---
id: faq-0004
title: "What's the difference between financing and leasing a vehicle?"
category: faq
subtopic: financing
page_type: faq
source_url: "https://www.castlechevynorth.com"
tags: ["financing", "leasing", "lease", "purchase"]
questions:
  - "Should I lease or finance?"
  - "What's better-buying or leasing?"
  - "How do leases work?"
  - "Is leasing cheaper than buying?"
related: [lease-terms, finance-rates, trade-in-value]
dealer: Castle Chevrolet North
---

**Financing (buying):** You own the vehicle after paying off the loan. You build equity, can modify the car, and keep it as long as you want. Monthly payments go toward ownership.

**Leasing:** You rent the vehicle for a set term (usually 2-4 years). Monthly payments are typically lower, maintenance is covered, and you always drive something newer. When the lease ends, you return the car.

Choose financing if you want long-term ownership and customization. Choose leasing if you prefer lower payments, warranty coverage, and driving a new car every few years.

Castle Chevrolet North's finance team can walk through both options with you. Call **(847) 439-0900** to discuss which makes sense for your lifestyle and budget.