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Loan payments are usually higher than lease payments because you are paying off the entire purchase price of the vehicle, plus interest and other finance charges, taxes and fees.  Lease payments are almost always lower than loan payments because you are only paying for the vehicles depreciation during the lease term, plus rent charges, taxes and fees.

You can sell or trade in your vehicle at any time. If necessary, money from the sale can be used to pay off any loan balance.  If you end the early, charges can be costly as sticking with the contract..  On occasion I can buy the car from the leasing company as a trade in, letting you off the hook.

The vehicle will depreciate, but it cash value is yours to do with as you will.  On a lease its future value doesnt affect you financially. Although you wont always have equity to use toward a new car.

At the end of the term of the loan you have no further payments and you have built equity to help pay for your next vehicle.  At the end of the lease you can finance the car, or lease or buy.