Lease vs Buy an Electric Car
Leasing an EV at $450/month for 36 months versus buying at $550/month — leasing may pass along the $7,500 federal tax credit, making it more attractive for many buyers.
How to use this tool
- Enter the monthly lease payment and any upfront cash due at signing.
- Enter the equivalent loan payment and down payment if buying.
- Enter the expected resale value of the vehicle at the end of the term.
- A positive difference means leasing costs more; negative means buying costs more.
Electric vehicles come with unique tax incentives that affect the lease-vs-buy math — compare total costs over 36 months to find the better deal for you.
Frequently asked questions
- Is it cheaper to lease or buy a car?
- Buying is typically cheaper over the long run because you build equity and keep the vehicle's resale value. Leasing has lower monthly payments but you never own the car.
- What costs does the lease total include?
- This calculator adds all monthly payments plus upfront costs. It does not include insurance, maintenance, or disposition fees at lease end, which add to the true lease cost.