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If you're currently leasing a large truck or SUV, it may still be the best investment you've made recently — despite the pain at the pumps you may be feeling.

Depreciation is by far the biggest new-vehicle cost over its first few years. So especially if you leased from the Detroit Three, chances are good that the interest rate was subsidized — subvented in industry jargon — plus you're paying for much less depreciation than has actually occurred with these vehicles.

So unless you give the car company a lovely present by buying the vehicle back at the end of the lease — likely at a pre-determined price higher than its actual market worth —you've now made money by essentially shorting your truck purchase.

But the party's officially over; General Motors and Chrysler North American operations are officially out of the subsidized leasing business. Leading the charge away from leasing is Cerberus Capital Management — which owns Chrysler outright and controls GM's former finance arm with a 51 per cent stake in GMAC, with GM holding the remaining 49 per cent.

This is bound to have a major effect on the Canadian new-vehicle marketplace; so far this year, GM and Chrysler combined have made up more than a third of all new-vehicle transactions in the country.

The abrupt suspension of GMAC-subsidized leases for GM Canada vehicles could seriously hurt sales for the market's largest player. Between 30 to 40 per cent of its sales as of the end of July were leases, according to recent statements made by GM Canada officials.

These numbers can be closer to 50 per cent for some models, such as the popular 2009 Pontiac Vibe. The Power Information Network reported last week the percentage of leases on the Vibe was much higher than other vehicles in the segment — likely thanks to subsidized lease rates or payments on this six-month-old fuel efficient hatchback. What isn't known is what proportion of GM lease customers were lured to buy GM by such loaded lease deals, and how many were likely to buy GM regardless.

For the consumer, they'll still almost certainly receive a leasing option at Chrysler and GM dealers, though at much higher rates, and perhaps through either a bank or another lending company. Chrysler and GM are suddenly preaching the low monthly payments afforded by six- to eight-year financing terms that approximate monthly payments for three- or four-year leases. This would move the residual risk back on to consumers instead of the finance arms. So now more than ever, it's a good practice to know exactly how much interest any loan will cost you in total, lease or finance.

2009 911 Targa sees the light

All the open-air benefits of the convertible without the cab's sealed-in feeling when it's just a touch too cold to go top down.

That's always been the clear-roofed Porsche 911 Targa's calling card, and such it is again with the 2009 Targa S and 4S, set to go on sale in September, along with revised versions of Porsche's 911 coupe and droptop models.

All of them will now feature one of two direct-injection, flat-six-cylinder engines, in 3.6-litres and 3.8-litre sizes for S and 4S models, respectively. Power will increase to 345 and 385 hp for each, while those who don't want a clutch pedal can opt for an all-new seven-speed dual-clutch gearbox that Porsche dubs its PDK transmission, which replaces the Tiptronic S automatic option.

Porsche promises fuel economy improvements with this transmission and engine, but doesn't specify fuel economy figures for it. The Targa's new starting price is $111,600, while it's $124,500 for the Targa 4S.

The Targa's gee-whiz feature is undoubtedly its magic roof, which features a slightly tinted but perfectly transparent opening from its steeply sloped rear tailgate to the leading edge of the car's front windshield, allowing a flood of natural light inside the car, even in the dead of winter.

A power-operated sunshade is standard so that all that natural light doesn't make your sun visors useless, or overtax the car's air conditioning system in the summer.

Where the Targa really sees the light is when the entire "targa" section above the passengers can be slid back under the similarly transparent rear window, providing a gaping maw of almost 1.5 metres of open air above the front seats.

Nissan hammers back at leadfooted drivers

In the continual battle for increased fuel economy, Nissan has just announced a gas pedal that pushes back at leadfooted drivers, promising a five- to 10-per-cent increase in fuel economy.

According to a Reuters report, the company's "ECO pedal" would use sensors to monitor when the driver puts "excess pressure" on the throttle, then would "counteract with the pedal push-back control mechanism," the auto maker said. The system will reportedly be available in 2009, but the company didn't announce in which markets and on which vehicles.

Although the system can be turned off, it sounds like a feature that may leave drivers pining for the much-maligned first-to-fourth skip-shift feature of the Corvette.

Fuel-sippers tour Ontario and Quebec

Both Toyota and the Smart division of Mercedes-Benz will be out expounding the virtues of their fuel-sipping vehicles at various hot spots this month, offering test drives away from their respective showrooms.

Toyota will bring its hybrid models to malls in the GTA and Ottawa in a tour designed to educate buyers about the advanced powertrains, as well as its most fuel-efficient regular cars, the Yaris and Corolla. It's on now at Yorkdale shopping mall, before heading to Vaughan, Ottawa and then Mississauga's Square One; dates can be found at www.hybridsynergydrive.ca. No Lexus hybrids will be part of the tour

Smart brought its three-cylinder gasoline runabout to birthday festivities for Quebec City last weekend, and will head to Montreal this weekend (Aug. 9-10) at the Montreal FestiBlues site, and then will be at the Ottawa Super EX at Lansdowne Park Aug. 14-17.