VegasTriker

People who give good financial advice often refer to a lease as a fleece. Car dealers love the idea as it allows them to "sell" a more expensive and profitable car or truck the buyer would never consider buying outright based on the monthly payments they could realistically afford. The dealer usually collects a pretty substantial upfront payment as well. At end of the lease you have no equity in the vehicle to apply as a down-payment for a new vehicle. If you go over the mileage limits you can get a big bill just to turn in the vehicle.

I had a neighbor who used to lease vehicles and turn them in after a few years. She always drove a newer vehicle than I did. The last time I remember her getting a new car she had to roll over a pretty hefty balance into the new lease just to get out of the old one. It's a vicious cycle where you end up paying more for the vehicle and never have any equity in what you are paying for.