Car Leasing vs Car Purchase and Opportunity Cost

[Devang Patel]

When it comes to new car transactions, I know the conventional wisdom is to always purchase over leasing to save money in long run.  Most say its better to buy a used car instead of purchasing new or leasing.  But all I can think of is instead of spending that 20-30k on a Honda or Toyota, I could use those funds to put a down payment on an appreciating, cash flowing property.  The car depreciates so fast and is in no shape or form an investment.  Does it not make more sense to pay a monthly lease payment and invest instead in a rental property?  Am I not thinking of this correctly?