If you have difficulties using this calculator, we can help. Send an email (oca.strategis@ic.gc.ca) or call the Office of Consumer Affairs at (613) 952-0271.

What the calculator can do for you?

The calculator is designed to give you a comparison of various vehicle ownership options over the same eight year timeframe. According to automotive industry experts, the average lenght of vehicle ownership in Canada is over eight years. There are three options to consider:

1. Two leases – the average lease is four years (48 months) and, for the calculator to maintain the basic comparison of the eight years (96 months), two leases are necessary.
2. One lease followed by a buy-out – the lease term can be adjusted to any term, as can the term of the buy-out loan. If the lease and buy-out terms together are less than the eight years (96 months), the “free” months are showed as potential savings
3. Vehicle purchase – the financing term can be any length up to eight years (96 months). Any “free” months are indicated in your output.

Helpful hints are available in each step of the process but here are a few to keep in mind:

• None of the calculations include air conditioning tax, gas tax, license fees, administration fees or security deposits. Some of these items can vary greatly among manufacturers and even dealers.
• Tax treatment: these calculations reflect the fact that the amount offered for a trade-in will represent a notional benefit to the consumer of an amount equal to the applicable sales tax. For example, an Ontario consumer offered a trade-in amount of $10,000 will benefit from a further $1,500 (e.g. 15% * $10,000) in calculating his or her total purchase obligation. Conversely, cash down payments are subject to sales tax, which is reflected in the totals.

How to use the calculator?

1. Read "What the calculator can do for you?"
2. Enter your information in the first screen called "Purchase"
3. Select one of the two leasing options at the bottom of the page and press "Submit"
4. Enter your leasing information and press "Submit" again
5. You can print your detailed results by selecting "Print Your Profile" on the "Your Result" screen. Press the back button on your browser to go back to the calculator.
6. Press "Start Over" to begin a new comparison

Other important notes:

1. If you want to erase a number in one field, replace it by a 0.
2. The grey areas cannot be changed manually. They are automatically calculated based on your inputs.
3. Remember, the calculator is designed to give you a comparison of various vehicle ownership options over the same eight year period
4. To make this calculator, we've used a programming language called JavaScript. As such, no information about your personal finances will leave your computer while you are using this service.