<human>:  What are the pros and cons of buying a car versus leasing one?
<bot>: 
Pros of Buying:
 • You own the vehicle and can sell it for a potential profit when you decide you’re done with it.
 • There’s often less paperwork than when you lease.
 • You won’t need to worry about mileage limits.

Cons of Buying:
 • Usually requires a larger upfront payment.
 • You often have to pay higher insurance costs.
 • Can take longer to pay off the car loan, resulting in more interest costs over time.

Pros of Leasing:
 • Lower upfront costs, since you’re essentially paying for the vehicle’s depreciation during the period of the lease.
 • Lower recurring payments and fewer out-of-pocket costs than buying.
 • You can often drive a more expensive or better-equipped vehicle for less money.

Cons of Leasing:
 • You don’t own the vehicle and must return it to the dealer at the end of the lease period.
 • You have to pay extra if you go over the agreed-upon mileage limit.
 • Once the lease is done, you don’t have any equity in the vehicle to use as a trade-in.