What distinguishes leasing from buying a vehicle?

Leasing a vehicle specifically involves renting it for a predetermined period, typically ranging from two to four years. During this time, the lessee makes monthly payments but does not gain ownership of the vehicle at the end of the lease term. This contrasts with buying a vehicle, where the buyer makes payments toward full ownership. Once the purchase is complete, the buyer owns the vehicle outright and can keep it for as long as desired.

The aspects that differentiate leasing from buying include not just financial considerations but also factors like the flexibility to change vehicles more frequently with leasing, as well as potential limitations on mileage and wear and tear. The other choices do not appropriately capture this essential characteristic of leasing as it relates to ownership and commitment. Therefore, understanding that leasing is fundamentally about using the vehicle for a set time without gaining ownership is what makes this distinction clear.