Money-saving leases are back
Leasing is back.
After being left for dead for almost two years of financial crisis and recession, automakers are once again offering low-cost leases on most models.
You won't have to look hard even for deals that require little or no money down.
Here, for example, are three very good cars that come with very good leases, this month:
- The Mazda6 sedan was totally re-engineered for 2009 to be roomier yet still retain that Mazda driving magic. The 2010 Mazda6i Sport is a ton of car for $194 per month for 36 months with nothing down and nothing due at signing.
- Honda's getting ready to redesign its Civic compact car, so it's a great time to take advantage of an uncommon cut-rate lease on the current model of Honda's popular and still crisply stylish fuel-saver. Put down $1,399 and drive off with a Civic VP sedan with an automatic transmission for a paltry $159 per month for 36 months.
- The blocky Scions from Toyota's special youth-car division are economical and offer a tremendous amount of utility in a compact package. So Scion's xD at $217 a month for 36 months -- with nothing down -- is a sweet deal, particularly considering the unusually generous allowance of 15,000 miles-per-year. OK, the fine print says $867 is due at signing, but that doesn't change the basics: This is an aggressive lease on a unique and useful car.
Here's where to find all the lease deals currently available.
But is leasing the best way for you to finance that new ride?
Plug all of the numbers into our Buy or lease? calculator.
It will allow you to compare total costs and monthly payments to make sure the lease you're being offered is cheaper than simply buying the car or truck with a conventional auto loan.
When you lease a car or truck, the finance company or bank buys the vehicle you choose, rents it to you for a specified period of time and takes possession of the vehicle when the lease is over.
That makes leasing a more complex way to finance a vehicle, and leases come with lots of confusing fees and terms.
To get the best deal, you have to understand all of the potential costs that could turn your lease into a more expensive deal than you realize.