Conventional wisdom often tells us that it is smarter to buy something than to lease it. After all, why make payments on an item that will never belong to you? But for many, when it comes to deciding whether to lease or buy a car, leasing may in fact the better option.
The most immediate benefit of leasing a car rather than buying one is that it usually requires a much lower down payment. In fact, sometimes all that may be required is the first month’s payment and a refundable deposit. So for 
those who are low on available cash but are still hoping to drive a new car off the lot, the leasing option often allows them to drive away without having to provide a large amount of money upfront.
Deciding to lease a car also usually means lower monthly payments than purchasing one. The reason is that when an individual leases a car, they are not really paying for the whole car. They are only paying for the car’s value during the time that it is leased. Therefore, monthly payments are often 50% or less than what they would be with a conventional loan to purchase the same car.
It’s also true that a new car loses much of its value the moment it is driven off the lot. This is simply because once it has its first owner, the new car suddenly becomes a used car. Even if the previous owner only drove it for less than year and put nothing but highway miles on it, the car has lost its “new car appeal”. But for someone who chooses to lease that same car, the resale value is of little concern. After all, it was never really their car to begin with and selling it to the next owner is not their responsibility, as long as it is returned in good shape when the lease expires.
Lower upfront costs, smaller monthly payments, and not having to worry about resale value all make leasing a car an attractive option. Although the individual may never actually own the vehicle, in most instances they are still able to drive a great car off the lot. In fact, with short lease options available, drivers who decide to lease rather than buy can even experience the thrill of driving a new car every two or three years.