What are the advantages & disadvantages of leasing a new car?

A lease is the absolute best way to get out of your situation... assuming it works. Depending on how much you still owe on your car can depend on if the bank will buy the deal. Even though the dealer can cover up any difference in what you owe, they cannot make it go away. It would just get rolled into the lease. The advantage though is that you are out of the situation in 36 months or so instead of 72. Then you can start fresh. People often say that at the end of a lease you have nothing and that's true,HOWEVER, if you buy and trade 36 months out, more than likely your payment was higher AND you have inequity that you have to roll over. Would you rather be out of a car in 3 years with nothing, or be in the hole a few thousand and have paid a higher payment the whole time. Feel free to e-mail me the details of your situation to me. If you don't drive too too much and can keep your car in ok shape (doesn't have to be perfect) then leasing is your absolute best bet. Oh one more thing ...  more