I have lived in Canada for a bit and will try and throw some light on this.
The Canadian market works just like the American one. Just like here, buying almost new saves you money over buying new. Japanese luxury cars (Lexus, Acura, Infiniti) are in high demand and have fairly high resale values.
Leasing cars is a very good option and you can exit a lease or transfer it with little penalty. Lease terms tend to be simpler than here. However, Jap luxury cars are in demand, lease rates arent as lucrative for Jap luxury cars as they are for jap or american cars. European cars are the cream of the pile and very expensive to lease with little chance of finding a bargain. For the best leasing deals, look at American cars.
However my experince is from 98-99 and things may have changed since.