Is it cheaper to lease or finance in 2026?

Leasing almost always produces a lower monthly payment than financing the same car, because you are only paying for the depreciation portion (typically 40-60% of the vehicle's value over 3 years) rather than the full purchase price. However, at the end of a lease you own nothing, while at the end of a loan you own the car. Which is "cheaper" depends on how long you keep vehicles, how many miles you drive, and whether you value lower monthly cost or long-term ownership equity.