Financial Calculator for Deciding Whether to Buy or Lease a Car
6 August 2006From time to time I run across tools and calculators which are useful for anyone who is mathematically challenged and wants help making a financial decision. I’ll post them in the Tools and Calculators Category for easy access.
This one comes from Fox News’ Personal Finance division. It’s a calculator for people looking to get a car that asks whether you should buy or lease – and I like that it has added into it an option to consider the alternative of taking your downpayment you would have made and investing it. Remember that this is a more complicated decision that any simple calculator can show – but it gives you a good idea of whether it’s better in 5 years to have a car that’s lost some value or a down payment that’s gained some value.
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