Use this tool to compare the cost of buying a new car versus keeping your current car. We calculate the total cost of ownership over a set number of years, considering factors such as:
By inputting details about your current car and the potential new car, you'll get a comprehensive breakdown of costs to help you make an informed decision.
Looking for a car purchase comparison calculator?.
Try our car purchase calculator to compare the cost of buying a new car versus keeping your current car.
Enter the estimated amount you could sell your current car for. This will be used to calculate depreciation and will be automatically added to the cash payment for the new car.
Total Annual Maintenance Cost: £754.00
Projected vehicle details after years:
Mileage: 50,000.00 miles
Total upfront payment: £0.00
Total Annual Maintenance Cost: £200.00
Projected vehicle details after years:
Mileage: 0.00 miles
Deciding whether to keep your current car or lease a new one is a significant financial decision. This comparison tool helps you make an informed choice by considering various factors such as lease payments, fuel costs, maintenance, insurance and more.
By inputting details about your current car and a potential lease deal, you can see a side-by-side comparison of the total costs over time. This allows you to determine which option makes more financial sense for your situation.
Remember, while cost is an important factor, it's not the only consideration when choosing between keeping your car or leasing. Factors like having a new car regularly, included maintenance packages, mileage limits, and personal preferences should also play a role in your decision.
This tool takes into account various factors including monthly lease payments, initial rental, fuel costs, maintenance costs (if not included), insurance premiums, road tax, excess mileage charges, and any admin fees.
For your current car, maintenance costs typically increase with age and include servicing, MOTs, repairs and tyres. With leasing, maintenance can either be included in the monthly payment (maintained contract) or paid separately. New leased cars generally have lower maintenance costs and are covered by warranty.
If you exceed the annual mileage limit specified in your lease contract, you'll need to pay an excess mileage charge. This is typically charged per mile over the limit at the rate set in your contract. Our tool factors in these potential charges based on your expected mileage.
For electric vehicles, the tool adjusts the fuel efficiency calculation to use kWh/mile instead of MPG. It also considers the typically lower maintenance costs and different road tax rates associated with electric vehicles, plus any specific lease terms for EVs.