When a lease makes sense
- You want a new car every few years.
- You drive a steady, predictable number of miles.
- You worry about what the car will be worth in three years. At lease end you can hand it back.
When buying makes sense
- You keep cars eight years or more. EVs cost little to run, so the long years are the cheap years.
- You drive a lot. Excess-mile fees add up fast.
- You want to modify the car or never think about wear charges.
Run both
Compare net cost over the same months: what you paid, minus what you own at the end. The lease calculator does this and values the car at the lease residual. That residual is a guess by the lender, so try the buy case with a lower value too.
The tax angle
The new car-loan interest deduction covers new, US-assembled vehicles bought with a loan through 2028, with income limits. It does not cover leases. See what is left at the federal level.