First Bank of Charleston First Bank of Charleston First Bank of Charleston
First Bank of Charleston First Bank of Charleston First Bank of Charleston
First Bank of Charleston   First Bank of Charleston
Auto Loan/Lease Calculator
 
"Should I lease or should I buy?" It is hard to compare these options because the terms are so different. Use this calculator to help you make the right choice.

Simply enter the information requested in the boxes adjacent to that particular line's description. The rest is done for you.

Lease

Term:    Example: 60.0 = 60 months
Monthly Payment:    Example: 300.00
Security Deposit/Leasing Fee:    Example: 100.00
Down Payment (Capital Reduction):    Example: 500.00
Rebate:    Example: 500.00
Buy

Price:    Example: 25000.00
Rebate:    Example: 1000.00
Down Payment:    Example: 2000.00
Sales Tax Rate:    Example: 6 = 6%
Other Up-Front Cost:    Example: 200.00
Loan Term:    Example: 60.0 = 60 months
Annual Percentage Rate:    Example: 4.5 = 4.5%
Market Value at End of Loan Term:    Example: 3500.00
 
   

Cost of Leasing
With a monthly payment of $1.00 and a term of 1.0 months, your total lease payments will be $1.00.
Total Payments: $1.00
+ Security Deposit/Leasing Fee: $1.00
+ Down Payment (Capital Reduction): $1.00
- Rebate: $1.00
  _________
Total Cost of Lease $2.00
Average Yearly Cost of Lease $24.00
   
Cost of Buying
With an annual percentage rate of 1.0%and a term of 1.0 months your monthly loan payment will be $0.00. Over the life of the loan, you will pay $0.00 in interest.
Purchase Price: $1.00
- Down Payment: $1.00
+ Sales Tax: $0.01
+ Other Up-Front Costs: $1.00
- Rebate: $1.00
+ Interest: $0.00
- Market Value at End of Loan $1.00
  _________
Total Cost of Buying $0.01
Average Yearly Cost of Buying $0.12
   
You save approximately $1.99 in total payments over the life of the loan.
   
Please note that this analysis is useful for comparison purposes but does not take into consideration other variables that could change the actual costs. Future dollar costs and savings are not discounted to a present value. This includes both the monthly payments and the credit for the value of the vehicle at the end of the loan. Since these dollar amounts are not discounted to a present value, the comparison does not reflect the time value of the dollar savings.

This calculator is provided to give you an estimate of the payment and terms of a loan program or product. It is intended as a tool to use for estimating and is not guaranteed to provide the exact results that you may see with a particular product or plan, nor is it guaranteed to provide an accurate rate as required by truth-in-lending regulations. Results obtained with this calculator should be discussed with a qualified professional before any product purchases or loan commitments are made. Any loans made as a result of product inquiries to this institution are subject to credit, property, and/or collateral approval as well as other terms and conditions that may not be mentioned on this page.
 
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