+1 for "If it flies, floats or fornicates, always rent it - it’s cheaper in the long run."
i.e. you lease a car, you end up paying 10K in payments. But if you finance it, you end up paying 25K in payments, and get 15K back when you sell it privately. And the number is even less if you trade in, which you might consider since selling a car is a pain in the ass(unless you are sell it way below market value)
But when you lease, you don't have to worry about selling it, you just turn it in. And even if you ever end up going over the limit, pretty much every dealer will forget the overcharges/damages, if you lease another car from them.
And even if you plan to keep the car, leasing is the best option, since essential it's a 3-4 year test drive. You pretty much get to find out EVERYTHING about the car, before you decide to keep it long term. And in the end, you will be able to see what the market is like...in many cases when you lease a popular car that keeps it's value, the buyout is less than the current market value of the car.
My priority is to make my first $1M, then worry about the model year of my car.
As someone who remembers their first high-school vehicle too well, there's value in a level of reliability.
Seriously, it's not always just about spending the least.
Personally I'm a fan of finding a good deal on a used car, buying it, driving it for 1-2 years, and then selling it for the same amount I paid for it. Pretty much the only cost this way is a) insurance(which you can save a few extra bucks by getting only liability) b) gas c) 2-3 oil changes.
And since you are owning the car for a short period, you won't get hit by any costly repairs.
It's another case of doing more work to make more money. The question should be, "Is doing a better investment of time and effort than simply buying a newer car and keeping it longer?"
That job, it does reasonably well.
If you want to drive a new car every three years, then I'm guessing leasing could be better or similar than buying if you finance close to 100%. Whether you should change cars every three years if you can't afford the downpayment is another question.
Lots and lots of people do this for a living; they're called "wholesalers". You can pretty easily get a wholesale dealer license (go to your local DMV if you're in the United States). Once you have this, it will allow you access to dealer-only auto auctions, and the ability to sell more than 3-4 cars a year (I forget what the law is).
Granted, this is a considerable amount of work, with a pretty high risk, but it can be really profitable if you know what you're doing.