The decision to lease or purchase a car can be a difficult one. However, it can also be a very important decision as it can be the difference between saving or losing a great deal of money. Using the Lease vs Buy Car Calculator from MyExcelTemplates.com can make this decision a much easier one and will quickly show you how much is to be gained or lost by buying or leasing.
The Lease vs Buy Car Calculator is an easy to use tool that will quickly indicate whether it’s more advantageous to lease a car as opposed to buying one. This car lease vs buy calculator is an excel template that can be easily downloaded and modified to suit your specific needs. First, download the car lease vs buy calculator to your desktop and open the spreadsheet. As a reference, input the make and model of the car you’re considering.
How to Use the Lease vs Buy Car Calculator for Your Financing
Next, input the car’s Retail Price, tax and title fees, security deposit, first month’s payment and capital cost reduction payment into the indicated white cells in the “Lease” section. Indicate whether the last month’s payment will be made in advance by inputting a “Y” or “N” then input end of leas selling price, monthly payment, term of the lease (in months) and any present value discount %. Finally, in the “Buy” section, input the expected down payment if buying the car and the expected interest rate.
Notice, the gray cells will calculate automatically based upon your inputs. The Difference value will tell you how much more (or less) would be paid buying this car vs. renting it. For more helpful information, you can input tax information and title and fees into the Taxation sections to calculate estimated deductions or tax savings.
Tips for using the Lease vs Buy Car Calculator
- Try varying the values to test out multiple scenarios
- As you input data, use the calculated gray fields to track the impact to costs and savings
- The leasing vs buying a car calculator is an editable document so feel free to add additional calculations to account for unique factors
- If you set on buying a car, use the Buy section to estimate monthly payments and the optimal down payment
If you’re set on buying a car, use the “Buy” section to estimate monthly payments and the optimal down payment.
Download the Lease vs Buy Car Calculator from Microsoft Office: Lease vs Buy Car Calculator