Freddie,

Agree with your calculation. But for used car maintainance cost is higher.

For lease, I have following in my mind

1) I dont have to find buyer at end of one year.
2) I have option of buying same car at the end of lease or just return it.

Now for offer I have got one offer.

2006 Nissan sentra with 50000 km with maintainance package and fully loaded. I have to pay 350$ per month incl taxes upto Feb 2011 as lease. Remaining km are 64000. I can buy it for 6500$ at the end of lease term.

http://www.edmunds.com/nissan/sentra/2006/index.html

This is current price. No kms on website. Please check the prices.

Your lease for 12 months is (may be 10) $4200. Current price is between 6000 - 10,000 Take away lease and at the end you will have the car for 1800- 5800.

Got to test drive and view to compare. The onus is on you.

There are many more to see if you want to explore.

Freddie.