Deciding whether to lease or buy a new car is never an easy decision. The Association of Consumer Vehicle Lessors and Kelley Blue Book (www.kbb.com) are now offering a new "Leasing vs. Buying Quiz" for all consumers coming to Kelley's kbb.com Web site for automotive information and advice.

The "Leasing vs. Buying Quiz" prepared by the Association of Consumer Vehicle Lessors (www.acvl.com) is designed to assist consumers with their decision on whether leasing or buying is right for them.

"To make an informed decision whether to lease or buy, the consumer needs to take into consideration what’s going to happen at the beginning, during and at the end of the lease," said ACVL President Jesse Bragg. "Our quiz is intended to help the consumer take all the factors important to that individual into consideration before signing any agreement on a new vehicle," Bragg added.

"We think the Leasing vs. Buying Quiz will be a great source of information for consumers making this decision," said Charlie Vogelheim, editor of Kelley Blue Book. "Having the Quiz accessible from the 'advice' page of our KBB.com website will give millions of consumers the opportunity to make a more informed decision on buying vs. leasing. We recognize ACVL as the experts in the leasing field and applaud the great job they’ve done with all the leasing information they’ve put into their ACVL.com lease site. It’s definitely the best on the Web," Vogelheim added.

There are four main issues consumers should consider regarding their trade cycle when deciding whether to lease or buy, according to Bernard de Souza, chairman of the ACVL Customer Satisfaction Committee that developed the quiz.

• The vehicle return/walkaway option applies only if you complete the lease term you choose -- be realistic and select a lease term you expect to complete.

  
  

• You can avoid the hassles of negotiating a trade-in value only if you complete the lease term -- shorter lease term increases the likelihood that you’ll do so.

  
  

• Sales tax in most states is only paid on the lease payments rather than the full price of the vehicle. The shorter the lease term, the more sales tax you save compared with purchasing the vehicle.

  
  

• If you want to keep your car more than six years, then leasing the car will probably mean you will have to buy the car at the end of the lease because the maximum lease term generally available is less than 66 months. In that case, you may have to pay a down payment and get financing at a higher interest rate than if you had financed the vehicle originally.

  
  

  According to ACVL, the first three items make it beneficial to lease if you choose a lease term of two to four years. Although five-year lease terms are available for consumers, many people decide to trade prior to completing their lease term on five-year leases so items one and two may not benefit them. Also, the sales tax savings is reduced.

  
  

  For trade-in cycles longer than five years, refinancing issues tend to make financing a better option, although it is just one of a number of factors to consider. Consumers can take the ACVL "Lease vs. Buy Quiz" by visiting the Kelly Blue Book web site (select the advice page and then the Lease vs. Buy Quiz) at KBB.com, or by visiting the ACVL site directly (ACVL.com).

  
  

  
  

  About ACVL

  
  

  The ACVL, founded in 1993, is an association of the nation’s largest vehicle lessors. Based in Nashville, Tennessee, the ACVL is a national trade association for the largest manufacturer and import distributor captive finance companies, banks and independent leasing companies. Its primary goals include increasing consumer understanding of lease benefits and responsibilities through improved disclosure. Further information about the ACVL and consumer vehicle leasing may be found on the Association’s web site: www.acvl.com.

  
  

  
  

  About Kelley Blue Book

  
  

  Based in Irvine, California, Kelley Blue Book (www.kbb.com) is an automotive resource for consumers and the industry. It currently is celebrating its 75th anniversary. KBB.com attracts over 4 million unique visitors to its site and issues nearly 30 million pricing reports each month.