What is the main difference between leasing and buying a vehicle?
When you lease a vehicle, you do not own it. You must either return it at the end of the lease term or choose to buy it. Generally, there are fees you must pay when you do not buy the car. When you purchase a vehicle, you own it and can keep it at the end of your financing term.
Brenda Procter, M.S., State Specialist &
Personal Financial Planning, University of Missouri-Extension
Last update: Wednesday, April 19, 2006