It's interesting how you didn't compare it to buying a new computer every year, but rather to cars/clothes, i.e., as a form of conspicuous consumption, a way to enhance social status. But this makes sense as this is how Apple markets its products.
My understanding is that you own it once it's paid off. So it's not a lease. It's more like they're loaning you the money and you're paying off the loan.
The prices are not bad either. They seem to range from $32.41/month up to around $46/month for the most expensive possible model, which translates to about $1/day up to $1.40/day. It includes AppleCare as well.
It's actually a pretty good deal. It costs a little bit more than buying the phone outright on day 1, but you get to pay over time.
If you trade in after only one year, you basically paid a dollar a day to rent the phone. But if you had bought one outright and sold it at the end of the year in order to buy the new model, you would not be a whole lot better off -- and you might have had to deal with potentially scummy eBay or Craigslist buyers.
> It costs a little bit more than buying the phone outright on day 1, but you get to pay over time.
And the cost difference is the same as the cost for Apple Care, which is included. So if you were going to sign up for that (which I have to do) you're already breaking even.
Check out the high prices people are paying on eBay for iPhones and iPads with broken screens, or dead batteries, or which are locked (probably because they are stolen).
Compare it with cars clothes and other things