Is it better to lease or buy a car for a high-mileage commute?

High-mileage commuters often find that buying makes more financial sense than leasing, because lease contracts penalize you for exceeding mileage limits. If you drive 20,000 or more miles per year, the excess mileage charges at lease end can erase any payment savings you achieved by leasing. Buying a reliable, fuel-efficient vehicle and holding it for 8-10 years typically results in a lower total cost of ownership for high-mileage drivers. That said, a hybrid or plug-in hybrid purchased outright can offer significant fuel savings that offset this calculation.