Ownership  You own your vehicle for as long as you wish on your own terms

Leasing  You are under a lease contract with terms for a designated amount of time

Loan payments  you will pay off the vehicle over time

Lease payments  Lower monthly payments for the vehicle’s depreciation and lower maintenance/service costs (Most automotive brands include the maintenance for 2-3 years)

Reselling  When you decide you want a new car, you will have to either trade-in or sell it

Trading In  At the end of your lease, you simply return it to the dealer without any worry of reselling

Investing  Even though your vehicle’s value will depreciate, you’ll still have equity and cash value

Renting  Although the value of the vehicle you lease has no future effect on you, you will have no equity or investment in it

Unlimited Mileage  Though more miles equals lower trade-in value, when you own your vehicle, there is no cap on the number of miles you can drive

Limited Mileage  A majority of leases limit the number of miles you can drive, and often, you have to pay for surpassing the limit

Ability to Customize  Since you own your car, you can customize any part of your vehicle on your own terms

Lease Restrictions  Having to return your leased vehicle in the same condition limits you from modifying your car in any way

Final Payments  Once you’ve paid off your car loan, you have no further payments to worry about

Renewing Payments  At the end of your lease, you can choose to purchase the car or decide on a new car to lease