Should you buy or lease a car?

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BISMARCK, N.D. - If you've ever bought a car, you've had the tough choice of choosing between owning or leasing it.

Eide Chrysler in Bismarck says North Dakota is ranked at the national average for leasing vehicles, which is 30 to 40 percent of dealerships sales.

However, leasing isn't feasible for everyone.

"For me, it makes it easier on me because I do travel a lot. For instance, Killdeer, or Minot, Dickinson, Williston, Fargo," says Aaron Fernelius, Bismarck resident.

If you lease a vehicle at Eide Chrysler, the standard lease mileage is 10 to 15 thousand miles per year. Jesse Peterson, the president of Eide says if you go over that mileage, it costs an extra 15 to 25 cents per mile.

"Mileage is definitely something a consumer should consider before making a lease vs. buy decision. You're really responsible for two things through the term of the lease, first is mileage and the seconds going to be the condition of the vehicle," says Jesse Peterson, President of Eide.

Deciding to lease vs. buy a car is a personal decision, and it depends on how long you plan to keep the vehicle and how financially stable you are.

Peterson says leasing isn't an attractive option if you plan to drive a lot of miles, he then says you should consider buying the vehicle instead.