For many people, buying a new car is more about the how than it is about the what.

Minivan or SUV? Easy.

Chevy or Olds? No problem.

Buy or lease? Well, that depends.

Leasing has grown in popularity in recent years, even as car makers sliced interest rates on new-car loans to 0 percent late last year.

Leases typically involve low- or no-down payments and relatively low monthly payments. About a third of all new car transactions are leases, according to Consumer Reports.

Choosing which way to go  lease or purchase  depends on plenty of factors. And it’s a big decision.

Buying a car means you own it outright once the loan ends, likely within four or five years. You can drive the vehicle as far as you want, and haul whatever you want, without worrying about penalties for extra mileage or making cosmetic repairs.

Leasing a car likely gives you a lower monthly payment, but it also means adhering to a yearly mileage limit (typically 12,000 or 15,000), and agreeing to return the car in excellent condition. You don’t own anything at the end of the lease, but that also means you don’t have to worry about selling the car yourself when it comes time to get a new one.

According to Consumer Reports, leasing usually is best for people who drive less than 15,000 miles a year, keep a vehicle in good shape and tend to get a new car every two to three years anyway.

Others usually should focus on a purchase.

“We’ll show you the comparisons side-by-side,” said Loris “Junior” Brubeck, owner and president of Jim Clark Motors in Lawrence. “If you’ll drive a lot of miles, leases are not a good deal.”

Either way  buy or lease  some rules of the road don’t change when it comes to dealing for a new car.

Before you walk onto a lot or into a showroom, have an idea of what you’re looking for  such as a style and equipment  and figure out a budget.

“Don’t look at a Suburban if you can only afford a Cavalier,” said Mike Grady, a salesman for Crown Chevrolet-Oldsmobile in Lawrence. “A lot of first-time buyers come in here and get overwhelmed with all the choices and they try to buy something they can’t afford.”

Next, be sure to test drive the vehicle and make sure it’s what you want.

“Just because it’s cheap doesn’t mean it’s always good,” said Brubeck, of Jim Clark. “Understand how the features work and drive the car. Don’t be in a hurry to make a decision.”

Also, be sure to do your research and know what to expect.

“Go in and work your deal, and then decide whether it’s best to buy or lease,” said Gary Bennett, general manager of Laird Noller in Lawrence. “Look at the payment and look at the mileage to see if it’s realistic.”

 6News consumer reporter Karen Palermo Bledsoe can be reached at 832-6335.