I realize all of that. You're assuming I'm going to find a new car that I think is worth leasing and driving (and I can afford), and then that the lease will work out such that the depreciation will be greater than what i would have paid over the course of the lease. Plus, how much do you think an E30 M3 or an ITR is going to depreciate? The market value for a clean 97 ITR is ~$15k, and that's not getting any lower. Similar situation with the M3.

The only advantage I see with leasing most of the time is the broken-up tax benefit. Cars depreciate less as they get older, esp these. If I sell down the road, I'll get a good chunk of the money back. Can't same the same at the end of the lease.

Not being arrogant, just rationalizing things from a different angle.