Leases have advantages and disadvantages. The advantages are lower monthly rates, new car every few years, and no worries about long term reliability (since you'll be swapping the car out before anything catastrophic is likely to happen). The downside is that after three years of monthly payments you won't actually *own* anything. You're basically paying the dealer to rent the car, and once your lease is up they still get to sell it. Buying a car will tend to cost you more per month, but after your payments are done you *own* the damn thing and can do what you like with it. You'll obviously have to handle repairs, etc out of pocket, but when you're saving $450 a month on a car payment it's not as much of an inconvenience.