Do You Buy Or Lease?S

A good buddy of ours always leases. While I've never seen his bank statement, I know what he does for a living (think Hollywood) and I know he could afford to buy. But he doesn't. His reasoning? He likes cars so much that via leasing, he can get a brand new car every two years. To him, it's like a cell phone plan. In our minds however, we love the idea owning the car. True, our credit rating is so jacked we'll never own anything bigger, but if we wanted to we could mod the hell out of our car. Or, drive 25,000 miles in a year without fear of financial reprisal. Still, in less than six months our car will be two-years old, with three more years left to pay. And that new STI is looking mighty sweet. Your thoughts?