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As for equity/ownership that's always part of the analysis you have to make when deciding to buy or lease. Here's the analysis I would use [probably differs for other people depending on your circumstances]:
Benefits of lease that applies to my personal situation:
since I do onsite consulting, travel to meet with clients--I can
deduct the following: initial downpayment, monthly lease payments, maintenance expenses, car washes, car upgrades, I can trade in for newer model after lease expires. Depending on the deal I have with the dealer, my initial down payment can "roll over" to new lease.
Downside: mileage limitations [this is huge if you only have one car--the leased car], you don't own the car after the lease period [depending on the car, this may not be an issue if you factor in depreciation... this IS an issue if the car retains its value over a long period of time--japanese cars or luxury cars]
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"If you hate a person, you hate something in him that is part of yourself. What isn't part of ourselves doesn't disturb us." -- Herman Hesse
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