Manveer,

I looked at your blog and your spreadsheet. While I agree that according to your numbers leasing is not cheaper overall than buying, the difference in monthly payments is huge at $930/month. Most people live in their month-to-month cash flow, and to understand why car shoppers often gravitate towards leasing, you need look no further than that reason.

Disclaimer: This is from a guy who buys pre-owned and holds vehicles until donated to a charitable cause.