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Car leasing instead of buying?

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My old banger failed its mot, im getting pretty fed up with it off the road half the time and costing me a fortune in repairs.
I tried to apply for a loan to buy a car online, but was rejected. My credit report shows 3 late payments in total in 2006/07.
I was wary about getting finance for a car that could break down anyway and thought car leasing might be the way to go, to get a reliable car for an affordable monthly payment.
Does anyone know anything about leasing, cost, companies any kind of experience.
It would just be a smallish car.
Any info would be appreciated.

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