Yep. But the point was that IF you look after it WELL and don't cover it in crap and scratch it, service it well, and wax and polish it, with care 15 years later it should look like and go like new. So buying outright makes more financial sense.
Of course if you don't look after it, and it looks used (abused) and has been treated like most people treat cars, then you are better off leasing it, or just throwing your cash down the loo...
Cars are the second biggest value item after a house. And the CORRECT expenditure on a house is money in the bank...
Money spent on cars is just wasted. Its a fight between the finance company (or lease company) and the scrap yard.
Better to treat them well, buy OUTRIIGHT, don't use expensive credit or lease, and buy RIGHT (cheap) and look after them really well!
Or you will be one of the "I cant afford to buy outright", "so I got a loan/lease/other" (poor) poor people!

You become one of those members of the community that are always poor, and cannot get anything without a loan precisely because they pay MORE for everything and are keeping half the workforce in a job... Being poor, is what makes you poor but only if you let it...
Here's the thing. The ONE thing on this sight that will REALLY help you more than any other.
It works the other way around.
If you NEVER get credit, never borrow, only buy things you save up for, you
will end up with all the toys and money in the bank. And its much cheaper long term. Your lifestyle changes.
But everyone inc my ex, make as many excuses as they need to, to explain why they "cant" do that!
Usually because they don't have the money. And that's WHY they don't!
You really should make the effort. Its hard, but pays off later on in way bigger fashion than you are ever imagining. Its all about right or wrong choices.
I refuse to have a phone contract, (use the cheapest pay as you go on the planet - GIFF-GAFF all online) about £20 a YEAR!
Will not have insurance for anything, mugs game. Other than a car. Because the law makes me.
Refuse to have satellite TV, TV licence, cable, never mind film or sport channels, (all available FOC online anyway if you know how). Don't ever pay anyone to do what I can do myself, and I do everything...
NEVER use loans or credit, because that's only affordable if you have more money than you need. And only have a mortgage where it PAYS to do so. Never rent. A black hole, to throw your money in.
Always buy the best gear. EG cameras. Why buy 4 or 5 inferior ones and then buy the one you really wanted anyway later on? That way you pay twice for everything. Do it right, plan, save, invest in things that pay back later. Don't for eg waste money adapting an unsuitable house. MOVE! Before you come to that conclusion anyway later on.
Analyse every penny you spend. Normally its either not required or can be done better, or incorporated into a bigger life plan. (Pay once!). I don't mean buy cheaper but PLAN for the future! Olde page here - badly written but you get the idea.
http://www.wheelchairdriver.com/rules-to-live-by.htm