Lease vs. Buy Calculator

Compare the total cost of financing versus leasing any vehicle, with room for state sales tax, EV tax credits, and manufacturer incentives.

Last updated: August 11, 2026

The federal new and used Clean Vehicle Credits ended for vehicles acquired after September 30, 2025. State incentive amounts and sales tax rates below are approximate starting points, not confirmed figures, and vehicle sales tax rules sometimes differ from the general state sales tax rate. Override any field with your actual numbers. The Excel download includes live formulas, so you can keep adjusting numbers offline and see the totals recalculate.

This tool provides estimates for general planning purposes only. It is not tax, legal, or financial advice, and results may not reflect your full situation. Consult a CPA or licensed tax advisor before filing a return or finalizing any purchase, lease, or financial decision. Talk to us.

Vehicle & State

Vehicle typeMake & modelState of purchase / registrationTable rate 7.81% · default EV incentive $3,500. Verify current amount and eligibility; programs change frequently and are often income-qualified.Sales tax rate overrideLeave blank to use the state table rate above. Confirm your county's actual motor-vehicle tax rate.

Price & Upfront Fees

Negotiated purchase price ($)Trade-in value ($)State allows trade-in sales-tax credit?Most states tax only price minus trade-in; a few tax the full price.Down payment / cap cost reduction ($)Applied to both scenarios below, for a fair comparison.Dealer / documentation fees ($)Title & registration fees (one-time) ($)

Incentives & Credits

Federal EV tax credit ($)New/used Clean Vehicle Credits ended for vehicles acquired after 9/30/2025. Leave at 0 unless you confirm eligibility.State EV incentive overrideLeave blank to use the state table default. Verify current program status.Manufacturer rebate / incentive ($)Utility company rebate ($)Home charger credit (30C, buy only) ($)30% federal credit on a home EV charger install, up to $1,000, expires 6/30/2026.

Financing (Buy)

Loan APR (%)Loan term (months)Comparison period (months)How long you'd actually keep the car or the lease. Often matches the lease term.Est. resale / trade value at end of period ($)Marginal federal tax rate (%)Auto loan interest deduction eligible?New, US-assembled vehicle with a qualifying loan, 2025-2028 per OBBBA. Up to $10,000/yr, income limits apply. Confirm before assuming eligibility.

Lease Terms

Lease term (months)Residual value (% of price)Money factorLeave blank to derive it from the equivalent APR below instead.Equivalent APR (%)Used only if money factor above is blank (money factor = APR / 2400).Acquisition fee ($)Disposition fee (due at lease end) ($)Annual mileage allowance (mi/yr)Est. annual miles driven (mi/yr)Cost per excess mile ($)State taxes lease payments monthly?Most states tax each monthly payment. A few tax the full cap cost upfront instead.

Ongoing Costs

Annual insurance, buy ($/yr)Annual insurance, lease ($/yr)Annual maintenance, buy ($/yr)Annual maintenance, lease ($/yr)Annual registration / renewal fee ($/yr)

Results over 36 months

	Buy	Lease
Upfront costs	$0	$0
Payments over period	$0	$0
Insurance	$0	$0
Maintenance	$0	$0
Registration	$0	$0
Fees / excess mileage / disposition	—	$0
Credits & tax savings applied	-$0	—
Less: ending equity (resale minus loan balance)	-$0	—
Total net cost	$0	$0
Monthly equivalent	$0.00	$0.00

Buy detail

Sales tax on purchase: $0 (7.81%)
Amount financed: $0
Monthly loan payment: $0.00
Remaining loan balance at end of period: $0
Est. year-1 interest paid: $0
Interest deduction tax savings: $0

Lease detail

Money factor used: 0.00167
Adjusted cap cost: $0
Residual value: $0
Base monthly payment: $0.00
Monthly sales tax: $0.00
Total monthly payment: $0.00

State incentive used: $3,500. Figures are estimates for planning discussion, not a financing offer.

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