Source: MoneySmart
Open the original Rent vs buy calculator on MoneySmart
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Open Loans Native Calculator
Rent vs buy calculator
Compare the cost of renting a household item with buying it outright or borrowing for it instead. This calculator is for consumer goods such as furniture or electronics, not residential property.
What this native port captures
- Total lease cost over the rental period
- Extra cost compared with buying the same item outright
- An alternative borrowing path that estimates payoff time and total repayment cost
Lease and buy inputs
Enter the consumer-lease payment, how often it is charged, the contract length in months, and the price to buy the same item outright.
Results
The comparison below keeps the same MoneySmart structure: lease total first, then a separate alternative borrowing estimate.
Renting the item for $35 weekly over 24 months totals $3,640.
Buying the same item outright costs $1,800, so the lease adds $1,840 in extra cost.
Alternative borrowing result
How these estimates work
- This calculator is for consumer leases on goods and assumes you return the item at the end of the rental period.
- Late fees, delivery fees, insurance and end-of-lease purchase options are not included.
- The alternative borrowing result uses a fixed repayment amount and estimates how many payment periods it would take to reach a zero balance.
- If the alternative repayment amount does not cover interest, no payoff estimate is shown.
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