I recently switched from leasing vehicles for my company to purschasing them. When all is done and said, there is virtually no difference in the final cost between leasing and purchasing. Vehicles are a pure expense and there's no way to get a round it. We would generally get 2 year / 75K-95K mile leases. The reason for the switch was I got tired of being locked into a vehicle. Purchasing gives you the option of getting rid of a vehicle you either don't like or don't have a need for any longer.
As pointed out, the Section 179 accelerated depreciation schedule for purchased vehicles over 6000GVW can be attractive. It was, however, changed this year to where only 25% of the value can be depreciated unless the GVW is over 14,000 pounds.
Also, some people have a misconception about leasing. They're bothered by the notion of driving "someone else's car". Well, unless you pay cash during a purchase, guess what? You're driving the bank's car, not your's.
