Lease vs Loan vs Rent Calculator

Lease vs Loan vs Rent Calculator helps compare car ownership, lease, rent, sharing, commute, and mobility decision scenarios in English.

Lease, installment, and rent inputs

Ownership method comparison

Best method

Lease

Saving vs worst

₩29,709,072

Installment net cost

₩53,170,064

Lease net cost

₩23,460,992

Rent net cost

₩48,921,600

Installment monthly

₩656,298

Lease monthly

₩372,104

Rent monthly

₩1,019,200

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Korean installment purchase versus lease versus long-term rent

This English guide follows the Korean calculator logic and preserves the Korean won amounts, statutory thresholds, vehicle categories, penalty rates, subsidy caps, and administrative assumptions used by the source page.

Taxes, cash flow, and business deduction

The comparison keeps Korean acquisition tax and vehicle-tax assumptions. Passenger acquisition tax is 7 percent, EV acquisition-tax relief is capped at KRW 1.4 million, and hybrid acquisition-tax relief is capped at KRW 400,000. Annual vehicle tax uses KRW 80 per cc up to 1,000 cc, KRW 140 per cc up to 1,600 cc, and KRW 200 per cc above that, plus 30 percent local education tax.

Business deduction limits are preserved. Lease or rent expense uses a KRW 15 million annual limit, while depreciation for owned vehicles uses a KRW 8 million annual limit. Sole proprietors use the individual income-tax bracket table, and corporations use the corporate-tax bracket table.

  • Default vehicle price is KRW 40 million and default contract term is 48 months.
  • Default installment down payment is 30 percent with 5.9 percent APR.
  • Default operating lease deposit is 30 percent, residual value is 30 percent, and lease APR is 5.5 percent.
  • Default rent coefficient is 0.028 when maintenance and insurance are included.

End-of-term and early termination

Installment purchase includes down payment, monthly principal and interest, acquisition tax, annual tax, insurance, maintenance, and residual value. Lease separates operating lease and finance lease treatment, including deposit, advance payment, residual value, buyout tax, insurance, maintenance, and excess mileage.

The early termination assumptions are also kept: lease and rent use 30 percent of remaining payments, while installment early repayment uses 1.2 percent of remaining principal. The winner is selected by net total cost after tax benefit, not by the lowest monthly payment alone.