Leasing a vehicle is a surefire way to jump into one of the latest brand models you choose. You'll have access to state-of-the-art technologies, incredible comfort, and more, wowing yourself and your passengers.

Leasing is often a more budget-friendly option because you're borrowing the car for a few years. You typically would not need a sizable down payment for a low monthly fee. While you're expected to return your lease at the conclusion of the agreement, you can always purchase or finance it at any time.

Additionally, many drivers enjoy leasing because routine maintenance is often covered under warranty, so you might not be responsible for services such as oil changes, tire rotations, etc.

Those who finance their vehicles usually do so because they want to own the car outright. Once you complete the payment cycle, the vehicle will be entirely yours. Financing presents unique opportunities to build equity in your car and increase your credit score, as you'll open a new line of credit by taking out an auto loan.

Making monthly payments on time will positively impact your credit score, which can help you refinance your loan if you ever choose to do so. The higher your credit score is, the more favorable monthly payments and interest rate you'll get.

Those who finance can secure a new, used, or certified pre-owned vehicle, thus giving them more options, whereas leasing is usually reserved for new vehicles. Although leasing a used or certified pre-owned car is possible, it depends on the dealership.

Now that you know the benefits of leasing and financing, you'll be better positioned to make an informed decision. Ultimately, your choice will depend on your financial situation and preferences.