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Best Lease Deals
Today’s new cars are loaded with more safety, infotainment, and connectivity technology than ever. They also carry price tags that ...Read More
Deals by Manufacturer
Best Lease Deals This Month
Deals are samples from the manufacturer. Availability may vary based on location. Contact your dealer for details and qualification. All prices exclude taxes, licensing, tags and other dealer fees.
- $419 per month for 36 months with $3,995 due at signing (Expires: 03/01/21)
- $339 per month for 36 months with $3,429 due at signing (Expires: 03/01/21)
- $310 per month for 36 months with zero due at signing (Expires: 03/01/21)
- $159 per month for 36 months with $2,399 due at signing (Expires: 03/01/21)
- $189 per month for 39 months with $4,749 due at signing (Northeast)
$257 per month for 36 months with $3,995 due at signing (Mid-Atlantic, Midwest, South Central, Southwest, Northwest)
$279 per month for 36 months with $2,999 due at signing (Southeast) (Expires: 03/01/21)
- $203 per month for 36 months with $2,499 due at signing (Northeast, Southeast, South Central)
$223 per month for 36 months with $2,499 due at signing (Mid-Atlantic, Midwest, Northwest)
$179 per month for 36 months with $2,499 due at signing (Southwest) (Expires: 03/01/21)
- $479 per month for 36 months with $4,373 due at signing (Expires: 03/01/21)
- $209 per month for 36 months with $2,999 due at signing (two-door)
$239 per month for 36 months with $2,999 due at signing (four-door) (Expires: 03/01/21)
- $189 per month for 36 months with $3,689 due at signing (Northeast)
$229 per month for 36 months with $2,959 due at signing (Mid-Atlantic, Midwest, Southwest)
$199 per month for 36 months with $3,599 due at signing (Southeast)
$229 per month for 36 months with $3,349 due at signing (South Central)
$239 per month for 36 months with $2,969 due at signing (Northwest) (Expires: 03/01/21)
- $249 per month for 36 months with $2,499 due at signing (Expires: 03/01/21)
- $129 per month for 39 months with $2,999 due at signing on LE (Northeast)
$149 per month for 39 months with $2,999 due at signing on LE (Mid-Atlantic)
$179 per month for 36 months with $3,178 due at signing on LE (Southeast)
$179 per month for 39 months with $1,699 due at signing on SE (Midwest)
$159 per month for 39 months with $2,999 due at signing on LE (South Central)
$189 per month for 36 months with $1,999 due at signing on LE (Southwest, Northwest) (Expires: 03/01/21)
- $149 per month for 39 months with $3,499 due at signing (Northeast)
$199 per month for 39 months with $2,699 due at signing (Mid-Atlantic, Southeast)
$199 per month for 39 months with $2,499 due at signing (Midwest, South Central) (Expires: 03/01/21)
More on Best Lease Deals
Today’s new cars are loaded with more safety, infotainment, and connectivity technology than ever. They also carry price tags that are higher than ever, creating monthly loan payments that are hard for many to afford. However, there is another way to get a car, without the steep price of a car loan.
Car leasing is like renting a car instead of buying it. When you buy, you have to pay for the car’s entire value. When you lease, you only pay for the amount of depreciation that’s expected to occur during the term of the lease contract, plus taxes and fees. The leasing company owns the car, and you just pay to use it. Lease contracts typically run two to three years, but they can be a little shorter or longer.
Because you’re only paying for a portion of a vehicle’s value, lease payments are normally lower than car loan payments. They can be even lower if you can take advantage of a lease deal that’s subsidized by an automaker. Lease deals are offered when carmakers need to improve the pace of sales or make room on their dealers’ lots for new or updated models. A lease deal lowers the amount you have to pay up front, your monthly payment, or sometimes both.
Car leasing is a relatively new thing for mainstream consumers. It started as a way for businesses and luxury car buyers to get cars, but it has grown to span the entire new-car marketplace. Though the idea of car leasing is simple, it can be daunting for shoppers who have never leased a car before. In fact, car leasing comes with its own terminology, which is different than the language of car buying.
To guide you through the process of car leasing, the U.S. News Best Cars team has built an extensive library of information. Our guides to the leasing process, making the leasing versus buying decision, and avoiding costly leasing errors will give you the confidence you need to get a great deal.
As the coronavirus pandemic continues to rage in the U.S. and around the world, it’s critical you protect yourself from COVID-19 when buying or leasing a vehicle. The U.S. News Best Price Program will do more than just connect you with local dealers offering pre-negotiated prices. It will help you find dealerships with contactless sales processes and home delivery options.
What Are the Best Lease Deals This February?
Car dealerships can be lonely places in February. In much of the country, the weather is terrible, and the last thing people want to do is tromp around car lots. Many family budgets are still recovering from holiday spending and credit-card bills. It’s a time when dealers will work to get every sale, and that’s good news for shoppers who are armed with the information they need to get a great deal.
Lease shoppers with $200-per-month budgets have plenty of options to choose from this month. In most areas of the country, you can lease a 2021 Toyota Corolla, 2021 Hyundai Venue, or 2021 Volkswagen Jetta for less than $200 per month. In at least one region, a 2021 Jeep Wrangler Unlimited will fit into a $200-per-month budget. For just a little more, you can drive a 2021 Mazda3 hatchback, 2021 Mini Cooper, or 2021 Nissan Altima.
Honda is offering a zero down lease deal on the 2021 Honda Accord sedan. You’ll have to pay some taxes and fees up front, but there’s no additional down payment due at signing.
Looking for the performance and opulence of a luxury SUV? There are deals this month on the 2021 Mercedes-Benz GLC and 2020 Jaguar F-Pace. With an updated model on the way, Genesis is trying to move the last of the 2021 Genesis G70 sedans off the lots with an attractive lease deal.
You’ll need to check the fine print of any lease offer to ensure that you qualify for the deal. Many are limited to specific areas and to customers with top-notch credit scores. Our Best Price Program can connect you with local dealers who can help you identify the best deals you can take advantage of.
Unlike most new-car purchase deals, lease incentives are almost always limited to a particular trim level or models with specific option packages. Generally, you want to negotiate the price of the vehicle when you lease. When you get a lease deal, though, you shouldn't be surprised to see the MSRP listed as the price. However, a "cap cost reduction" or low interest rate reduces the monthly payments, the amount due at signing (or a combination of both).
How Do You Lease a Car?
An essential step in getting an awesome lease deal is finding the right car. No matter how good the deal might seem, it's not a great deal unless it's a vehicle that meets your needs. Our new car rankings and reviews can help you see through the clutter and find the perfect ride.
Before you even think about leasing, it’s imperative that you have a reasonable estimate of your annual mileage. Leases have strict mileage caps, and if you exceed the allowable mileage, your inexpensive deal can become costly. Likewise, if you dramatically overestimate your mileage, you'll be paying for miles that you won’t use.
Most lease contracts last two or three years, though you can negotiate contracts with different terms. Lease deals, on the other hand, usually have lengths that are strictly defined in the offer terms. When the lease term ends, you just drop the car off at the dealership, pay any final fees, and walk away (or lease another vehicle.)
Lease costs include the depreciation that is predicted to occur during the time that you're driving the car, plus fees and interest (called the "money factor" in the leasing world). Those costs are divided between a down payment you make when the lease starts and equal monthly payments that you make over the rest of the lease term. The amount of depreciation you have to pay for is the difference between the car’s price and its residual value, which is an expert prediction of the car's value at the end of the lease. While the price of the vehicle is generally negotiable (unless it's a lease deal), the residual value rarely is.
It’s easier to understand with an example. We’ll look at a $36,000 sports car to illustrate the numbers. If you can negotiate its price down to $33,000, that becomes its “capitalized cost” in the language of leasing. We’ll say that it has a residual value of $23,000 at the end of the three-year lease term, so you’ll be responsible for paying the $10,000 of depreciation, plus interest and fees. If you pay $2,000 at signing, the remaining $8,000 plus interest and fees will be divided into a series of monthly payments you’ll make over the next three years.
When you purchase a new car, you’re generally required to pay sales tax on the whole cost of the vehicle. However, leasing is not quite as simple. Different jurisdictions have different rules about what you have to pay. In some places, you pay tax on the down payment and monthly payments. In others, you’re required to pay tax on the entire value of the vehicle. Questions about your tax liability are best answered by a tax professional who is familiar with your financial circumstances, and not the dealer’s salesperson.
What Else Do You Need to Know About Leasing?
Vehicle owners don’t have to worry about how many miles they drive their car, though excessive mileage may reduce its value when the time comes to sell it. Lease customers, on the other hand, need to be much more disciplined, so they don’t go over the specific mileage limit spelled out in their contract. If you go over, you’ll have to pay an excess mileage fee for every mile that you’ve exceeded the limit. Those costs typically range from 15 to 50 cents and are specified in the lease paperwork.
You also don't want to be well under the mileage cap. The vehicle's residual value is partly based on the number of miles that are expected on the car at the end of the lease. If you only drive 25,000 miles on a contract that allows 36,000 miles, you've essentially paid for 11,000 miles that you didn't use.
Bottom line: you need to know how much you drive before you think about leasing a vehicle.
When you buy a car, it’s like a blank palette that you can customize to your heart’s content. When you lease, you’re responsible for returning the car in the condition you leased it. You'll have to pay to return it to its original condition if you've altered anything. If you fail to maintain a purchased car, it's your problem. Fail to maintain or beat up your leased car, and you'll pay for the excess wear and tear when you return the vehicle to the dealer.
It is critical that you read the lease paperwork before you sign, as every lease contract has slightly different terms and conditions. While some will include periodic maintenance, others don’t. When you turn the car in, you’ll need to provide proof that the work has been done.
Most lease agreements will require customers to carry gap insurance to cover their loss if the car is stolen or totaled. Even if the contract doesn’t, it’s foolish to lease a car without it. What you need to know – and what the dealer won’t tell you – is that you don’t have to buy the coverage from them. Before you purchase it, you’ll want to talk to your auto insurer, bank, or credit union to see if they offer the coverage for less than the cost at the dealer.
One of the best benefits of a lease is that you should not have to worry about paying for major repairs. Since the length of the majority of leases falls within most new car warranties, the manufacturer should cover any mechanical failures. However, lessees are responsible for paying for their own fuel and insurance during the contract.
When the lease is up, you’ll simply take the car back to the dealer you leased it from or another franchised dealer from the same brand if that is allowed by your contract. You will be required to pay for any damage to the car, plus any excess wear and mileage charges. Many leases also call for a disposition fee that you’ll be required to pay when you drop the car off.
It’s not unusual to want to buy your vehicle at the end of the lease, but you’ll want to compare its price to similar models available in your market to make sure it’s a good deal. You should not expect to get any money back at the end of the lease, as you have no ownership interest.
Leasing and Credit
The leasing world favors consumers with good credit. While you can lease if you have bad credit, it's more challenging and likely more costly. The best lease deals from manufacturers raise the bar even higher, requiring top-notch credit scores and stable employment histories to qualify for the special offers.
To ensure that you can get the lease that you want, it is a good idea to check your credit report well ahead of starting your car leasing adventure. That way you’ll have time to correct any errors and work to improve areas of weakness.
How Do I Know If It Is a Deal?
Not every lease that is advertised is a great deal. Fortunately, it's pretty easy to compare lease offers by looking at their total cost. It's best if you do the math yourself so that you understand all of the numbers in the contract and ensure that extra fees and expensive add-ons aren’t finding their way into the deal.
Comparing leases based on their monthly payments can lead you to a horrible deal. You need instead to look at the total cost of the lease, including the amount due at signing plus the overall cost of the monthly payments to find the best deal.
To find that total lease cost, multiply the monthly payment by one less than the number of months in the lease term (the first payment is usually included in the amount you pay when you start the lease). Add that total to the amount you have to pay up front (including any fees), to determine the total cost of the lease.
When you know the total cost of a lease, it’s easy to compare it to other lease offers. Let’s illustrate using a couple of this February’s three-year midsize sedan lease deals. There is a zero down lease deal on the 2021 Honda Accord with payments of $310 per month. In some areas, there’s a deal on the 2021 Nissan Altima with monthly payments of $189 and $3,689 due at signing.
We’ll look at the Accord deal first. Since there’s nothing due at signing, simply multiply its $310 payment by 35 (one less than the 36-month term), and you’ll find the total cost of the lease is $10,850.
The Altima lease costs $189 multiplied by 35, plus the $3,689 due upfront. It works out to $10,304.
You’ll pay about $550 less for the Altima deal over the course of the lease. Of course, with all leases you’ll have some upfront costs, including taxes and registration fees, which are not included in our comparison.
Another way to compare leases is to convert the money factor to more familiar annual interest rates. To do so, multiply the money factor by 2,400. If you see a money factor of .00175, for example, multiply it by 2,400 and you’ll see that the interest rate is 4.2 percent. On lease deals, the money factor is fixed, but it is negotiable on other leases.
Though leasing usually is less expensive in the short term than buying, you should also explore our new car deals page before you make a final decision of whether to lease or buy. A special cash back or financing offer may bring the price of the two options closer than you might think. If you’re willing to accept technology that’s just a couple of years old, you might consider a certified preowned car. You can explore manufacturer-subsidized offers on certified used vehicles on our used car deals page.
If you didn’t see your dream car in the list of vehicles above, look at our Acura, BMW, Cadillac, Mercedes-Benz, Porsche, Audi, Toyota, Nissan, Ford, Honda, Chevrolet, Hyundai, Kia, Mazda, Jeep, Dodge, Ram, Buick, GMC, Subaru, Lexus, 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 link next to the vehicle you’re interested in to contact a dealership near you.
Best Lease Deals:
- 2020 Jaguar F-Pace: $419 per month
- 2021 Genesis G70: $339 per month
- 2021 Honda Accord: $310 per month
- 2021 Hyundai Venue: $159 per month
- 2021 Jeep Wrangler: $189 per month
- 2021 Mazda Mazda3: $203 per month
- 2021 Mercedes-Benz GLC-Class: $479 per month
- 2021 MINI Cooper: $209 per month
- 2021 Nissan Altima: $189 per month
- 2021 Subaru Outback: $249 per month
- 2021 Toyota Corolla: $129 per month
- 2021 Volkswagen Jetta: $149 per month
Car Deals: February 2021
We've compiled a list of the best car deals available in the U.S. for this month.
Save on your monthly payments! Find the best local prices on your next car.
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