Quite true. The depreciation is a huge factor, as well as the projected market demand at the time of lease end.

IMO, unless you own a business or can write off the lease payments as a cost, then leasing may be a costly financial event. ie: 1000+(765x36) = $28540 +

So that at the end of 36 months you have no equity and possibly an additional cost if your miles are over 36,000 or there is "wear".

But that's just me...