I never understood the appeal of a lease personally.
I loved leasing. I don't lease now due to driving too many miles. Reasons I liked it:
1. Car payment was typically a good $100/mo less than buying. And rather than being stuck with a 5-year-old car after doing a 60-month loan, you get a new car 3 years in.
2. On a typical 3-year lease, never had anything more major than oil changes, tire rotations, and air filter changes. No brake replacement, tire replacement, etc. needed. Maintenance is basically a non-issue.
3. In my situation, no garage & not a hands-on car guy. Leasing is basically the equivalent to renting a car for a few years.
4. I personally didn't mind the monthly payment, for several reasons. It allowed me to have a reliable car even when I was working for wages in retail ($13/day out of my paycheck towards an average $250/mo lease). In 10 years of leasing, that monthly payment was the most expensive thing I ever had to pay on a car (I never put any money down). As mentioned, it's less money than buying. Partly, it's a budgeting security thing...I always know exactly how much I'll be paying for my car and maintenance everything month.
5. I'm personally not hung up on ownership or customization. If you have a need to own something, then by all means buy the car. Or if you really like to customize your ride, awesome.
6. You get to try out a new car every few years, which is fun. My wife also leased for the last ten years. We've driven Saturn, VW, Kia, and Honda to name a few.
Leasing is not for everyone, and has it's fair share of negative points. It all depends on what your personal goals are. Having an endless monthly payment can sound pretty bad, but it's not like I'm ever going to be sitting around not working for the next forty years, so I'll always have an income stream as long as I'm willing & able to work. In exchange for the payment, I get a nice, new, reliable, low-maintenance car with safety features that improve every few years, and also lets me adjust the car to my needs for that period of time.
The strongest argument for economics is to buy a low-mileage, well-kept late model car because you almost always get something that is pretty reliable. So again, it all boils down to your preferences & what your goals are. Leasing is not for everybody, but it does fit some people's situations pretty well.