A leased car is a vehicle that you drive but do not own. You agree to pay the leasing company a small sum every month in order to drive one of their cars. Leasing a car is similar to renting one. This setup is not uncommon. Between 20 and 30 percent of vehicles are leased. Part of the lease agreement is that you return the vehicle in serviceable condition. If you are involved in a car accident that totaled the car, the leasing company will demand that you pay the remaining lease amount.