Leasing is often touted as the option that gives consumers "more car for less money," but that might not be true.

The CRMA Money Lab compared financing and leasing over five years for two vehicles - the best-selling 2008 Honda Accord EX family sedan at $24,495 which can be leased at $239 month, and the 2008 Lexus ES 350 at $38,405 that can be leased for $429 a month. The results—financing the Honda would cost $4,597 less over five years than closed-end leasing for the same model and the Lexus would cost $9,245 less over the same period. Both cars were compared against a typical five-year loan at 6.99 percent.

If car shoppers look merely at the monthly costs, leasing seems like the better deal for both cars. But the advantage changes over time, according to CRMA's analysis for the costs after 1, 2, 3, 4, and 5 years. Also, CRMA's calculations don't take into account end-of-lease costs, such as excess mileage charges.