Should I lease or purchase an auto?

Leasing has become a very popular method of acquiring a new auto. Although the payments may seem attractive, it may not always be the best financial decision versus purchasing the vehicle outright and financing it with a low interest loan. Use the following calculator to help analyze the financial impact of lease versus buy.
Common Assumptions
Down payment (capital reduction) ($) 
Number of months 
Rebate amount ($) 
Lease Information
Monthly payment amount ($) 
Security deposit/leasing fee ($) 
Purchase Information
Purchase price ($) 
Sales tax rate (%) 
Other upfront costs ($) 
Annual percentage rate on loan (%) 
Market value of vehicle at end of loan ($) 
Your Email Address
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This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. Marquis, Inc., First Tennessee Bank National Association (operating as First Tennessee Bank and Capital Bank) (“FTB”), and its affiliated companies do not assume any fiduciary duties and do not provide any investment advice in providing calculations. Calculations provided may differ from calculations made by other commercial or financial institutions or entities. In addition, such service should not be relied upon as the only source of information. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results. Use of service is provided without warranty of any kind, either express, implied or statutory, including FITNESS FOR A PARTICULAR PURPOSE, MERCHANTABILITY, AND ACCURACY. Use of service is entirely at the user’s own risk, and user should seek professional financial and legal advice without reliance on service and calculations. Marquis, Inc., First Tennessee Bank National Association (operating as First Tennessee Bank and Capital Bank) (“FTB”), and its affiliated companies shall not be liable for any differences is calculations with other financial institutions or entities, lost profits, lost business, losses of any kind, direct or indirect damages, punitive or consequential damages or damages of any kind arising out of the use of this service. User agrees to indemnify and hold Marquis, Inc., First Tennessee Bank National Association (operating as First Tennessee Bank and Capital Bank) (“FTB”), and its affiliated companies harmless from any and all liabilities and costs (including attorney fees) for any improper use or violation of these terms.

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