Like I said - read the small print. All sellers - esp. dealers and lease merchants smile like cheshire cats when you're going in and frown like quasimodo looking for a date on your way out.
I leased mine new in Nov 2006 and am "keeping it".
If I had had cash it would have cost me about 8.5K, lease-purchase about 10K, loan about 9.5K and by leasing it has cost me 11K (all Vat included). (Balloon was £2500 last Nov.)
For me I was in a rush; my car had been written off for which I received £500! I needed to work, had little capital but it would have cleaned me out and I have a business, house and family to maintain financially.
It worked - along with advice from this site, wfp and shaping up the £175 a month was easily paid for out of extra earnings and in the year before the balloon was due I put extra away for it. Still had to pull a grand of savings across tho'.
Now my secondary rental is £175 per year. It's small beer to keep the van and if I sell I have to give 2.5% or nothing if I scrap.
Now it's on 25Kmiles and reliable - why get rid? I'll just keep it til it costs me more money than it's worth and put £100 a month away (Started end January) in a fund for another van. I hope to keep this one at least two more years and possibly another four or five - than if all goes to plan I'll have £100 a month x 24 or 48 or 60 or what ever. Then depending on tax rules I'll prolly buy with a deposit and bank loan.
With leasing - every penny is claimable against tax and if I sell (ok value now will be what? 3 - 4K? Perhaps 1K when I do sell) no tax disadvantage.
What will I do next time? If still not Vat reg I will prolly buy brand new (with a wedge of £££s in my hand) and run it for ten years.
HINDSIGHT? I would not lease - but I would buy new with finance if necessary - but I wasn't conned because I knew what I was doing and went into it with my eyes open and only myself to take responsibility for it - not my wife, not the leasing co, not Vansdirect, not satan, not Tosh nor Arthur Daley ...
...Now family car etc - I never pay more than 2K and never will until I'm an old(er) fart and me and Mrs. Gold are zimmering about with only one vehicle to rely on.