I have always bought my cars with cash and have clearly fallen behind the times with the various options now available. Taking into account depreciation, the increasing complexity of modern cars and the fact that any problems are covered by the warranty, is is wiser to lease a new car rather than buy an older one outright? I am not self-employed so there isn't a tax benefit for me. Any advice would be much appreciated.

It will be interesting to hear people's comments as I am the same. The benefits for company cars are no longer there as they incur tax based on CO2 emissions and initial cost, this wipes out any vat benefits. At least that is the way I understand it.

I leased one once (FR1). Plus side - at the end of 3 years the surrender value was less than the cost of purchasing the vehicle, so I was able to hand the car back and walk away. Also, I was able to buy a new car without the bother of selling the old one (couldn't part exchange as I was buying an old Disco from a friend).
Minus side - I had to spend a bit repairing a couple of dents, and also had to pay extra for exceeding the annual mileage allowance.
No real feelings for or against, but 4 cars down the line I haven't done it again.
It seems that nowadays the dealers will give you a big discount for taking their finance, but I'm sure you could find that discount anyway if paying cash.
Recent case study: my wife has just bought an Astra estate. On a £22000 car the dealer immediately offered £3000 off if she took out finance, plus another £2000 as she is a civil servant! But then he got sidetracked and found her one six months old with 900miles on the clock for £12500. No doubt there's some logic there somewhere...  Ex AA Series III LWB Safari - Gone
300TDi Disco (bought new - terrible car) sent back after 18 months
Freelander 1 Estate - leased, given back at end of lease
200TDi Disco (bought from a mate with 100,000 on the clock) - Gone
Disco 2 TD5 - sold and exported to France
FR2 TD4 GS - Gone
FR2 SD4 HSE - Now changed for a DS
New model ex-demo Evoque S 180 in white
Unable to order a new DS, so gave up. Now have a Volvo S90 Recharge.

Many thanks for that Past Master. I sat doing the sums against a 1 year old car. The initial depreciation is eye watering on everything I have looked at and would easily cover a full drive-line rebuild on most Land Rovers. I haven't ever bought a car new-I tend to buy them at the 6-12 month mark. I have been lucky with the FL2s' I have owned-nothing has gone wrong with them and at 9YO, my current one is the oldest car I have had in 20 years. It has been totally reliable in the 15 months I have had it and, in truth, I can't find anything newer that I want for my budget (up to £25k). I want a petrol next so my short-list is Audi Q3/Allroad, BMW 328i xdrive and Range Rover Evoque-all nice cars but none really offer me exactly what I want! A final spec FL2 with the Evoque engine would be perfect!!