Same here, for me it was way more costly to lease and buy out rather than simply buying from the outset. The lease rate for an M3 in Canada in 2008 was over 8%... I bought my car cash, so I condidered the "cost" of money at 2% in my calculations.
As others have said, you need to do the math to figure the best option. Every case is different, but usually leasing is more expensive.