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The devil is in the details. If you can predict how many miles you drive, it is essentially an agreement to sell your car at a predetermined price.

The main problem is that when buying a car outright, there are two parameters the dealer can screw you with (price and interest rate.), with leasing, there is a third (sell price).

Indeed, the math falls apart getting 3-4 years in. Makes more sense for people who want to always have a relatively recent model.

> You have to carry insurance on a leased car at your own expense as well.

Not only that, you have to have a plan by insurer that the lessor has chosen (and yes, they do earn money here). With your own property, you can find your own deal.