Each choice has its own advantages and disadvantages and making this decision depends on several factors, including your personal preferences and finances.

"Ownership"
Buying: You own the vehicle once you make the last payment.
Leasing: You don’t own the vehicle; you must return it at the end of the lease unless you choose to buy it.

"Payments"
Buying: Monthly payments can be higher (or for a longer term) because you are paying for the entire purchase price of the vehicle.
Leasing: Monthly payments can be lower (or they could be the same with a shorter term) since you pay only for the vehicle’s depreciation.

"Early Termination"
Buying: If you end the loan early you are responsible for the loan pay-off amount.
Leasing: If you end the lease early you are responsible for the lease pay-off, plus any early termination charges.

"Returning the Vehicle"
Buying: Not required, but when you want a new vehicle you may have to sell or trade the vehicle.
Leasing: When the lease is up you return the vehicle to the lender and pay any end-of-lease costs, then walk away.

"Future Value"
Buying: You assume all the risk of the vehicle’s future market value.
Leasing: The future value of the vehicle is predetermined by the leasing organization. The leasing organization assumes all the risk for the vehicle's value, not you.

"Mileage"
Buying: There are never limits to the miles driven on the vehicle, but the more miles you drive the lower the vehicle’s trade-in or resale value will be.
Leasing: All leases have mileage limitations that you negotiate upfront. If you exceed these limitations you will be assessed a mileage penalty at the termination of the lease.

"End of Term"
Buying: You made your last payment and you now own your vehicle.
Leasing: The current lease has ended and you must decide to buy the vehicle outright or lease another vehicle.