: You may be charged for any damage beyond "normal" wear at the end of the term. Buying a Car

: Most leases cap annual driving (often 10,000–15,000 miles); exceeding this can lead to heavy fines.

: Most leased cars remain under the manufacturer’s warranty, covering major repairs.

Leasing is essentially a long-term rental, usually lasting 2 to 4 years. :

: You do not build equity and must return the car or pay a "buyout" fee at the end.