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Best Lease Deals
While you may have sweet dreams of getting behind the wheel of a new car before the holidays, the prices ...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.
- $359 per month for 39 months with $2,858 due at signing for Stelvio AWD (Northeast)
$359 per month for 39 months with $3,858 due at signing for Stelvio Ti (Mid-Atlantic)
$369 per month for 39 months with $4,783 due at signing for Stelvio RWD (Southeast, Southwest, South Central, Northwest)
$369 per month for 39 months with $3,368 due at signing for Stelvio AWD (Midwest) (Expires: 01/04/21)
- $259 per month for 36 months with $5,029 due at signing
$259 per month for 36 months with $3,529 due at signing for current GM and non-GM lessees (Expires: 01/04/21)
- $299 per month for 39 months with $3,279 due at signing (Northeast)
$329 per month for 39 months with $4,249 due at signing (Mid-Atlantic, Southeast, South Central, Southwest, Northwest)
$319 per month for 39 months with $3,499 due at signing (Midwest) (Expires: 01/04/21)
- $210 per month for 36 months with zero due at signing (Expires: 01/04/21)
- $129 per month for 36 months with $3,997 due at signing (Northeast,
$239 per month for 36 months with $2,699 due at signing (Mid-Atlantic, Southeast, Midwest, South Central, Southwest, Northwest) (Expires: 01/04/21)
- $129 per month for 27 months with $3,249 due at signing (Northeast)
$169 per month for 39 months with $3,399 due at signing (Mid-Atlantic)
$192 per month for 39 months with $3,799 due at signing (Southeast, South Central, Southwest, Northwest)
$149 per month for 39 months with $3,499 due at signing (Midwest) (Expires: 01/04/21)
- $169 per month for 36 months with $3,869 due at signing (Northeast)
$199 per month for 36 months with $3,498 due at signing (Midwest)
$229 per month for 36 months with $2,429 due at signing (Southwest, Northwest)
$209 per month for 36 months with $3,119 due at signing (Mid-Atlantic)
$179 per month for 36 months with $3,799 due at signing (Southeast)
$199 per month for 36 months with $3,898 due at signing (South Central) (Expires: 01/04/21)
- $229 per month for 39 months with zero due at signing (Northeast)
$239 per month for 39 months with zero due at signing (Southwest)
$259 per month for 39 months with zero due at signing (Northwest) (Expires: 01/04/21)
- $279 per month for 36 months with $5,049 due at signing
$279 per month for 36 months with $3,549 due at signing for current GM and non-GM lessees (Expires: 01/04/21)
- $239 per month for 39 months with $699 due at signing for current GM and non-GM lessees (Northeast, Mid-Atlantic, Southwest) (Expires: 01/04/21)
- $195 per month for 36 months with $2,999 due at signing (Northeast, South Central, Southwest)
$215 per month for 36 months with $2,999 due at signing (Mid-Atlantic, Southeast, Northwest)
$199 per month for 36 months with $2,983 due at signing (Midwest) (Expires: 01/04/21)
- $259 per month for 36 months with $2,499 due at signing (Expires: 01/04/21)
- $119 per month for 39 months with $2,999 due at signing (Northeast)
$159 per month for 39 months with $2,999 due at signing (Mid-Atlantic)
$209 per month for 36 months with $3,208 due at signing (Southeast)
$199 per month for 39 months with $1,599 due at signing (Midwest)
$169 per month for 39 months with $2,999 due at signing (South Central)
$189 per month for 39 months with $1,999 due at signing (Southwest, Northwest) (Expires: 01/04/21)
More on Best Lease Deals
While you may have sweet dreams of getting behind the wheel of a new car before the holidays, the prices can keep you awake at night. There is a way to get a new vehicle with all of the latest safety and technology for far less than the cost of buying one.
Car leasing allows you to get a new car about as often as some people get new smartphones, without the high price of paying for the vehicle’s entire value. It's more like renting than buying, and it typically comes with monthly payments that are more affordable than purchasing the same car. Though leasing isn't the right path for everyone, it can be an excellent way for the right shopper to get new wheels.
Why is it cheaper each month? It's because you only have to pay for the depreciation expected to occur during the term of the lease, plus interest and fees. When you buy a car, you have to pay the vehicle's full price (and likely take out a loan to do so). At the end of a lease, you just return the car to the dealer you got it from or another of the same brand's dealerships.
When you take advantage of a manufacturer-subsidized lease deal, leasing is even more affordable. A lease incentive can lower each monthly payment's size, the amount you have to pay when you start the contract, or sometimes both. They're offered by automakers when vehicles aren't selling quickly enough, or they need to make room on dealer lots for new models.
Usually, about three in 10 cars leaving dealer lots are leased rather than purchased. That number has dipped somewhat during the coronavirus pandemic, leading several automakers to offer great deals to get customers into new leases. Once the domain of businesses and luxury car shoppers, you can now lease nearly any vehicle you can buy, including cars, SUVs, minivans, and pickups.
The concept of leasing is simple, but the process can be complicated. You only pay the difference between the initial price of the vehicle (its capitalized cost) and its expected value at the end of the lease (its residual value), plus interest and fees. Because the process can be complex, you’ll want to arm yourself with information before you head to the dealership seeking to lease a new vehicle.
The first step, of course, is to find the right vehicle to lease. Our new car rankings and reviews will help you find the best vehicle to meet your needs and budget. You’ll then need to negotiate your lease and sign the paperwork. Our consumer advice articles can help you every step of the way, including deciding whether to buy or lease, avoiding costly leasing mistakes, and getting the right auto insurance. Our new car leasing guide is an in-depth resource on how the process works.
Like everything else in today's world, the COVID-19 pandemic has affected how you buy a car. It's simply not a good idea to sit in a dealership showroom for hours, working out your lease details and getting the paperwork signed. The U.S. News Best Price Program can connect you with dealers with comprehensive online sales processes and home delivery options. In some cases, you can avoid the showroom altogether.
Because a lease is a contract, you should not lease a car unless you’re on solid financial footing. If the pandemic has led to instability in your employment, now is not the right time to lock yourself into a car lease. Breaking a lease can damage your credit for years.
What Are the Best Lease Deals This December?
Many of our holiday driving adventures are on hold this year. But there's still inclement weather on the way, and having a reliable car is at the top of many shoppers' wish lists. As we move into 2021, having an affordable alternative to mass transit is on many commuters' minds.
Fortunately, December is one of the best times of the year to lease a new car. Automakers, dealers, and salespeople have monthly, quarterly, and yearly sales goals to meet. They all converge at the end of December. Add in the need to get the last of the 2020s out of dealer showrooms, and you can see why the end of the year is a great time to get a new car.
If your goal is to find a lease with an affordable monthly payment, you’re in luck this December with deals on the 2021 Nissan Altima, 2021 Chevrolet Equinox, and 2021 Mazda CX-30. All have payments around $225 or less per month and reasonable amounts due upfront.
Are you looking to save some cash during the holidays? There are zero-down lease deals available on the 2020 Honda Fit and 2020 Volkswagen Jetta. Of course, you still have to pay for registration and some fees, but you don't have to make a sizeable down payment toward the lease.
With wintery weather on the way, you may be thinking about leasing a vehicle with all-wheel drive. This month, there are affordable deals on an all-wheel-drive model of the 2020 Jeep Renegade and the 2021 Subaru Outback, which comes standard with all-wheel drive.
Many lease offers are only available in specific areas of the country and are limited to certain models with specific trim levels and option packages. You’ll likely have to find a vehicle that is eligible for the lease offer in a dealer inventory, without the option of special ordering one from the factory. Unlike most leases, prices and payments with automaker-subsidized lease deals are fixed, with little room to negotiate anything other than maybe some dealer fees. The best lease deals are only offered to consumers with excellent credit scores.
How Do You Lease a Car?
Leasing a car is similar to buying a car in many ways. You'll want to do the research to see whether the vehicle you choose fits your needs and budget. Our new car rankings will help you find the right car to match with your great lease deal. A deal isn’t a great deal unless you find a vehicle that will give you years of trouble-free, enjoyable driving.
There are many differences between buying and leasing, however. The biggest is that when you lease a car, you don’t actually own it. You’re essentially renting it from the leasing company that holds its title. Unlike a car that you own, a leased car will come with a strict mileage limit. Exceeding the mileage cap will cost you a fee for every mile you drive. Depending on the type of car you lease, excess mileage fees will range from about 15 to 50 cents per mile. That can quickly add up to an unwelcome surprise at the end of your lease. Before you consider leasing, you'll want to have a reasonable estimate of how many miles you expect to drive per year.
Some lease disclosures will list an annual mileage limit. The lessor won’t check the mileage each year. Instead, they'll check at the end of the lease to ensure that you haven't gone over the total miles allowed. For example, if your three-year lease allows 12,000 miles per year, you'll get dinged if the odometer shows more than 36,000 miles at the end of the contract.
Unless you are getting an automaker-subsidized lease deal, you will want to negotiate the price of the vehicle (its capitalized cost), the money factor, the mileage cap, and the length of the contract. If you're OK with the restrictive terms of a special lease deal, the potential savings can be huge compared to a typical lease.
When you lease a car, you pay for the amount of depreciation that is expected to occur during the lease term. When the lease is up, you return the vehicle to the dealer you originated the contract with. In some cases, you can return the vehicle to another franchised new-car dealer that carries the same brand of vehicle. The car will be checked out by the dealer, and fees will be assessed for excess wear or mileage. If you paid a security deposit at the beginning of the lease, those costs will be deducted from it.
To find the amount of depreciation you'll be paying for, you subtract the expected value of the vehicle at the end of the lease (called its "residual value") from the price of the car, or its capitalized cost. The residual value is an outside expert’s opinion of what the vehicle will be worth a few years down the road. It is typically not negotiable. The depreciation, plus interest and fees, is divided between an initial payment due when you sign the lease and a series of equal monthly payments.
Here’s an example: You’ve found the perfect full-size pickup, with an MSRP of $45,000. At the end of three years, it is expected to be worth $28,000, which is its residual value. To lease the vehicle, you’ll have to pay $17,000, plus interest and fees. If the lease is structured so that you pay $2,000 at signing, the remaining $15,000 (plus interest and fees, of course) will be spread across a series of equal monthly payments.
As we mentioned earlier, with leasing, the interest rate you pay on the depreciation is called the money factor. You can multiply it by 2,400 to compare it to an interest rate, or if you have an interest rate, you can convert it to a money factor by dividing it by 2,400. For example, if the lease documents show a money factor of .0025, you can multiply it by 2,400 and see that it is equivalent to a 6 percent interest rate.
Another significant cost in both car buying and leasing is sales tax. Depending on where you live, leasing customers can save big when it comes to sales tax. Though you’ll want to talk to a tax professional who knows your specific financial situation to find out the rules in your area, in many places, leasing customers only have to pay tax on the amount due at signing and their monthly payments. When you purchase a car, you have to pay tax on the whole cost of the car, minus any trade-in value in most states.
What Else Do You Need to Know About Leasing?
If you like to customize your vehicle with earth-shaking audio gear, fancy tires and wheels, or off-road gear, leasing is probably not your best option. While you might think those expensive add-ons build value, leased cars need to be returned to the dealer at the end of the contract just as they left the showroom, less an acceptable level of wear and tear. You will have to pay to have any customized equipment removed or be prepared to pay the dealer to do so.
Leasing companies demand that you maintain leased vehicles precisely as the owners manual says you should. You’ll need to retain every receipt for service as proof that all scheduled maintenance has been performed. Some leases will cover periodic maintenance during the course of the contract, but most will require you to have it performed at your own expense.
It doesn't matter how many lease contracts you have signed, it is critical to read the paperwork. Every lease is different, and you'll want to make sure that the deal you agreed to matches the paperwork. Look closely at the capitalized cost, the length of the lease, the monthly payment, and the mileage cap, so there aren’t any surprises after you sign. Sometimes costly add-ons and fees find their way into the final paperwork. It’s important you understand and agree to everything in the contract before it gets your signature. If there are any errors or blank spaces in the paperwork, make sure they are corrected or completed before you sign. If you get pressure to sign a document with errors or with entries you don’t understand, you should consider it a red flag and step back from the deal.
With most lease contracts, you will be required to carry gap insurance to protect the leasing company if your vehicle is stolen or totaled. Even if the agreement doesn't require it, gap insurance is still good for lease customers to have. If your car is deemed a total loss in an accident or it gets stolen, your auto insurance company will only pay the leasing company the market value of the vehicle. Without gap insurance, you would be liable to pay for the difference in the lease contract’s buyout cost and the market value paid by the insurer, which could be substantial. Though the dealer might pressure you to buy the coverage from them, you should comparison shop with your auto insurance company and financial institution before you make a decision on where to buy. Not every gap insurance policy is the same, so be sure to compare coverages between your different options.
You can learn more about the coverage by reading our article on gap insurance. Note that any auto insurance coverage required by your leasing company is likely different than the coverage required by states. Explore our auto insurance center to learn more about the type and level of coverages you should buy.
A top benefit of leasing is your vehicle will likely be covered by a bumper-to-bumper and powertrain warranty for the length of the lease contract. If something breaks, it will be up to the automaker to fix it in most cases, and you should have no out-of-pocket expense. You'll want to budget, though, for costs such as insurance, registration, taxes, and fuel.
At lease end, you can take the vehicle back to the dealership you got it from or to another of the same automaker’s franchised new-car dealerships if it’s allowed by the contract. That’s a great benefit if you have moved since you signed the lease. The dealer will inspect the car and assess any damage, total up any excess mileage costs, and collect lease-end fees. Many contracts have a disposition fee which goes toward refurbishing the vehicle for resale. In some cases, the fee is waived if you opt to buy the car.
Before you decide you want to buy the vehicle at lease end, do a survey of the market to see what similar models are selling for. If they're selling for a lot more than the buyout cost of your car, you can sell your leased car, pay off the lease, and have a few dollars in your pocket. If other vehicles are selling for significantly less than your lease buyout cost, return yours to the dealer and buy one of the others instead.
Leasing and Credit
Having a good credit score is required with leasing, and having great credit allows you to get the best deals. Automakers generally offer lease deals only to consumers with top-notch credit histories. In addition, you'll have to show a stable work history, which helps ensure the leasing company that you will make all of your payments throughout the term of the lease. A car lease is a contract, and you can face serious financial consequences if you need to get out of a lease early.
Considering the importance of a good credit score, it’s a good idea to check your credit score and the credit reports behind them well in advance of your car-leasing adventure. It can take some time to get errors corrected and improve your score. The last place you want to find out you have problems with your credit is in the dealership’s financing office, where you may not feel you have a choice but to take a lousy lease or financing offer.
How Do I Know If It Is a Deal?
Seeing a lease advertised is no guarantee that it is a great deal. While you need to find a lease that fits into your monthly budget, focusing on the payment can lead to a costly leasing mistake that can haunt you for the entire length of the lease. Instead, you need to look at the entire cost of the contract, including the total of all the payments plus the amount due at signing.
Thankfully, doing the math to determine a lease’s total cost is about as easy as overindulging on holiday treats. A side benefit is that comparing the total cost of different leases is a great way to make sure you’re getting the best deal. It's essential to do the math yourself and don't rely on the salesperson so that you understand all of the numbers in the offer. They'll want to keep you laser-focused on the monthly payment, while the total cost is the number you want to be looking at. Leaving the math to them can also allow for costly add-ons to find their way into the deal.
Here's the simple way to determine a lease's total cost: Multiply the monthly payment amount by one less than the number of months in the lease contract, then add the amount you have to pay at signing, including fees. You subtract one from the number of payments because the first month's payment is generally included in the amount due at signing.
Here’s an example using two of the lease deals available this December.
In some parts of the country, you can lease a 2021 Toyota Corolla Hybrid with payments of just $119 per month for 39 months but a substantial $2,999 due at signing. As part of their Sign then Drive event, Volkswagen is offering a lease deal on the 2020 Volkswagen Jetta. It has payments of $229 per month for 39 months with zero due at signing.
Let’s do the math to see which offer is the better deal. To find the cost of the Corolla Hybrid lease, you multiply the $119 payment by 38 (remember, one less than the number of months in the contract), then add the $2,999 you pay upfront. The total cost comes out to $7,521.
The cost of the Jetta deal is $229 multiplied by 38, with nothing to add as a down payment. It works out to $8,702. Even though there's zero due at signing, the Jetta lease costs almost $1,200 more over the contract's 39 months. It's essential to run the numbers for every lease offer you're considering. You can't assume that the lease with the lower payments or smaller amount due upfront is always the cheapest deal.
Though leasing is usually less expensive than buying in the short term, you’ll also have a car payment every month you have a leased car. With buying, your car payments stop once the loan is paid off. If you’re unsure which option is best for you, take a look at our article on leasing versus buying. Before you commit to leasing solely on monthly cost, take a look at our car deals page. Some generous car deals with 0% interest rates or massive amounts of cash back can narrow the price gap between buying and leasing.
If your primary goal with a lease is to keep your payment low, while getting a reliable car with warranty coverage, you should also consider purchasing a certified pre-owned vehicle (CPO car). Certified used cars have low miles, no accident, and have been meticulously inspected so they can be offered with warranty coverage. CPO cars typically have higher prices than similar non-certified vehicles because of the warranty coverage and other perks. Many automakers offer financing deals on their CPO cars, and you'll find them listed 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 Alfa Romeo Stelvio: $359 per month
- 2020 Cadillac XT4: $259 per month
- 2020 Dodge Charger: $299 per month
- 2020 Honda Fit: $210 per month
- 2020 Hyundai Sonata Hybrid: $129 per month
- 2020 Jeep Renegade: $129 per month
- 2020 Nissan Altima: $169 per month
- 2020 Volkswagen Jetta: $229 per month
- 2021 Cadillac XT4: $279 per month
- 2021 Chevrolet Equinox: $239 per month
- 2021 Mazda CX-30: $195 per month
- 2021 Subaru Outback: $259 per month
- 2021 Toyota Corolla Hybrid: $119 per month
Car Deals: December 2020
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.