Truck financing · Free planning calculator

Truck Loan vs Lease Calculator

Compare the full cash cost of financing and selling a truck with the cost of leasing and returning one at the same point in time. Include the truck's expected resale value, payoff balance, operating differences and cash due upfront—not just advertised monthly payments.

Editable example assumptions

Compare the offers

Same comparison period for both options

Comparison period (months)Assume the owned truck is sold and the leased truck returned after this period.

Finance and own

Purchase price ($)Truck price excluding separately modeled finance fees. Down payment ($)Cash paid toward the purchase; no more than purchase price. Nominal annual loan interest rate (%)Nominal annual rate with monthly compounding for this model. Loan term (months)May differ from the common comparison period. Unpaid balance is settled at sale. Loan and origination fees ($)One-time nonrefundable charges paid at inception. Ownership-only monthly costs ($)Expenses borne only as owner. Do not include costs common to both options. Expected resale value at end ($)Illustrative value before selling costs and loan payoff. Sale / disposition costs ($)Costs to sell the owned truck at the end of the period.

Lease and return

Monthly lease payment ($)Recurring rental payment, including fees billed in each monthly payment. Nonrefundable lease upfront costs ($)Fees or prepaid charges separate from monthly payments. Refundable security deposit ($)Assumed returned in full; affects opening cash, not net cost. Lease-only monthly costs ($)Costs payable only as lessee; common operating expenses excluded. Return / excess-use fees ($)Estimated nonrefundable costs due when returning the truck.

The model uses an undiscounted, before-tax cash-cost method; it does not discount future cash, predict truck values, include insurance common to both offers, calculate taxes or depreciation, or model purchase-option / lease-to-own structures. Check actual fees and payments for double counting.

Side-by-side estimate

Net cost over the same period

Lower modeled cash cost——

Finance / own net cash cost—

Lease / return net cash cost—

Monthly finance payment—

Monthly lease payment—

Opening funds, incl. first payment — loan*—

Opening funds, incl. first payment — lease*—

Remaining loan balance at end—

Interest paid during period—

Resale less sale fees and payoff—

Monthly effective net cost — loan / lease—

*Opening funding includes any down payment, upfront fees/deposit, and the first periodic payment (which may be due later). The security deposit is excluded from net cost because full reimbursement is assumed.

Method and limitations

Compare ownership value, not just payments

Financing net cost = down payment + origination fees + payments made + remaining loan payoff at exit + ownership-only expenses + selling costs − sale price.

Lease net cost = nonrefundable upfront fees + rent during the period + lease-only expenses + estimated return fees. Refundable security deposit is shown as an initial cash requirement, but not as an expense if recovered in full.

Both options must cover the same comparison period. The financing example assumes the truck is sold at the end. The lease example assumes the truck is returned and no purchase option is exercised. Leasing arrangements with different legal or economic substance need different calculations.

The US Small Business Administration outlines important considerations when leasing or buying equipment. IRS Publication 946 discusses depreciation; this calculator deliberately excludes any tax assumption.