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Originally Posted by maleficent
Leasing is really only a good idea if you don't put a lot of miles on a car, and you want to get a new car every few years. Leasing is very similar to renting a car for 3 years, at the end of the lease, it's not yours, you either have to make the balloon payment, to buy the car outright (generally several thousand dollars), or return the car, and expect to pay if you have gone over the mileage (usually very low per year) plus if there's any damage to the car.
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You can get a lease with no mileage restrictions. You'll have higher payments but it is possible. Another thing with leases to consider is that although the payments are much lower, they also assume high down payments at the start.
I say go for a loan. If you make your payments on time its a great way to build credit. This thread has a lot of advice on how to deal with the scumbags at the dealership:
http://www.tfproject.org/tfp/showthread.php?t=63147