Tesla Model Y, $46k purchase vs $499/mo lease
With $5k down, 5.9% APR, a 72-month loan, 52% 5-year residual, and $1,600/yr operating cost, buying can win if resale holds.
EV lease vs buy calculator
Should you lease or buy your EV?
Compare a financed EV purchase against a lease over a 5-year horizon. Inputs: vehicle price, buy down payment, loan APR and term, 5-year residual value, lease payment, drive-off, and annual operating cost.
EV Lease vs Buy
EV lease vs buy 5-year comparison
RecommendationLease is cheaper
Difference$2,810.82
Buy 5-yr total$40,810.82
Lease 5-yr total$38,000.00
Monthly loan payment$743.51
Results are first-pass estimates. Verify with installers, manufacturers, and utility tariffs before purchase.
How it works
How it works
- Buy 5-yr cost = down payment + loan payments made in the first 60 months + five years of operating cost - estimated resale value.
- Loan payment uses the standard amortization formula from vehicle price minus buy down payment, APR, and term.
- Lease 5-yr cost = lease drive-off + 60 monthly lease payments + five years of operating cost. The lower total is recommended.
Worked examples
Worked examples
Budget commuter EV with a subsidized lease
$299/mo lease and low drive-off can beat a loan when depreciation risk is high or you plan to switch cars within 3-5 years.
High-mileage driver
Buying often improves because mileage penalties and wear charges can make leases expensive once annual driving exceeds the allowance.
EV lease vs buy FAQ
EV lease vs buy FAQ
What does the difference result mean?
Positive difference means the lease total is lower; negative means buying is lower. A near-zero result is shown as roughly equal.
Why subtract resale value for buying?
At the 5-year mark you still own the car. The calculator credits the estimated resale value so the comparison matches the lease horizon.
Should I include incentives or tax credits?
Fold them into vehicle price, down payment, or lease payment as they appear in your quote. The calculator compares cash flows, not eligibility rules.
What lease costs are not included?
Mileage overage, disposition fees, excess wear, registration differences, and insurance changes are not automatic; add expected amounts to annual operating cost or drive-off.
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