Is it smarter to lease or buy a sedan right now?

Leasing makes sense if you drive under 15,000 miles per year, want to drive a newer vehicle every 3 years, and prefer predictable monthly costs with no resale risk. Buying makes more sense if you drive heavily, want to build equity, or plan to keep the car for 6+ years. Right now, with interest rates elevated, leasing often produces a lower monthly payment than financing the same car — making it more attractive than it was during the low-rate years of 2020–2021.