Leasing can make sense on a new car depending on the rate and the terms for people who trade every few years. (The vast majority of new car customers). You have to first accept that driving a brand new car is by far the most expensive way to get around, no matter how you slice it. The warrantee savings are donkey piss, even on a troublesome car. You could buy a transmission for a Ferrari Modena for less than the depreciation on any new luxury car over 3 years. We are talking tens of thousands of dollars.
That said, if you only keep a car three years and then trade it in for wholesale value, buying (financing) costs+ depreciation can be more than the total of the lease payments + upfront $$. Or not. You have to bring a calculator and pencil+ paper. I used to really help people understand this stuff when I sold cars, but most sales people won't. FWIW, the majority of new cars are leased, not bought, for the last 10+ years. The more expensive the car, the higher the percentage of leases. BMWs and MB are probably 90% lease, minimum. NOBODY that rich is dumb enough to buy one of those things, the depreciation is insane. YMMV, but not really.
