Cars: buying vs. leasing

[Kid Afrika]

The Camry I bought over 9 years ago

Pen,

You kept a car for 9 years. What is that car worth now? What was it worth before you drove it off of the lot? What was it worth after you made 4,5, or 6 years of payments on it? What did you end up paying for said car, including interest?

Let's estimate here, and I'm really estimating. I could get exact figures, but let's remember I am black.

'93 Toyota Camry LE - $17,000
Down Payment - $2,000
Financed Amount - $15,000
Length of Loan - $ years
APR - 7%
(Now, I'll readily admit that I don't remember shit from the accounting classes I took, so this part will most likely be wrong, but humor me.)
Interest Paid - $4760
Probable Value of a '93 Camry in '97 - $5999 - $7999

So, in essence, you paid $21,760 for a $17,000 car. And, after your 4 years of payments, you were left with a car worth no more than $8000. And this is a sound investment because?

Where as with a lease, I make payments for 2 or 3 years, and move on to another car.

I can understand people wanting to own something, but if you want to purchase a vehicle, for god's sake, don't buy new, and make the biggest down payment you can to lessen the loan amount, your payment, and the amount of interest you'll be paying.

Thank you, and g'day.