At least in the UK leasing seems like a real waste of money? So that ford focus is £300/month for 4 years of use, plus an initial fee of £2k. So after 4 years

At least in the UK leasing seems like a real waste of money? So that ford focus is £300/month for 4 years of use, plus an initial fee of £2k. So after 4 years you've spent £16k and then have no car. Why not spend that 16k on a used car? My last car I bought used was £7k and 3 years old and I've had it for 11 years now - it still has about £1k of value left in it, so it so far has cost me about £500-600 a year with only basic maintenance costs. I figure the most leases are taken out by businesses.