Truck Lease vs Buy Calculator
Compare the full cost of leasing versus buying a truck over the lease term: loan payments, payoff, resale value, maintenance and lease fees side by side.
Leasing a truck keeps cash in the bank and often bundles maintenance, while buying builds equity you get back when you sell. This calculator compares the two over the same period — the length of the lease — by adding up every payment and running cost on each side and crediting the truck's resale value to the purchase.
How to use this tool
- Enter the purchase price, your down payment, and the loan rate and term.
- Estimate what the truck will sell for at the end of the lease period.
- Enter the monthly lease payment, upfront lease fees and the lease term.
- Add monthly maintenance for each option — lower for a full-service lease — and any expected turn-in or excess-mileage charges.
Formula
Net cost of buying = Down payment + Loan payments in the period + Loan payoff − Resale value + Maintenance
Net cost of leasing = Upfront fees + Lease payments + Maintenance + Turn-in charges
The down payment, payments and payoff together equal the price plus the interest paid during the period, so buying really costs price + interest − resale + maintenance. Loan payments use the standard amortization formula; if the loan is shorter than the lease, payments stop once it is paid off. Interest is a nominal annual rate with monthly compounding. The comparison term is limited to 1,200 months.
Example
A $160,000 truck with $32,000 down leaves a $128,000 loan at 8.5% for 60 months: $2,626.12 a month. Over a 48-month lease term you make $126,054 of payments, still owe $30,109 and pay $43,200 for maintenance; selling for $85,000 makes the net cost of buying $146,363. Leasing at $3,100 a month with $3,000 in fees and $300 a month of maintenance costs $166,200, so buying saves about $19,837 here.
Frequently asked questions
Does this include tax benefits?
No. Include transaction taxes in the quoted purchase price and lease charges yourself. Income-tax deductions, depreciation, business-use restrictions and the time value of money are excluded.
What resale value should I use?
Look at recent sale prices for the same make, model and year with the mileage you expect at the end of the period. Resale is often the biggest swing factor, so try a low and a high figure.
Does this work for a lease-purchase?
No. This version assumes the leased truck is returned with no retained resale value. A lease-purchase needs a separate cash-flow comparison including the buyout and the value of the retained vehicle.
Last updated: 2026-10-30