Lease

Definition

A contract where you pay to use a vehicle for a set period and mileage limit, then return it.

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Lease vs Buy

Leasing typically offers lower monthly payments than buying, but you do not build equity in the vehicle.

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Lease vs Buy

Decide whether leasing or buying is the better financial option for your situation.

Buy vs Lease Calculator

Compare total car ownership cost for buying versus leasing based on mileage and timeline.

Ownership Break-Even

Calculate the break-even point between owning, leasing, and using rideshare services.

Related Automotive Terms

Expand your understanding with related concepts

ABS (Anti-lock Braking System)

A safety system that prevents wheels from locking up during braking, allowing the driver to maintain steering control.

AWD (All-Wheel Drive)

A drivetrain that employs a front, rear and center differential to provide power to all four wheels of a vehicle.

Chassis

The load-bearing framework of an artificial object, which structurally supports the object in its construction and function.

Depreciation (Automotive)

The decline in a car's value over time.

Engine Displacement

The total volume of air/fuel mixture an engine can draw in during one complete engine cycle.

View all Automotive terms

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