The average price of a new car in the United States is approximately $48,000 according to Kelley Blue Book, a vehicle valuation and automotive research company. A car lease, on the other hand, is essentially a rental agreement between you and the leasing company. For the same $37,000 car, the leasing company will advertise a monthly payment, as well as the down payment required. 

So which option do you choose? Here’s what you need to know.

To conclude: Leasing a car is cheaper in the short term, but purchasing a vehicle is usually less expensive in the long run. Of course, you should still weigh the pros and cons of each to determine which option is right for you.