Is it better to lease or purchase my car?

[Ellis Hammond]

This was a convo my family had around the dinner table last night as some are leasing and some are buying their car. I was wondering what the BP community thought about leasing a car. 

Lets make the assumption that you want a new car, can afford a $150-$300 payment and would plan to pay off your car in 10 years or less if you decided to finance to purchase.