Where does money go as almost all new vehicles are leased . Obvious they make super natural profits. Since the absolute owner of vehicle is leasing company they are entitled to depreciate them and hide profits. So Financials do not show actual profits . That's all. They enjoy best of both worlds. Lease Rentals and depreciation provision.
Only loss is when some lessees who default and remove parts of vehicle or hide it from seizure , but money is recoverable from civil action in court from the lessee as well as from guarantors. So leasing companies are extremely profitable if managed properly and selective in granting leases . Most banks have a leasing subsidiary and makes good profits eg Peoples Leasing