Some people choose to lease a car rather than buying one outright. Here are some useful tips on what to consider before leasing a car: The most important thing to remember is that you do not own vehicle. You get to use it but must return it at end of lease unless you choose to buy it.
Up-front costs may include first month's payment, a refundable security deposit, taxes, registration and other fees and other charges.
Monthly lease payments are usually lower than monthly loan payments because you are paying only for vehicle's depreciation during lease term, plus rent charges (like interest), taxes and fees.
You are responsible for any early termination charges if you end lease early.
You may return vehicle at lease-end, pay any end-of-lease costs and "walk away."
The lessor has risk of future market value of vehicle.
Most leases limit number of miles you may drive (often 12,000-15,000 per year). You can negotiate a higher mileage limit and pay a higher monthly payment. You will likely have to pay charges for exceeding those limits if you return vehicle.
Most leases limit wear to vehicle during lease term. You will likely have to pay extra charges for exceeding those limits if you return vehicle.