A color printer lease will also include regular maintenance, and you get the ability to occasionally trade up to a new model. Avoid leases that lock you into a specific printer for more than a year or two: technology moves quickly, prices fall, and your printing needs may evolve, so the flexibility to change models is important.
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I leased a xerox many years ago when they were too expensive to buy out right. It was done by volumn of printing needs and it worked out that I saved myself some money from out and out purchasing as it was all tax deductible and the price of the rental for the six months I had any of the leased printers (updated regularly) was far less than prurchasing and no ink costs or maintenence issues to have to worry over.