You get to use it but must return it at the end of the lease unless you choose buy it. Early termination You are responsible for any early termination charges if you end the lease early. The lessor has the risk of the future market value of the vehicle. 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 the vehicle.
Most leases limit wear to the vehicle during the lease term.
You will likely have to pay extra charges for exceeding those limits if you return the vehicle. You own the vehicle and get to keep it at the end of the financing term. Monthly payments Monthly loan payments are usually higher than monthly lease payments because you are paying for the entire purchase price of the vehicle, plus interest and other finance charges, taxes, and fees. Early termination You are responsible for any pay-off amount if you end the loan early. You may have to sell or trade the vehicle when you decide you want a different vehicle.