The 100 Most Affordable Cars to Lease
When you’re shopping for a car lease, the car with the cheapest price tag isn’t always going to be the car that’s cheapest to lease. Consider the cost of the lease, plus the cost to insure your car and to fill it with gas. Here’s a breakdown of the cars that cost the least to lease in 2017.
What Does It Mean To “Lease A Car”?
Leasing a car is a form of car ownership.
A car lease is an agreement between you and a car dealership. You’re given a car for a specific length of time, after which you’re required to bring the car back to the dealership.
While you have a car on lease, it’s yours. You can drive it how you want. Then, when your lease ends, you drive it back to the dealership, as-is.
Leasing a car is similar to having a car on loan, and that’s how car dealerships look at the car lease arrangement. They’re giving you a car to drive with the expectation you’ll bring it back.
By the time you bring the car back, though, the car has lost some value. It’s not worth the same as when your lease started. The dealership can’t sell the car for the same amount of money.
This loss in value to the car is known as depreciation.
Depreciation on a car is what determines its lease payment. So, if a car is expected to lose $10,000 in value over the next three years of you driving it, your three years of lease payments will be roughly equal to the same.
This is why car payments are cheaper when you lease a car as compared to when you buy one. When you lease a car, you’re only paying its depreciation. When you buy a car, you’re paying its whole price.
Car Lease Insurance Rates
Why Would You Lease A Car?
When you’re shopping for a car, you can buy it or lease it.
The decision to buy a car or lease a car is a personal one, but there are some obvious scenarios that can help you decide whether you should lease a car or buy one.
1. You want the latest technology and safety features in your car
For example, if technology and safety features are important to you, you’ll want to consider a lease. This is because, when you have a car on lease, you get to drive it for a few years and then you can get a new one.
Technology and safety upgrades happen quickly in today’s automobiles.
A few years ago, cars rarely included USB ports and collision detection systems; and, camera-assisted parking didn’t exist.
Today, even in entry-level cars, drivers get access to heads-up displays, automatic braking, and blind spot monitoring. In a few years, that feature list will be even longer.
2. You don’t like spending money on random car repairs
Another reason to lease a car is that routine maintenance costs are typically less for drivers who lease as compared to drivers who buy.
This is because leased cars are often bundled with bumper-to-bumper warranty coverage, and free routine maintenance. No matter what goes wrong with your car — from something small like an oil leak to something major like engine failure — the repair costs are covered by your dealership and your lease.
Typically, when you lease a car, the only money you put into a car is for fuel.
3. You like driving the most luxury car you can afford
A third reason to lease a car is because you like to drive “fancy” cars, but don’t like making fancy car payments. Leasing a car gets you the same car for a lot smaller payment as compared to buying.
Remember: when you lease a car, it’s the car’s depreciation you’re paying for — not its sticker price; and, a car will typically lose 50% of its value while it’s on lease.
This means that while you lease a car, your payments will add up to roughly half of the car’s original sticker price. This half-price for a luxury car will usually be less than the full price of a standard car, which is why leasing a car can be cheaper than buying one.
Car Insurance Rates
There are other times when leasing a car makes more sense than buying, too, including:
- When you drive your car primarily for business
- When your commute to work is less than 15 miles each way
- When you can be happy driving most cars, so long as they’re in your budget
When you’re going to lease a car, though, and you want to stay in budget, shop for cars that are cheapest to lease. There are some excellent deals in today’s auto marketplace.
The 100 Cheapest Cars To Lease
There are plenty of reasons to lease a car instead of buying one.
Maybe you like to drive new cars every few years; or, maybe you drive your car for business; or, like to drive an upscale auto. None of these are bad reasons.
Leasing can be smart, financially. And, because leasing a car is entirely about its monthly payment, you can compare the overall monthly cost of leasing a car to help you make the best possible choice.
The Growella “Cheapest Cars To Lease” Methodology
When you lease a car, your car lease payments are based on the car’s depreciation during the term of your lease. However, as the driver of a leased car, car payments aren’t your only out-of-pocket expense. You’re also required to carry auto insurance; and, (most) cars don’t run without gasoline, so gas is required, too.
Using publicly available data and an insurance pricing engine, we assumed the following: a 25-year old female driver in a city setting with no traffic offenses; a thirty-six month auto lease; depreciation equal to the value of a trade-in car in 2017 minus its MSRP of three years ago at 15,000 miles driven per year; gas mileage as provided by auto manufacturers; and, an average gas price as provided by FuelEconomy.gov.
We also assumed that the driver did not shop for new auto insurance during her lease; and, that she did not move, nor incur a traffic offense, nor change her driving habits. We ignored whether the issue of is car insurance cheaper if you lease or buy, because differences vary by state and driver.
1
Mitsubishi Mirage
Estimated Total Monthly Cost: | $219 |
---|---|
Average monthly depreciation: | $105 |
Average monthly auto insurance: | $35 |
Average monthly cost of gas: | $79 |
Read more on the Mitsubishi Mirage at Edmunds.
2
Subaru Outback
Estimated Total Monthly Cost: | $234 |
---|---|
Average monthly depreciation: | $107 |
Average monthly auto insurance: | $34 |
Average monthly cost of gas: | $103 |
Read more on the Subaru Outback at Edmunds.
3
Nissan Versa
Estimated Total Monthly Cost: | $307 |
---|---|
Average monthly depreciation: | $176 |
Average monthly auto insurance: | $38 |
Average monthly cost of gas: | $93 |
Read more on the Nissan Versa at Edmunds.
4
Subaru Impreza
Estimated Total Monthly Cost: | $312 |
---|---|
Average monthly depreciation: | $187 |
Average monthly auto insurance: | $36 |
Average monthly cost of gas: | $89 |
Read more on the Subaru Impreza at Edmunds.
5
Jeep Cherokee
Estimated Total Monthly Cost: | $317 |
---|---|
Average monthly depreciation: | $164 |
Average monthly auto insurance: | $34 |
Average monthly cost of gas: | $117 |
Read more on the Jeep Cherokee at Edmunds.
6
Kia Soul
Estimated Total Monthly Cost: | $334 |
---|---|
Average monthly depreciation: | $192 |
Average monthly auto insurance: | $35 |
Average monthly cost of gas: | $108 |
Read more on the Kia Soul at Edmunds.
7
Hyundai Accent
Estimated Total Monthly Cost: | $337 |
---|---|
Average monthly depreciation: | $208 |
Average monthly auto insurance: | $38 |
Average monthly cost of gas: | $92 |
Read more on the Hyundai Accent at Edmunds.
8
Kia Rio
Estimated Total Monthly Cost: | $337 |
---|---|
Average monthly depreciation: | $209 |
Average monthly auto insurance: | $40 |
Average monthly cost of gas: | $93 |
Read more on the Kia Rio at Edmunds.
9
Toyota Corolla
Estimated Total Monthly Cost: | $344 |
---|---|
Average monthly depreciation: | $214 |
Average monthly auto insurance: | $38 |
Average monthly cost of gas: | $92 |
Read more on the Toyota Corolla at Edmunds.
10
Mazda Mazda3
Estimated Total Monthly Cost: | $354 |
---|---|
Average monthly depreciation: | $226 |
Average monthly auto insurance: | $36 |
Average monthly cost of gas: | $92 |
Read more on the Mazda Mazda3 at Edmunds.
The Rest Of The 100 Cheapest Cars To Lease
Rank | Car Make/Model | Total Monthly Cost |
Average Monthly Depreciation |
Average Monthly Auto Insurance |
Average Monthly Gas Costs |
11 | Honda Civic | $354 | $233 | $38 | $83 |
12 | Toyota Yaris | $356 | $233 | $35 | $89 |
13 | Dodge Dart | $363 | $225 | $38 | $100 |
14 | Nissan Sentra | $363 | $229 | $39 | $95 |
15 | Subaru Forester | $364 | $213 | $34 | $117 |
16 | Nissan Frontier | $364 | $186 | $38 | $139 |
17 | Subaru Legacy | $366 | $231 | $36 | $100 |
18 | Hyundai Veloster | $372 | $242 | $35 | $95 |
19 | Jeep Patriot | $374 | $226 | $37 | $111 |
20 | Kia Sedona | $377 | $201 | $35 | $140 |
21 | Hyundai Elantra | $379 | $246 | $38 | $95 |
22 | Ford Fiesta | $383 | $247 | $36 | $100 |
23 | VW Jetta | $384 | $263 | $34 | $87 |
24 | Kia Forte | $386 | $246 | $40 | $100 |
25 | Hyundai Tucson | $391 | $246 | $34 | $111 |
26 | Kia Sportage | $395 | $243 | $35 | $117 |
27 | Chevrolet Cruze | $399 | $274 | $38 | $88 |
28 | Nissan Juke | $409 | $249 | $39 | $121 |
29 | Mazda CX-5 | $410 | $276 | $37 | $97 |
30 | Toyota Prius | $415 | $324 | $36 | $56 |
31 | Honda CR-V | $417 | $284 | $33 | $100 |
32 | Mini Cooper Cooper | $417 | $277 | $33 | $106 |
33 | GMC Sierra | $421 | $243 | $38 | $140 |
34 | Ford Focus | $426 | $293 | $33 | $100 |
35 | Nissan Rogue | $428 | $292 | $36 | $100 |
36 | Jeep Compass | $428 | $280 | $37 | $111 |
37 | Honda Accord | $429 | $286 | $35 | $108 |
38 | Toyota Rav4 | $430 | $283 | $36 | $111 |
39 | Hyundai Santa Fe | $432 | $257 | $37 | $137 |
40 | Mini Cooper Countryman | $433 | $279 | $34 | $120 |
41 | Mitsubishi Lancer | $433 | $289 | $41 | $103 |
42 | Hyundai Sonata | $434 | $297 | $40 | $97 |
43 | Honda CR-Z | $435 | $316 | $36 | $83 |
44 | Mitsubishi Outlander Sport | $439 | $289 | $38 | $113 |
45 | Kia Cadenza | $442 | $279 | $38 | $125 |
46 | RAM 1500 | $445 | $263 | $40 | $142 |
47 | Ford Mustang | $450 | $281 | $35 | $133 |
48 | Dodge Grand Caravan | $451 | $269 | $36 | $146 |
49 | VW Beetle | $454 | $317 | $34 | $103 |
50 | Mazda Mazda6 | $460 | $321 | $37 | $102 |
51 | Chevrolet Silverado | $465 | $280 | $39 | $146 |
52 | Dodge Journey | $465 | $289 | $39 | $138 |
53 | Mazda MX-5 Miata | $471 | $316 | $30 | $125 |
54 | Fiat 500 | $472 | $317 | $29 | $125 |
55 | Kia Optima | $475 | $334 | $39 | $102 |
56 | Honda Pilot | $476 | $311 | $37 | $128 |
57 | Mini Cooper Clubman | $476 | $316 | $35 | $125 |
58 | Chevrolet Camaro | $479 | $302 | $35 | $142 |
59 | Buick Encore | $483 | $342 | $36 | $104 |
60 | VW Passat | $485 | $346 | $35 | $104 |
61 | Nissan Altima | $487 | $359 | $38 | $90 |
62 | Toyota Camry | $489 | $347 | $39 | $103 |
63 | Chevrolet Malibu | $490 | $358 | $37 | $96 |
64 | Jeep Grand Cherokee | $491 | $312 | $41 | $138 |
65 | Kia Sorento | $493 | $334 | $39 | $120 |
66 | Subaru BRZ | $497 | $313 | $37 | $147 |
67 | Buick Verano | $500 | $343 | $36 | $121 |
68 | Ford Fusion | $503 | $355 | $37 | $112 |
69 | Dodge Challenger | $504 | $339 | $40 | $125 |
70 | Chrysler 200 | $507 | $364 | $34 | $108 |
71 | Mitsubishi Outlander | $510 | $366 | $38 | $106 |
72 | Ford Escape | $511 | $358 | $36 | $117 |
73 | Nissan Quest | $519 | $359 | $35 | $125 |
74 | Dodge Durango | $526 | $351 | $38 | $138 |
75 | Chevrolet Equinox | $531 | $379 | $36 | $117 |
76 | Kia Optima hybrid | $534 | $426 | $39 | $69 |
77 | GMC Terrain | $535 | $385 | $36 | $114 |
78 | Ford C-Max Hybrid | $539 | $429 | $37 | $73 |
79 | Hyundai Sonata Hybrid | $548 | $442 | $37 | $70 |
80 | VW Tiguan | $551 | $349 | $35 | $167 |
81 | Honda Odyssey | $556 | $396 | $32 | $128 |
82 | Dodge Charger | $567 | $398 | $44 | $125 |
83 | Ford Explorer | $586 | $406 | $38 | $142 |
84 | Nissan Titan | $587 | $378 | $42 | $167 |
85 | Mazda CX-9 | $594 | $440 | $37 | $117 |
86 | Nissan Murano | $605 | $449 | $36 | $120 |
87 | Chevrolet Impala | $610 | $453 | $40 | $117 |
88 | Nissan Pathfinder | $611 | $448 | $38 | $125 |
89 | Ford Edge | $619 | $434 | $38 | $147 |
90 | GMC Acadia | $619 | $457 | $37 | $125 |
91 | Ford Taurus | $627 | $459 | $36 | $132 |
92 | Chrysler 300 | $652 | $489 | $38 | $125 |
93 | Chrysler Town and Country | $654 | $472 | $35 | $146 |
94 | Audi A4 | $654 | $494 | $36 | $125 |
95 | Chevrolet Traverse | $658 | $459 | $36 | $163 |
96 | Hyundai Azera | $679 | $516 | $37 | $125 |
97 | Buick Regal | $700 | $516 | $38 | $146 |
98 | Buick LaCrosse | $704 | $549 | $38 | $117 |
99 | Nissan Maxima | $715 | $532 | $40 | $144 |
100 | Nissan Leaf | $738 | $655 | $38 | $46 |
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