Quote Originally Posted by Sirrahsim
What do you mean you still owe more at the end of the lease? Like if we decided to walk away at the end of the lease and buy a used car or something we would still owe something to Ford?
No, I meant that, unlike when you get to the end of the payments w/a car that you purchased, the lease won't be paid off. There will still be a balance. You do not owe that balance but if you want to continue w/that same car, you either have to lease it again, buy it outright (which makes no sense because you already paid on it for X amount of years) or lease another one. No, once the lease is fulfilled, you're done. For ex: my (then) husband leased an Acura legend for me. We made payments of $532 a month for 5 years. At the end of the lease, there was still a balance of something like $8,000, which is ridiculous. So I had the option of buying it and make more payments , turning it in or leasing another car. We walked away from it all and bought a car. Sorry if I confused you.

One thing I forgot to mention is that sometimes employers will lease a car for their employees and the employer makes the payments. As long as it's in the company's name and you have no financial responsibility or liability, then that's entirely different. But, again, should job loss occur, you're without a vehicle and no past history in your credit report. But, as you say, job loss isn't a concern.