Fresh from a year of rebounding sales, automobile sellers are still offering some of the best leasing deals buyer have seen in years. Leasing a vehicle is certainly a different idea for some folks who have previously only ever paid for their vehicles in full. Leasing has a lot of great points including, getting a new vehicle at the end of the deal rather than a used car they then have to sell off.
January had more than its fair share of great leasing deals on new cars. Honda and BMW both had zero down payment deals which were offered to entice customers to come back into showrooms and find the car of their dreams.
The Toyota Scion brand has always led the way in lowering the down payment for new car leases, usually requiring less than $1,000 and that certainly isn’t going to change any time soon. With a new Cadillac SRX lease you can expect to put just $1,929 down, which is what you might have expected to put down on a compact or midsize car just a few years ago.
A lower down payment means a higher monthly payment, sure, but with these incredibly low down payments, lessees are coming out hundreds of dollars ahead even with the slightly higher monthly payments.
Lease rates on compact cars usually come with payments in the range of $150-$190. For a midsize car a lessee can expect to pay about $200 a month, which makes the market very competitive.
If you are in the market to lease a 2011 Nissan Sentra, a very popular compact car with exquisite styling and excellent mileage, you can get a deal now for just $139 a month. That’s down from last summer when the rate was just $149 a month. The lease term is 39 months, which is an extra three months of driving than the standard lease. The 2011 Nissan Sentra has a 2.0 liter four cylinder engine which generates a whoppping 140 horsepower. Or get the Sentra with the 2.5 liter engine which generates a further 177 or even 200 horsepower. All of this and the spacious compact still gets an awe-inspiring 24 miles per gallon in the city and 31 miles per gallon on the highway.
One of the factors forcing these great lease rates has much to do with the strength in the used car resale market. As long as used cars continue to sell strong, dealers will have a good reason to keep lease prices and deals as attractive as possible.
So far, excellent lease deals continue to inspire consumers to look at deals on such popular vehicles as the Subaru Impreza, Honda Civic, Kia Sportage, MINI Cooper, Mitsubishi Outlander, Acura MDX, Hyundai Sonata and the very popular Honda Accord.
As long as consumers seem interested in leasing vehicles at a great rate you can expect the great rates to continue. You can expect the lease market to become even more competitive later this year when the Volkswagon Passat enters the fray and everyone looks to up the ante.