Leasing is great for young established people who are just looking for a nice car that they are not planning to keep for long. It is much cheaper to lease a car, enjoy the luxury and get rid of it to lease another new car on your mind. However, I dont think this is feasible for a person married with a family who is looking for a car to keep for the longterm.
Leasing makes vehicles more affordable, it lowers the initial barriers to acquire a vehicle. At the same time at the end of the lease term the lessee can either walk away or purchase or continue leasing the same vehicle.
If its a low priced vehicle leasing makes that vehicle affordable to a wider potential customer base as an example. Leasing is not a financial alternative for everyone, but in many instances it opens new possibilities for a wider customer base.
The financial institution leasing the vehicle will do a credit check on the prospective lessee, which is similar to financing.