When considering purchasing a new car, one of the most important choices you need to make is whether you want to finance the purchase through a loan (like most car shoppers do) or choose to lease the car. We'll take a look at some of the pros and cons of each option. If you've decided which option is the best for you, check out our inventory of cars ready to lease or finance. If you need a little more help, check out this quiz that can help you decide what option is best for you. 

One the major benefit to leasing a car is that you will be able to afford a better car than you would if you took out a loan. This is because monthly lease payments tend to be a lower than monthly loan payments. Lease contracts often require less money down up front. Leasing also gives you the freedom to step away from a car once your contract is up. 

One drawback to leasing is mileage restrictions. If you go over the allotted mileage set out in your contract, you will have to pay per mile you went over. Another downside is the fact that you cannot make any modifications to the car. 

When you finance a new car purchase, you will continue making monthly payments until the loan, plus any interest, is paid in full. Once that happens, you own the car outright and can do anything you want with it. You can drive the car as much as you want and earn positive equity in the car, which you can use later if you want to sell it or trade it in.

When you choose the finance a car, you will often need a sizable down payment usually about 10-20% of the total purchase price. Your monthly payments will also be higher than a lease payment on the same car. 
If you love driving a new car with the latest technology and safety features, leasing may be for you. 

But, if you prefer driving a car as long as possible, financing will be your best option.