Is it cheaper to lease or buy this car?
Enter the deal from the dealer: the price, the lease terms and the finance terms. Both are compared over the lease term, counting what the car you buy is still worth at the end.
Your estimate
What the calculator assumes.
Same car, same term. Lease payments are made at the start of each month and are set so the car drops to its residual value over the term. The lease cost is the down payment, the payments and the fees, all with sales tax, plus extra kilometre charges. The buy cost is the down payment and the loan payments made during the lease term, less what the car is worth then after paying off the loan.
Not included. Insurance, repairs after the warranty ends, wear-and-tear charges at lease return, and interest you could earn on money not spent. If you drive the car for business, the CRA limits how much lease cost or interest you can deduct; see the vehicle business use calculator. Check a car loan on its own with the car loan calculator.