Free tool
Lease vs buy truck calculator
Two quotes, one horizon. Enter the loan and the lease and see which costs less in cash over the months you plan to keep the truck, including what you would still owe and what you could sell it for.
Result
Runs in your browser. Nothing you type is sent anywhere. Example numbers are invented (EXAMPLE VALUES). This is a calculator, not financial, tax or legal advice.
Formula table
| Quantity | Formula | Note |
|---|---|---|
| Loan payment | P x r x (1+r)^n / ((1+r)^n - 1) | r = rate / 12, n = months. Worked in exact integers. |
| Each month | interest = balance x r, rounded to the cent | Principal = payment - interest. |
| Buy cost | down + payments + maintenance + balance owed - resale | At the horizon. |
| Lease cost | cash at start + payments x months + end charges | At the horizon. |
| Difference | buy cost - lease cost | Negative means buying costs less. |
Worked example (invented numbers)
A $90,000 truck with $10,000 down, a 9.5% loan over 60 months (payment $1,680.15) against a lease at $1,650 a month with $3,000 at start and $2,000 of end charges. Kept 36 months, with a resale value assumed at $55,000 and $150 a month of extra maintenance when owning: buying costs $57,478.37 net, leasing $64,400.00, so buying is $6,921.63 less. Change the resale and the answer changes sign: it is your assumption, not market data.
What this means for you
The answer depends most on two numbers you supply: the resale value and the horizon. Try a resale value $10,000 lower. If the answer flips, the lease is the safer bet for you. If it does not, buying wins even with a pessimistic sale.
This is a cash comparison. It does not model taxes, depreciation write-offs, insurance differences or interest rate changes.
Related tools
Questions
Does it include taxes?
No. Ask your accountant about depreciation and lease deductions, which can change the picture.
Where do resale values come from?
From you. Use comparable listings. We do not publish used truck prices.
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