When faced with the task of acquiring a new or new to you vehicle you have the option of purchasing or leasing. There are a lot of aspects to consider before deciding which is right for you. After working for an auto lending institution I have figured out the few scenarios in which you may find leasing more to your liking. The most obvious is that it allows you to live slightly beyond your means as long as you have a decent credit score, meaning that you can usually get a nicer car with low monthly payments. Now I personally don’t consider this a great benefit, but there are plenty of people that the luxury is worth not actually owning your vehicle. You must keep in mind that when you lease a vehicle you do not own nor are you progressing toward owning that vehicle, if you want to buy and own a car leasing is not the answer you will pay more in the long run if you decide to buy your vehicle from the leasing institution. Another thing to consider is that the insurance requirements on a leased vehicle are usually steeper than a loan so what you save in monthly payments you could end up paying to your insurance company. If you are not sure if you are looking to own your vehicle or maybe you only need a vehicle for a short period of time such as one to two years, leasing may be the answer, but in all other situations you might as well be making payments to own your car rather than renting it for years at a time.