If you lease you pay a deposit and monthly payments usually for1-3 years then when lease is up you lose the car and all your money. But during the lease all repairs are covered by the dealer. If you buy you need a deposit and usually make higher payments for a longer term, also if your warranty expires after 3 year or 36000 miles then you have to cover all repairs. also with a lease your allowed a certain amount of miles per year and I you go over that limit you pay a penalty. If you've got the money and you get bored with cars frequently it's prob better to lease and trade it in every few years versus paying or a car for 5+ years and not liking the car anymore.
In general you pay less per month on a lease but at the end of the deal, usually 2-4 years, the car goes back to the dealer since they still own it. When you buy a car you own it at the end of the loan.
leasing is when you pay money to borrow something and giving it back after only to not get your money back. you would be paying x ammount monthly plus interest of x ammount percent per month, and buying it is is to send x ammount in total and not pay anything more.
In leasing, you pay for the use of the vehicle while in buying, you purchase the whole vehicle. In essence, in a lease you pay for the part you have used up i.e. the depreciation alone. For more details, visit http://www.leaseguide.com/lease03.htm.
I lease one of my vehicles, and the price per month is close to the depreciation of the car. Cars are always new and the new warranties cover all the repairs. No, you don't get any money back but you get new cars every 3 years or so. To purchase a car and get the same payment amount per month, you have to spread out the payments for up to seven years. After 7 years of driving it 12 - 15000 miles a year, yes you finally own it, but it has almost 100,000 miles on it and you need to buy a new one and start over.
Leasing is like renting a car, but a lease will include all services and maintenance on the vehicle and is usually done as a tax deduction for companies. Buying is an out right ownership of a vehicle where you pay all the maintenace and and service costs as you are the owner of the vehicle. Difference between them is a lease you drive a new vehicle and buying is you own an old vehicle.