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| Â BUYINGÂ Â Â Â | Â VSÂ Â Â Â Â Â Â Â | Â LEASINGÂ Â Â Â |
| The driver is typically required to pay 10-20% down when taking out a car loan. | Â Down Payment | Leasing usually requires a lower down payment and less up front costs than buying. |
| Loan payments are usually more costly than lease payments; lower payments can be achieved with a longer loan length, which also means additional interest. | Â Monthly Payments | Lease payments are typically lower than loan payments since drivers are only paying the difference between capitalized cost and residual value. |
| During loan payments, the driver gains equity in the vehicle to reach full ownership. | Â Equity | Leasing means no negative equity, so the driver will never owe more than what the vehicle is worth. |
| The driver has full ownership of the vehicle and can make modifications, trade in, or sell when desired. |  Ownership    | The driver does not own the vehicle and cannot make modifications during the lease term. |
| The value of the vehicle affects the driver in terms of its future resale value. | Â Future Value | Depreciation in the vehicle's value does not affect the driver. |
The car shopping process can be complicated and exhaustive. There are several important decisions to make and a wide array of different options to consider when shopping for a new vehicle. For instance, shoppers must determine whether they want to invest in a new or used vehicle. Then, those who opt for a new car must choose which model they want and decide between buying and leasing. Each option offers a number of advantages and disadvantages that shoppers can learn about before making a final decision. Some key differences between buying and leasing a new vehicle are outlined in the chart above, and here are a few more notable benefits for both:
Buying
- Insurance costs for buying a new vehicle are pretty standard, while leasing typically requires higher amounts of insurance coverage.
- Drivers don't have to worry about mileage restrictions when buying a new vehicle, while nearly all leases limit the number of miles per year.
- Leasing is a great option for drivers who enjoy having a brand new car every few years to take advantage of new and improved features.
- Since the manufacturer's warranty typically outlasts a lease term, the driver doesn't have to worry about out-of-pocket expenses for regular maintenance and repairs.
 
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Additional online resources for buying or leasing a new car in Asheville, NC
In addition to deciding whether to buy or lease a new car, shoppers in the Asheville, NC area have a few other factors to consider. Fortunately, Fred Anderson Nissan of Asheville offers several online research tools to aid the shopping process. These include:
In addition to deciding whether to buy or lease a new car, shoppers in the Asheville, NC area have a few other factors to consider. Fortunately, Fred Anderson Nissan of Asheville offers several online research tools to aid the shopping process. These include:
- Finance pre-approval form
- Car payment calculator
- Fuel savings calculator
- Trade-in value calculatorÂ