I disagree about it being stupid... IF you do your homework and it makes sense.
No it's still stupid. Buying a new car is stupid... you're throwing away thousands and thousands of dollars the second you drive it off of the lot.
And you're signing yourself up to forever have a car payment - so yes it's stupid.
Car payments should not be normal...
I'll give you the benefit of the doubt because you are making a lot of assumptions.
To wit:
For my situation, for a 36 month time period, including fuel, insurance, maintenance, and depreciation:
2002 Focus ZX5 with 115k miles = $275/mo
2012 Focus S with 12k miles = $266/mo
So making the argument that everyone should drive a 10 year old $3k car is specious. It's the total cost of ownership that needs calculated, which is based on your individual circumstance and needs. It would actually cost me less to make payments on the 2012 Focus vs. living with my paid for 2002 Focus (why I chose not to is for other reasons).
Of course, this particular thread was about buying vs. leasing, both new cars. I can't say either one is smart or stupid - it depends on your situation. If you are a traveling salesman, putting 50k a year on cars, and your livelyhood and job stability depend on having an ultrareliable car, buying a beater that needs frequent repairs is stepping over dollars to pick up pennies. On the other hand, if you drive rarely, like once a week to go wherever, a new car in the garage (bought or leased) is a waste.
My wife has to drive 40 miles one way to work and her job is somewhat critical in terms of getting to work safely without car issues. So I put her in a newer car. My job can be done from home and worst case scenario she can drop me off on the way to work, so I drive an older car (still reliable). This wouldn't work for other people. Other people can take the bus. Other people have to buy a newer car because of their particular circumstances.
Additionally if you are not car savvy and no amount of effort will make you car savvy, you will likely get raked over the coals when you go for repairs. Trust me, older cars will bleed you dry if the above is the case and you are particularly unlucky. Again, not saying a new car is the solution but I always get this little facial tic when folks on here claim that a 3 cylinder Metro is God's divine invention and anyone who doesn't drive one, with 250k miles on it, is a fool (and should take the bus).
So in closing, buy an old car, buy a new car, take the bus, etc. The only thing that matters is you make a rational decision primarily driven by recognization of circumstances and needs (instead of wants). I usually get the mudflaps and floormats for a little extra though :)