Well, you get about half that through the IRS, which you can't get if lease it. Is the CVRP rebate included in your $16.5k figure? Of course, no one knows what the resale value of these cars will be in 3 years, so it's dubious to say that it's too expensive to buy, since there's no way to estimate total cost of ownership over 3 years for a proper lease vs. buy comparison.
Len, half is still half. There's a 2500 TFS incentive to buy. There's a 17500 TFS incentive to lease. Even with the 7500 state tax $, it's still $7500 cheaper to lease. If you really want to buy, lease it first, then pay the darn thing off on the first payment statement.
$350 a month to lease is truly a heck of a deal. What will the buy at end of lease cost be ? Also, do you happen to know if this car is eligible for accelerated depreciation for business use ?