Backstory: So, I was toying with the idea of leasing a new vehicle, not that anything is wrong with my Honda Ridgeline. I really miss my jeep wrangler and standard transmission and I thought would it make sense to lease a wrangler. I am a complete neophyte when it comes to the details of a lease. I've started reading up on Edmunds and I'm getting a bit more versed. I still have some newbie questions. After the lease is up, say 36 months. You have the option to buy it. How does that work? Is it like buying a used card at that point, i.e., down payment auto loan etc? Since many leases expect money up front say 3,000, how would getting a new leased vehicle after this one ends? Do I need to come up with 3,000 or would I get some sort of "credit" when turning in my old leased vehicle to get a new leased vehicle. Lease payments: There seems to be a lot of factors (which can be confusing) that go into the computation and I've heard of complaints regarding this. Specifically, you see advertisements about 199 a month, but then you walk away with 250 or more. What do I need to know to avoid those sort of surprises and/or should I totally ignore those type of ads in the first place? Is there a rule of thumb type of payment guide, like for every 1,000 dollars you go up in price you can expect to pay x dollars a month, like you see on auto financing? Other then not owning the vehicle, what are the downsides to leasing? I'm not worried about the mileage quota, I don't put that much on to really be concerned.