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Im a finance director in a very large auto group in colorado. Let me tell you i hated leases to begin with and smart buys are just plan stupid. Big differance between smart lease and smart buy. there is no ballon payment on a smart lease but there is on a smart buy. Heck in colorado we are not allowed to do smart buys( colorado does not allow them).
All of the big three are going away from leasing, even big banks like jp morgan chase bank no longer lease. Gmac does still lease but they just plan suck, just like there rates for purchase( way way higher than any other bank or credit union).
The problem with any type of lease is the residual amount. Why would you buy out a lease? The residuals were so highly incentivized that they are way higher that the market value projected. So if you buy it you pay to much and if you don't the leasing company looses thier shorts at auction. But you can still get a loan from many banks out there and the rates all depend on your personal credit term and loan to value.
Sorry about the long post, just my two cents.
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