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Hi, Julie--Here's what I know about car leasing. You generally need to come up with a small down payment plus taxes and title fees. Payments are generally lower than if you buy the car. However, you are locked into owning the car for the term of your lease. You will probably need to carry top-of-the-line insurance coverage since you are technically not the owner of the car. You may be required to maintain a certain level of maintenance and/or have the car serviced at the dealer. You are limited to a certain number of miles under the lease and you will have to pay a per-mile charge at lease-end if you exceed the limit. The car will be assessed at lease-end for any damage or unusual wear-and-tear and you will have to pay for that when you turn the car in. Finally, you have absolutely no equity in the car. If you decide to keep it at the end of the lease, you will have to buy the car for the market price. If you decide to purchase another car, you will not have any trade-in value.

I hope this helps!

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