In "most" cases, you will have the option to either buy the vehicle, or walk away. If there is damage to the vehicle over and above normal, you will be required to pay to have it repaired, as well as be responsible to pay for any miles in excess of the lease provisions. The mileage is usually what gets people and it can be very, very expensive. If you are considering a lease, make sure it provides at least 15,000 miles per year.The contract will state what the vehicle will be worth at the end of the lease, and that's the price you'd have to pay to keep the vehicle.When you're given the option to purchase the vehicle at the end of the lease, it's usually just a matter of signing the forms they send you if you've kept the payments current. Don't expect the leasing company to keep the contract. Chances are that they'll sell it to someone else like Wells Fargo or whatever.Plan ahead for your needs, such as a growing family, higher fuel prices. Know that you'll be required to provide a certain amount of insurance for leasing that is usually different. The best part of leasing is that the payments are usually lower than outright purchasing, and it takes less of a down payment.The worst part is that you are stuck in a contract for the set number of years, you cannot make many if any modifications to the vehicle, and you have no equity in it when the contract is up. You've paid all that money and have nothing to show for it. You'll still be in the same or worse position towards buying a vehicle when the lease is up.Good luck.