other upfront costs
+ Interest
- Rebate
- Market value at end of loan term
= Total cost of purchasing
Average yearly cost of purchasing

See All Calculators

{ "WS" : "ads1.finance.vip.mud.yahoo.com/CalcService", "fields" : { "udata" : [ "down_payment" , "rebate" , "purchase_price" , "purchase_costs" , "rebate" , "residual_value" ], "rdata" : { "results_paragraph" : "results_paragraph" , "total_leasepayments" : "simple" , "total_lease" : "simple" , "yearly_lease" : "simple" , "sales_tax_o" : "simple" , "interest_paid" : "simple" , "total_purchase" : "simple" , "yearly_purchase" : "simple" , "chart" : "chart" } } }

Powered By

This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

Rate This calculator

Good (128 Ratings)

2/5

Sign-in to rate!

Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	5.69%	5.77%
  15 Year Fixed	5.28%	5.35%
  1 Year ARM	5.85%	5.90%
  30 Year Fixed Jumbo	6.97%	7.07%
  5/1 ARM	5.09%	5.39%
  3/1 ARM	5.02%	5.35%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	7.42%	7.41%
  $50K Home Equity Loan	7.26%	7.26%
  $75K Home Equity Loan	7.50%	7.50%
  $30K HELOC	5.02%	5.06%
  $50K HELOC	4.17%	4.18%
  $75K HELOC	4.16%	4.17%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	2.76%	2.75%
  1 year CD	3.03%	3.01%
  3 year CD	3.18%	3.15%
  MMA	2.35%	2.37%
  $10K MMA	2.54%	2.56%
  $25K MMA	2.93%	2.93%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.66%	6.64%
  48 Month New Car Loan	6.58%	6.77%
  60 Month New Car Loan	6.57%	6.54%
  72 Month New Car Loan	7.10%	7.11%
  36 Month Used Car Loan	7.17%	7.20%
  48 Month Used Car Loan	6.89%	7.11%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Balance Transfer	10.31%	10.03%
  Low Interest	11.01%	10.97%
  For Bad Credit	13.02%	13.12%
  Cash Back	11.47%	11.46%
  Business	11.10%	10.91%
  Airline	12.75%	12.69%

  Source: CreditCards.com

View rates in your area

Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Hemscott Americas. Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.

Yahoo! Answers is provided for informational purposes only, and no Q&A is intended for trading or investing purposes. Yahoo! shall not be responsible or liable for the accuracy, usefulness or availability of any Q&A information, and shall not be responsible or liable for any trading or investment decisions based on such information. View Complete Answers Disclaimer.