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Lease vs. Buy a Car
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Template in “view only” mode. Press “File” and “Make a Copy” to make it your own.
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Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Year Total
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01234567891011121314151617181920Cost
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Lease a Car
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Up Front Payment (if applicable)$0
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Lease Payment$3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $3,588 $75,348
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Mileage Penalty (if applicable)$0 $0
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Wear-and-Tear Charges / Cost to Fix Before Return$0
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Total Leasing Cost$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$3,588$75,348
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Buy a Car
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Down Payment$10,000 $10,000
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Monthly Loan Payment$6,000 $6,000 $6,000 $6,000 $6,000 $6,000 $36,000
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Maintenance (Estimate)$5,000 $5,000 $10,000
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Resale Value (note: include this amount as negative)($2,000)
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Total Buying Cost$16,000$6,000$6,000$6,000$6,000$11,000$0$0$0$0$3,000$0$0$0$0$0$0$0$0$0$0$56,000
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Note: Assumes gas, parking and car insurance will be the same for both scenarios so I left them out. Don't forget to include them in your budget.
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You can adjust this to look at whatever time period you are considering
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© THE FISCAL FEMME
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