3. What’s Next for Your Personal Financial Plan?

Prepare a list of future actions to use when buying, financing, and leasing a car.

Maintain a record of operating costs and maintenance actions for your vehicle.

Purpose: To compare costs of buying or leasing an automobile or other vehicle. This analysis should compare two situations with comparable payment amounts, even though the length of the agreements may differ.
Financial Planning Activities: Obtain costs related to leasing and buying a vehicle. This sheet is also available in an Excel spreadsheet format in Connect Finance.
Suggested Websites: www.leasesource.com, www.kiplinger.com/tools

Purchase Costs

Leasing Costs

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Total vehicle cost, including sales tax ($ _ Down payment (or full amount if paying cash) Monthly loan payment: $ item is zero if vehicle is not financed) times month loan (this $ Opportunity cost of down payment (or total cost of the vehicle if bought for cash): $ times number of years of financing/ownership times_ percent (interest rate which funds could earn) Less: estimated value of vehicle at end of loan term/ownership Total cost to buy $ 6