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For non-business use, I really don't think there's much difference financially. Even for business use, I'm not sure it matters much. I just began switching from leasing my employees vehicles to purchasing them. Maybe one of the financial guys will chime in here .....
From a reality point of view, the drawback to leasing is it leaves you with few options. You're commited to the end of the lease term, whether you like the vehicle or not - I highly recommend a 2-year lease max!! Mileage limits are sort of an issue. Although, many inaccurately describe the $.15 or $.20 per mile fee over the specified mileage limit as "a mileage penalty". It's not. If you owned the same vehicle, each of those miles over the 'limit' would in theory reduce the value of the vehicle by a like amount anyway.
The good part about a lease is you usually get in for $0 down and just start making the payments instead of tying up your cash for a downpayment. At the end of the lease? Just drop the vehicle off at the dealer and walk away - pretty simple.
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