Ally Financial launched a new tool this week to help consumers decide whether buying or leasing might be their best option when shopping for a vehicle.

Available for free on Ally’s website, the company explained the interactive buy or lease tool can help arm consumers with the right information to start the vehicle-financing process.

The tool leads consumers through five simple questions on their automotive and driving needs, including how many miles they drive annually, down payments intentions and maintenance, as well as preferences on how long to keep a vehicle.

After completing the questions, Ally indicated consumers will learn which option may best fits their needs — buying, leasing or the Ally Buyer’s Choice product. Consumers can explore additional information on these financing options, or take what they’ve learned and head into the dealership equipped with knowledge on the different choices available.

“Well informed consumers do their research and come armed with a game plan when looking to finance a vehicle,” said Andrea Riley, chief marketing officer of dealer financial services for Ally.

“Knowing what types of options are available before even stepping foot in the dealership can help consumers feel more confident that the decisions they are making are the right ones for their financial situation,” Riley continued.

The interactive tool is available for all consumers on Ally’s website at www.ally.com/auto/personal/explore-financing-options/.