How should I compare a lease and a loan?
Keep vehicle price, upfront contribution and comparison period consistent. Enter actual dealer terms for lease money factor, residual and mileage allowance. For financing, enter the quoted APR and term. Default values illustrate the calculation; they are not current Lexus offers.
Compare cash paid over the same period, then consider what remains: a loan may leave a vehicle and loan balance, while a lease may have mileage, wear, disposition or purchase-option charges. Monthly payment alone cannot determine which is better.
Estimate only. Not a credit application, approval or binding quote. Confirm all inputs with the dealer or lender. Do not enter account numbers, a Social Security number or documents here.