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I want to buy a car

Explore common ways people compare auto financing, leasing, cash purchases, and ownership costs.

Common options

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Auto loanLearn how it works
LeaseLearn how it works
Cash purchaseLearn how it works
Trade-inLearn how it works

These are common approaches people consider. Each has different requirements and tradeoffs.

Factors to compare

Total cost

Vehicle price, fees, taxes, financing, insurance, and maintenance.

Monthly payment

Payment amount, term length, and how much is financed.

Vehicle use

Mileage, commute, family needs, and ownership horizon.

Financing terms

APR, term, down payment, and add-ons.

Trade-in

Vehicle value, loan payoff, and equity position.

Flexibility

Ownership, lease restrictions, and resale options.

Educational notes

Details can vary by provider, location, eligibility, fees, taxes, and personal circumstances. Use calculators to explore different inputs and see how results change.

Common questions

Is leasing or financing usually cheaper?

Lease payments are often lower month to month because you're only paying for expected depreciation over the term, not the full vehicle price. A loan builds equity in a vehicle you keep, while a lease typically means starting a new payment again at the end of the term.

How does a trade-in affect my next purchase?

A trade-in's value is applied against the new vehicle price or lease, which can reduce the amount financed. If you still owe more than the trade-in is worth, that negative equity may be added to the new loan, which is worth comparing carefully.

What should I check before financing a used car?

Compare the APR, loan term, and total interest across lenders, and get the vehicle's condition and history checked separately. Rates and available terms can vary more for used vehicles than new ones.

Keep exploring

All calculators

Browse the full calculator library.

Options Explorer

See every money situation we cover.

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