re: Never leased a car before

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Not many people go into owning a car assuming they will only own for 3 years and stay under a certain amount of miles. That's when leasing can sometimes be better. Comparing outside of those terms and owning blows leasing out of the water. Comparing inside those terms and in some scenarios, leasing will be financially better.

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Correct. If your intent is to own the car, do not lease. Leasing with the plan of buying the car after the lease is over is dumb. Just buy the car.

Leasing for the purpose of having a new car every few years or so can make sense, depending on how well the car leases. Some cars lease well, some don’t.

All cars depreciate, even those that are purchased (shocking concept). The theory of leasing is that you only pay the expected depreciation, plus interest, and the acquisition fee. When someone says a certain car “leases well”, that means the interest is minimal, a good discount off msrp can be achieved, and the residual value (depreciation) is bearable.