Best Lease Deals

Leasing a car isn’t a new idea, but more and more shoppers are taking advantage of it. Many consumers can lower their monthly payments and get into a new vehicle with the latest safety and connectivity technologies, plus potentially save on sales taxes.

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Last Updated: Jul 07, 2017

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While we were firing up the barbecues for our Independence Day celebrations, automakers were developing special lease deals to move their remaining 2017 inventory off the lots before the 2018 models arrive this fall. With the entire industry facing slowing sales and several manufacturers seeing major sales slides in June, incentives are coming on strong.

As the market continues its years-long shift from sedans to SUVs, there are great deals to be found in the compact car, midsize car, and luxury small car segments. You can lease midsize sedans from Mazda and Hyundai for less than $200 per month. If you explore our brand deals pages, you’ll find that nearly every midsize car on the list has some kind of buying or leasing special offer this month.

Toyota’s offering a special lease deal on its flagship 2017 Avalon with payments of only $239 per month, and the luxurious Mercedes C-Class can be leased with payments of less than $400 per month. There’s even a lease offer on the recently redesigned Audi Q5 luxury SUV.

If you’re looking for an affordable convertible, you’ll want to consider the 2017 Mini Cooper Convertible because Mini has an excellent deal this month.

Having a good credit score is key to qualifying for a special lease offer. The best offers are usually only available to customers with top-tier credit. Check yours well before your car-leasing search begins so you’ll have time to correct errors or set yourself on the path to improved scores.

Why Lease?

Leasing can save you a tremendous amount of money compared to buying because you only pay for the time you have the vehicle. It's like renting a car for a couple of years and then dropping it back at the dealer when the lease term ends.

When you buy a new vehicle, you have to pay its entire price, and it’s yours when you finish making the payments. With a lease, you’re just paying for the depreciation that’s expected to occur during the length of the contract, plus some interest and fees.

Do you like having the latest vehicle technology, advanced safety gear, and that new car smell? Leasing offers you the chance to have a state-of-the-art ride every few years. Most leases won’t exceed the manufacturer’s new vehicle warranty, so you won’t have to worry about unexpected repair bills attacking your finances.

Depending on where you live, you may save a significant amount of sales tax. Often, lessees only have to pay tax on the amount due at signing and your monthly payments. Be sure to talk to your tax advisor first, however, as some places require you to pay sales tax on the entire price of the vehicle.

We offer several resources to help you learn about leasing and get an affordable lease deal. Before you head to the dealer, you can learn about leasing versus buying, how leasing a vehicle works, and how to avoid the most common leasing mistakes.

Is That Lease a Good Deal?

Don’t let flashy sales promotions convince you that every lease deal will save you money. With a bit of math, you can compare one offer with another by figuring out the total cost of the lease. You should do the math yourself, as many dealers throw in a bunch of other numbers to create confusion and lead you to the package that’s best for them, not you. Dealers usually try to sell you on the lowest monthly cost they can quote, but that’s the worst way to lease (or buy) a car.

To determine the total cost, multiply the monthly payment by one less than the total number of months in the lease term, then add the amount that's due at signing (including any taxes and fees). The first payment is usually included in the amount due at signing – that’s why you subtract one from the lease term in the formula above.

Let’s say you’re leasing a new pickup truck for three years with payments of $300 per month and $2,000 due at signing. The total cost of the lease would be $12,500. That’s 35 times the $300 monthly payment plus the $2,000 due upfront. Remember to include any taxes and fees in your math.

Every lease contract spells out the maximum number of miles that are allowed before excess mileage charges start to accrue. Before you decide to lease, you'll want to have a good idea of how many miles you typically drive in a year. Once you go over the number of miles allowed by the contract, excess mileage fees can get quite expensive in a hurry.

Unsure if leasing is right for you? Our guide to leasing versus buying shows you the benefits of each. If you find the right cash back or financing offer, you might be able to buy a new or certified pre-owned car with payments that aren’t much more than a lease, and you'll own the vehicle when the payments end. We track hundreds of the best offers on our new car deals and used car deals pages.

If you didn’t see your dream car on the list of vehicles above, look at our AcuraBMWCadillacMercedes-Benz, PorscheAudi, ToyotaNissanFordHondaChevroletHyundaiKia, MazdaJeepDodgeRamBuickGMC, SubaruLexus, and Volkswagen deals pages to see brand-specific lease specials.

While we strive to keep the deals listed here up to date, these lease offers can change and may not be available in all areas. The best source of information on current lease deals is your local dealer. Use the form next to the car you’re interested in below to contact a dealership near you.

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