#car loan payment
Calculate Your Monthly Payments With Nationwide’s Auto Loan vs. Car Lease Calculator
Should you buy or lease a car?
You’re in need of a new car, but does buying or leasing make the most financial sense? Many go into the purchase thinking they don’t have the finances to cover the cost of a new car. In these cases, leasing may sound like the perfect fit. Leasing may also be a good option for those who are looking to drive the latest car models, but don’t want to own their car. However, taking out an auto loan to buy a new or used car can help you save a lot of money in the long run compared to leasing a car.
Keep in mind that although monthly payments and interest rates will likely be higher when you purchase a new car, you have the ability to sell, donate or gift your vehicle in the future because you own it. Leasing, on the other hand, can mean lower monthly payments and interest rates. However, you won’t be investing your money on an owned vehicle.
To help you determine whether you should buy or lease your next car, we’ve created this simple auto lease calculator. Get the net cost of buying vs. leasing by simply entering the fields below.
Calculators are provided to help you determine how a loan, line of credit or a deposit product may affect your budget. The results offered are estimates and do not guarantee available loan terms, cost savings, tax benefits, etc. Nationwide Bank does not offer a guarantee of the calculator results.