The benefit of this calculator is that it allows you to enter various financial scenarios which provide you with a chance to see which scenario works best for you.  Some scenarios could be:  Do I put a larger down payment on a purchase to lower my monthly payments?  Do I simply go with a lease to keep the payments at a lower amount?  Does a longer term with lower payments for a different interest rate work better for me?

• Upside of leasing (tax benefits, drive trouble free, drive a higher end car than what you can afford to purchase)

• Disadvantages of leasing (no equity, constant leasing circle where you always have monthly payments)

• An alternative to long Loans (what are these and are they worthwhile?)

• Comparing Loans & Leasing

• Is it better to lease a electric vehicle (Great considerations to 'try' out an electric vehicle before purchasing one)

• Tips to negotiating

• How leases and loans differ (very informative table outlining each of the terms & definitions for each lease versus buy)

  
  

Each topic has a direct link to the answers without having to go through the entire article. In each topic, there are some useful tips and tricks to consider as a consumer.

The article uses a great example for a Honda Civic and what it means to have two different interest rates - Leasing at 1.99% for 60 months versus buying 0.99% for 5-year term. Both are actually 5 years; however, it shows how dealers will position the rates and payments to entice you.

The simple easy to follow scribe outlines answers for you quickly and effectively so that you can identify any key areas you need to do more research on. It starts by showing all the benefits of buying and leasing which quickly allows you to identify with which benefits you prefer (new every few years, different model (SUV, Sporty,) or getting a practical vehicle which will last you for many years. Definitely worth a quick view

The video details the financial calculations for each of the options. It further breaks down various scenarios ranging from no down payments, changing interest rates, and different periods.

At the end, you can see how much each option costs you at the end of each term and which works best for you. The interest rate calculations for each option allows you to see how much you are spending and what you could do with the money in investments.

The video starts by explaining the 35% rule, 10-20 rule, and the 24-10 rule. Each rule is explained in detail using applicable examples. The video then goes into a step by step tutorial on calculating each of these and how you can apply them to finding out your effective monthly payment for both lease or buy. At the end, you will be able to avoid being car poor and be a smarter consumer entering the dealership for your new car!

While this may not apply to everyone, there is some good information on the potential tax savings if you meet the criteria. This article outlines how you may fit in this category and what you can do to get the most for tax savings.

This 8 step process is easy to use and all you need is a budget (idea of how much you can afford or want to pay), your credit score, and your mobile phone. It further outlines key items such as insurance fees, maintenance fees, creating a budget, finding a good dealer, booking a test drive, and other key items to consider before you walk into the dealership.

It also provides some good ideas if you want to lease an EV first, test it out (so to speak) for a few years, and then perhaps buy it at the end of the lease. This allows you to adopt or change your driving patterns (for long trips, how does having a EV modify your plans? how does winter impact the EV and trips, how do you find a charging station, what are the costs and plan for charging along the highways).

There is also a link to a video provided by CTV news about leasing an electric vehicle pros and cons, what to check for, and considerations. At the bottom of the article there are also additional link for another article on should I buy a new car or lease a new car or wait until interest rates come down. Another great article to read if you are still wondering how lower interest rates can impact your decision.

He starts by asking are you a long term person or a short term person. This simple question helps outline which option may be better and how this can impact your equity. He continues to explain the pros and cons on owning a car for a long period of time and buying is better in this case versus leasing for very short periods.

Similar to the other calculator in this wall, you can also adjust interest rates (if the car company has special deals for certain models).

This additional calculator allows you to play around with other scenarios which you may be curious to see which works better for you. You can also see if you lease a vehicle for a short term (say 2 years) and then decide to buy it at the end of the lease, how much the monthly payments will be and if this is another consideration.

There are four distinct sections: Websites, Videos, Images, Reflective Question, and a bonus additional information section. Each section provides some great tips, tricks, and details on what to consider as you look at the options for buy versus lease.