We lease our cars as we both work for our own businesses. Which makes leasing the best option finance and tax-wise. But a business leasing package is complicated to explain (it's pre-tax dollars for one, so the interest well and truly comes out to less than the (approx 30%) tax I would pay the ATO paying myself the salary to then buy a car, ITMS).

Previously, we have owned our cars outright, I once paid off a personal loan for a car when I was young (better interest than a car finance package).