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A car lease payment has two components: depreciation (how much the car loses in value during the lease) and finance charge (the cost of borrowing). Money factor times 2400 approximates the APR.
Review the inputs carefully and treat the output as an estimate. For decisions involving money, taxes, health, law, or security, compare the result with trusted professional guidance when needed.
Should I lease or buy a car?
Leasing has lower monthly payments and lets you drive a new car every few years, but you build no equity. Buying costs more monthly but you own the asset outright.
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