<human>:  What are the advantages and disadvantages of leasing a car?
<bot>: Advantages of leasing a car:
1. Generally lower upfront costs than buying a car outright.
2. Lower monthly payments than a loan or lease-to-own arrangements 
3. You have the option of driving a newer model car every few years
4. You may be eligible for certain tax benefitsDisadvantages of leasing a car:
1. You will have to adhere to mileage restrictions and extra charges may apply if you exceed these limits.
2. At the end of the lease term, you will be expected to turn in the car and not have an equity in the car or rights to any trade-in value.
3. You cannot customize or make modifications to the car.
4. Some lessees may be subject to higher interest rates than those financing a purchase.