The $199 Lease Deals for May 2014

Edmunds.com

The $199 Lease Deals for May 2014

A complete list of all the vehicles you can lease in August for only $199 a month.

Read the full story here

zimtheinvader

for comparison, and common sense, you really have to divide the down payment by the months of the lease and then add it to the monthly lease price. If you put enough down on any car you can get a $199 a month lease.

bassrockerx

i read the whole list and i think the standouts are the toyota camry hybrid for 199 with only 1800 due at signing and the mazda 3 sedan for a very low $149 a month(wow!) also the fiat 500 sport for only 200 dollars a month is not that bad a deal either conidering the depretiation on these cars are pretty high so after 3 years are up you might actually come out ahead, especially if 3 years down the road fiat is not doing so well you might even get a very nice purchase price on the car should you chose to keep it when the lease is up. another standout is the chevy cruze lt with 0 down and the equinox and CR-V on this list as well.

stingray73

It's ridiculous to compare lease payments when you have to put money down. What is the purpose of the article? You can lease a Lamborghini for $199/mo. if you put $198,000 down! What a waste of time this article is.

mohora

thank you for posting this list. im coming out of a 2yr lease and this helps me sort through my choices. i can choose and then go to dealers with my homework in hand. many times in the past i have found that some dealers try to add on prep cost to the deal

adantium

Great job John!
Is it possible for you to make a similar list for the Canadian market? I bet many of us regular visitors would really appreciate it.

bwnorthernva

What is a good price reduction on a 2015 Toyota Highlander AWD Platinum Limited, MSRP $45,583? If I leased for 24 or 36 months, what are the residuals and money factors Toyota would use for 15,000 per year?

daveinolywa

my LEAF was zero drive off (actually was less than that since I got a check for $47 back from the dealer for registration fees returns) and $245.75 a month for 15,000 miles annually on a 3 year lease. with 35 payments, It works out to 19 cents per mile. so maybe not $199 but at least I did not have to pony up a minimum of 2Gs up front

chanelm

I'm looking for dealerships in MA or RI that will accept my leased sedan trade in so I can buy or lease a SUV. We now have twins on the way. Any suggestions anyone? Obviously, I don't want to pay penalties and I know dealerships sometimes have specials to offer. Thanks, C

barryhuber

If a "$199" lease requires cash down, then it is not a $199 lease. This article is misleading. $2000 down means the real lease payment comes out to more like $260 before taxes. Why not just be honest?

redgeminipa

The ONLY time you should put money down on a LEASE is if you are trading in with negative equity, or just covering the first, last and security deposit. YOU ARE RENTING THE VEHICLE on a lease! You may have options to buy out the lease at the end, but you'll end up paying more than a comparable low interest finance, plus you'll end up paying for at least 8 years. If you drive a lot, forget leasing. You'll be in a world of hurt when it's time to turn it in.

Leases can be negotiated, too!

I'm shocked Edmunds, of all sites, isn't smart enough to touch this subject in this article.

mittzombie

If you have to lease a car that you don't deduct from business expenses then you can't afford it.

barryhuber

mittzombie said:

If you have to lease a car that you don't deduct from business expenses then you can't afford it.

Nonsense. Or you desire a car more frequently than most and with the right leases you can pay less than it would cost to buy the car and resell it every 3 years. Like all financial decisions there is some give and take. Logic isn't the only factor driving car ownership/rental. You cannot buy a german car and resell it every 3 years for the same low amount you can lease... especially if you're good at playing with MSDs, rebates, drive events, euro delivery, etc. Simply can't be done.

Is it as prudent as buying an accord and holding for 10 years? No. But if you want a new car frequently, there are ways to save over buying. Just it takes quite a bit more than this lame article can convey.

ses184

Why is the Subaru Impreza listed as $0 down? I see it says regional offer, but I've been checking this list since July of 2014 and it's always listed as 0 down. I've checked Wisconsin, Illinois, Indiana, Michigan, and Ohio, and none of them offer that car for $0 down. Are you only listing the California region?

zimtheinvader

barryhuber said:

mittzombie said:

If you have to lease a car that you don't deduct from business expenses then you can't afford it.

Nonsense. Or you desire a car more frequently than most and with the right leases you can pay less than it would cost to buy the car and resell it every 3 years. Like all financial decisions there is some give and take. Logic isn't the only factor driving car ownership/rental. (snip)

Is it as prudent as buying an accord and holding for 10 years? No. But if you want a new car frequently, there are ways to save over buying. Just it takes quite a bit more than this lame article can convey.

If you've got so much extra cash that buying a new car every 3 years or paying a monthly payment every month for the rest of your life has no affect on retirement or any other part of your financial life then more power to you. Enjoy your fancy new car every 2-3 years, you've earned it.

But, I'd venture a guess that a huge percentage of the people going from one lease to the next and shopping based on passion rather than logic are the same ones complaining that they just can't get ahead; and they are also blaming their financial woes on everyone else. For all those people: quit your whining and make some logic based decisions. Be smart now and then someday maybe you can be the one that buys a new car whenever the whim hits.

erich66

I hear a lot of people of people badmouthing leasing. If you don't want to lease, then don't. But there are great deals to be had if you would like to lease. I just leased a 2015 Mazda 6 Grand Touring. I got $3,400 off the MSRP, i got $3,500 in equity for my (also leased) trade in, because i don't drive very many miles, and i got the $400 disposition fee waived. Final cost is $280/month including taxes, with only the 1st payment down...and my insurance also dropped $25/month. And i will most likely get another $3,500 back in equity when this lease ends.

homerrulez

zimtheinvader said:

for comparison, and common sense, you really have to divide the down payment by the months of the lease and then add it to the monthly lease price. If you put enough down on any car you can get a $199 a month lease.

I agree. you put enough money down, ur now just paying $3 a month. I cant stand these people who say "pay $199 per month....with just 3k due at signing"

its not a 200 per month expense. just another ploy to get people to buy the cars.

patinthecity

zimtheinvader said:

barryhuber said:

mittzombie said:

If you have to lease a car that you don't deduct from business expenses then you can't afford it.

Nonsense. Or you desire a car more frequently than most and with the right leases you can pay less than it would cost to buy the car and resell it every 3 years. Like all financial decisions there is some give and take. Logic isn't the only factor driving car ownership/rental. (snip)

Is it as prudent as buying an accord and holding for 10 years? No. But if you want a new car frequently, there are ways to save over buying. Just it takes quite a bit more than this lame article can convey.

If you've got so much extra cash that buying a new car every 3 years or paying a monthly payment every month for the rest of your life has no affect on retirement or any other part of your financial life then more power to you. Enjoy your fancy new car every 2-3 years, you've earned it.

But, I'd venture a guess that a huge percentage of the people going from one lease to the next and shopping based on passion rather than logic are the same ones complaining that they just can't get ahead; and they are also blaming their financial woes on everyone else. For all those people: quit your whining and make some logic based decisions. Be smart now and then someday maybe you can be the one that buys a new car whenever the whim hits.

LOL, will you even know how to recognize when that time comes to act on that whim? Is there a magical door with the exact date on it that will notify you? What if that day comes and you take advantage of it and then next day you suddenly die?

Seriously, if you can afford to lease and you want to lease in your pre-retirement years, then do so. It's silly to always be in constant planning of your retirement years if you're not being excessive.

zimtheinvader

" if you can afford to lease and you want to lease... "

patinthecity, you just repeated my entire point.

My issue is with hearing endlessly about how the 'American Dream" is unattainable and how 'everyone' is living paycheck to paycheck and can't get ahead and how few are saving anything for retirement. Then those same people go out and lease a car after car or trade in their car every 2 years. If you aren't one of those then I'm not talking to you. If you are betting that 'the next day you suddenly die' for your long term planning then please don't expect society to take care of you when you live until you are 90.
If you don't fit in the above category then as I said before "Enjoy your fancy new car every 2-3 years, you've earned it." Working hard has its rewards and if a new car on a regular basis is the reward you choose then enjoy!

It is the live for today but cry and whine about the results of that choice people that I can't stand. The ones that expect me to subsidize the rest of their expenses because of bad choices.

mittzombie

erich66 said:

I hear a lot of people of people badmouthing leasing. If you don't want to lease, then don't. But there are great deals to be had if you would like to lease. I just leased a 2015 Mazda 6 Grand Touring. I got $3,400 off the MSRP, i got $3,500 in equity for my (also leased) trade in, because i don't drive very many miles, and i got the $400 disposition fee waived. Final cost is $280/month including taxes, with only the 1st payment down...and my insurance also dropped $25/month. And i will most likely get another $3,500 back in equity when this lease ends.

My Honda Accord cost 364 a month for 4 years, then I had no payments for 9 years. I have put less than a grand into the car countin all maint and repairs (not tires). Somehow nothing breaks on this car... I now keep it as my winter car, its value is worth around what I put down. The car has never broken down or refused to start except for once when it needed a battery and I needed a jump which took 5 minutes.

My average cost is 102 buck a month to own not including insurance and gas, and insurance is of course cheap. Edit forgot my aftermarket stereo was $3,000, so add another 17 bucks a month. Put a custom stereo in a lease car and it can cost 100 bucks a month. I would rather drive an Accord with a great stereo than a BMW with Bose... yuck Bose.

I saved so much money I bought my mother a Lexus for her birthday and I will give my car to my nephew next year.

btc909

Manufacture lease deals are generally (not always) MSRP minus your down which equals your monthly payment. Get on Yelp! and find a broker. When you get to month 35 go to CarMax and get a 7 day quote, if you have equity go lease another car. Take the CarMax offer ONLY on a weekday. CarMax has to SPEAK to a person to get the payoff amount. You will be cut a check if you have equity on the spot. You do not pay sales tax on the payoff amount when selling a vehicle to a dealer.

If you can afford it, 'One Pay Leases' have a lower money factor.

zimtheinvader

patinthecity said:

LOL, will you even know how to recognize when that time comes to act on that whim?...

Want the ultimate ability to act on a whim?

mittzombie said:

... then I had no payments for 9 years. ...

Save up 9 years worth of payments and then you can pretty much buy what you want when you want it and even actually own it. Nothing at a dealership beats the feeling of driving off in a car you just paid cash for.

meteor10

no comparison to deals offered in CIS anyway

westa6970

mittzombie said:

erich66 said:

I hear a lot of people of people badmouthing leasing.

My average cost is 102 buck a month to own not including insurance and gas, and insurance is of course cheap. Edit forgot my aftermarket stereo was $3,000, so add another 17 bucks a month. Put a custom stereo in a lease car and it can cost 100 bucks a month. I would rather drive an Accord with a great stereo than a BMW with Bose... yuck Bose.

I saved so much money I bought my mother a Lexus for her birthday and I will give my car to my nephew next year.

BMW is German and doesn't use Bose Crap - BMW Harmon Kardon blows away Bose I've had on RX7, Cadillac, Infinity which are yawn worthy whereas the HK makes you want to remain in the car to listen after you turn off as the HK sound system is that Freakin good!

darthbimmer

I'm surprised the 2015 Chrysler 200 is on your list at $235/month after $2,999 at signing. I understand stretching a little beyond the article's supposed scope of $199/month lease deals to include a borderline deal, but $235/month is over the mark by nearly 20%.

Moreover, paying that much to lease a 200 isn't a deal by any definition. Not when numerous better-reviewed cars in the same category and even in higher categories are available for substantially less.

bc1960

Sometime Edmunds should look for stock photos of the models actually available at these lease terms. Because the 18-19" wheels, moonroofs, and the other less obvious equipment that accompany them are not on the trim level that goes for $199/mo or less.

pearley

darthbimmer, the Chrysler 200 was included because it's directly comparable to many cars on the list and has in previous months been available at the target price. Chrysler's lease are highly regionalized so it may be that the 200 will be available some place at near $199 a month next month. In sum, I included it for those readers who may be tracking the deals themselves.

pearley

bc1960 we would love to have photos of exactly the vehicle listed in each lease. Unfortunately with almost 100 vehicles on the list we can't acquire every vehicle for photography and have to rely on what is supplied to us by the manufacturers. But we always try.

bc1960

@pearley, I do get that, but an occasional reminder of what you actually get vs. what manufacturers advertise ("optional equipment shown") can be instructive.

uplanderguy

Are you SURE about the '16 Malibu? I've yet to even see one at a dealer yet.

uplanderguy

Again, Edmunds is showing the 2016 Malibu on the opening page as one of November's big $199 deals, but I don't believe the car is actually out yet.

egolph

Edmunds, how about using a visualization? try http://the12lab.com/GDCA_Html/Leases2015Nov.html

roadburner

So many cars- and none of them excite me...

nitetalker

How about January 2016?

brian125

Hey guys don't forget on a lease vehicle and putting money down. If your leased vehicle is Totaled or Stolen that 2k or 3k upfront down payment is lost. Roll everything you can into the lease and make 36 equal payments........................ CYA

rj123456

This article is a good summary but of no real value. As many have pointed out any vehicle can be had for $199 with the appropriate down payment. Any lease comparison should be done with $0 down (excluding unavoidable license/.doc/acquisition fees).

g_magnus

To the people who complain about the article's comparisons: Look at the chart at the end of the article. Everything you complain about is covered in the chart. Total cost, cost per mile. This article is updated monthly and I find it very useful. And yes, any car can be leased for $199 down with the appropriate down payment and any car can be leased with $0 down for a higher payment. You can even make a single payment for a 1 to 3 year lease if you want. Options are endless. The article shows what manufacturers are offering with often subsidized leases at a price point for comparison. I really don't see any reason to criticize that.

joe131

Seems like great lease deals are great... at least for the dealer.
Let's say a dealer agrees to a price $1000 lower than MSRP, about a 3.5% discount, then gets the customer to sign over any applicable rebates and incentives to the dealer. If those amount to $2400, then the dealer is getting not only MSRP for his car, but $1400 over MSRP! So then the benevolent dealer "pays" the drive-off fees for the lessee: 1st month payment plus doc fee plus title/license plus $500 cash down payment, maybe a total of $1400. In that case, the dealer just made a full price MSRP deal. And if he buys the nice, late model, low mileage lease return from the finance company or factory rep, the car he just took in on the deal, maybe he can make a nice profit on it too.

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schmegl

Buying a car today is just plain dumb. If you want to drive a 9 year old car, then by all means buy a car. But, to own a car out of warranty nowadays makes no sense at all - one unexpected computer or emissions related repair can cost you thousands of dollars, and you spend those thousands of dollars and you are driving an old out-of-warranty car.

Manufacturers are engaging in financial engineering to push cars out the door, and they are doing do by making it virtually finance-charge free to lease, or rent, a car from them for 24 months. Take them up on the offer and drive a brand new car every two years.

In states where sales tax is only paid on each lease payment, leasing makes even more sense. In Florida, if you buy a car you pay 6%-7% (depending on the county) sales tax on the entire purchase amount. That money is gone, out the door forever. On a lease you only pay sales tax on each lease payment. Since in a 24 months you are probably only paying for around 25% of the vehicle, you are only paying 25% of the sales tax. (In the lease you will pay the difference between your negotiated price of the car and the residual value. For a 24 month lease the residual might be 63% of MSRP, but you will only be paying around 85% of MSRP for the car after you negotiate (including discounts and lease incentives) - which means you will only pay 22% of the value of the car.

The optimum lease is 24 months, 12,000 miles. Turn the car in at the end of the lease and you have zero responsibility for wear and tear items like tires.

If you get your spreadsheet out and actually do the math, you will see that besides being zero risk on out-of-warranty issues, and besides it being great that you are always driving a new car, the all-in costs of leasing are better than buying.

Bottom line - car manufactures are playing games in order to push out cars, and they are doing it with crazy lease deals that make no long term financial sense to their balance sheets, but offer the consumer incredible deals. Take advantage of these crazy deals and lease your car.

jona57

I generally keep my cars for 6+ years. I have both leased and purchased outright (cash) over the years. It all depends on the specific deals, inc TOTAL $$$ of all monthly payments, down payment, and any lease end termination fees. Some leases are good deals even if you may purchase at lease end. These great deals tend to be lower trim levels without many options that a carmaker has built in quantity. Other leases can be very expensive, particularly for cars with lots of options beyond a model's standard equipment. Options tend to depreciate faster that the car itself with std equipment.

ray_rez

i saw plenty of good deals on Edmunds and ask for sth close to these deal from Texas dealers. All gave me the same answer: It is impossible.
I want to lease a car, if I can get a good deal

roadburner

I usually buy CPO BMWs, pay them off in a couple of years, and then drive them of another 7-8 years minimum. I've never figured TCO, but I had an "expert" tell me that leasing a new BMW every three years was the cheapest way to own one. I crunched the numbers and it turns out buying my 2004 X3 and driving it for 12 years was actually $32,000 less expensive than a perpetual $550/month lease- and yes, I did figure in all repair costs as well as actual depreciation.
That said, I do have a 24 month 10K mile lease on a fully optioned 2016 i3 REx, but I'm only paying $105 per month.

Florida954

This article is a big waste of time with low monthly payments and ridiculous down payments. You should always demand $0 down payment for leases. Always demand $0 out of pocket for any lease.

JT48118

Anybody familiar with the 2019 Toyota Corolla Hatchback? Looks small so maybe competing with the Honda HRV?

aajax

I would try to get the down payment rolled into the monthly payment. A big down payment means you pay heavily for terminating the lease early if you want or have to do that for any reason (like the car gets totaled or stolen) . They aren't going to give you back any of that down payment. Shame on Edmunds for recommending leases with down payments. Edmunds started as a consumer web site, but have turned into a marketing site