For many years, leasing has been ideal for drivers across the United States. This is due in large part to it usually being less expensive than financing. In most cases, leases require a smaller down payment and monthly payments; however, it ultimately depends on the type of vehicle you drive.

Though you’re expected to return the leased vehicle at the end of the agreement, you can purchase it or finance it at any time. This is especially advantageous to those who have exceeded the mileage limit set in the lease agreement, as you won’t incur a penalty.

Moreover, it’s likely your vehicle won’t need to have any major maintenance or repair work done during the life of the lease. Often, a warranty covers routine maintenance, so you won’t have out-of-pocket costs.