Cheapest Lease Deals: May 2017

By

Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website

, Senior Pricing Analyst - May 9, 2017

Finding the cheapest leases isn’t always easy. Oftentimes there’s a catch, like low payments offset by a big amount due at signing. That’s why we analyzed over 440 offers based on effective cost to uncover the absolute cheapest lease deals in May.

Offers ahead of Memorial Day are strong, with an assortment of price cuts and special incentives worth up to $1,500 to get you to switch brands. In some cases, we’re seeing the best deals of the year on popular models.

We’ve listed the top five cheapest leases for small & midsize cars, SUVs & crossovers, minivans & wagons, luxury cars & SUVs and trucks. We’ve included the effective cost for each one factoring both payment and amount due at signing.

Be sure to also explore our monthly analysis of the best lease deals. Get the latest updates with our exclusive Memorial Day deals coverage. Offers listed here assume a Southern California location unless noted otherwise.

Last updated 5:00 pm Tuesday, May 9

Cheapest Small Car Leases

Kia Forte

This month’s cheapest small car lease is the 2017 Kia Forte. With an effective cost of just $195, it’s one of the only true leases under $200.

However, it’s followed by a trio of excellent budget picks: the Toyota Yaris iA, Nissan Sentra and Toyota Corolla. All three cars have the exact same effective cost of $205.

Rounding out our set, the Honda Fit continues to be an attractive option with its flexible interior and ample visibility while driving. At $206/month, its effective cost meets even the tightest of budgets.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Kia Forte 2.0 LX Sedan $139/$1,999/36 $195 $18,495 7/10/17 Get Quote
2017 Toyota Yaris iA Base $149/$1,999/36 $205 $17,915 5/31/17 Get Quote
2017 Nissan Sentra SV w/CTV $149/$1,999/36 $205 $20,065 6/5/17 Get Quote
2017 Toyota Corolla SE $149/$1,999/36 $205 $21,534 5/31/17 Get Quote
2017 Honda Fit LX $139/$2,399/36 $206 $17,765 7/5/17 Get Quote



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Cheapest Midsize Car Leases

The Nissan Altima is this month’s cheapest midsize car lease. Thanks to a surge in lease discounts as well as a $500 bonus, the amount due at signing has fallen $1,800. However, the 2017 Toyota Camry continues to be a stellar deal following a $10 cut in payment back in April. Like all Toyotas, it features a nice bonus: 2 years of complimentary maintenance.

If you loathe the idea of paying a ton upfront, you may want to consider the Subaru Legacy. As in previous months, the car benefits from an attractive Sign & Drive promotion. Finally, Honda has buckled under pressure and cut its payment on the Accord LX by $10. It ends up just $5 higher than the Hyundai Sonata SE.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Nissan Altima 2.5 S $189/$1,399/36 $228 $24,590 6/5/17 Get Quote
2017 Toyota Camry SE 4-cyl $179/$1,999/36 $235 $24,929 5/31/17 Get Quote
2017 Subaru Legacy 2.5i Premium $239/$0/36 $239 $24,815 5/31/17 Get Quote
2017 Hyundai Sonata SE $179/$2,199/36 $240 $22,585 5/31/17 Get Quote
2017 Honda Accord LX $189/$1,999/36 $245 $24,130 7/5/17 Get Quote



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Cheapest SUV Leases

Chevy Trax

This month’s cheapest SUV lease is the 2017 Chevy Trax LT. With an effective cost of $204, it’s actually more affordable than most small cars. However, to get to that price, GM is factoring in a $1,250 loyalty bonus for current Chevy lessees. For everyone else, the amount due at signing is $3,019.

A more straightforward alternative is the Honda HR-V. For May, the monthly payment has been cut by $10, making it one of the most affordable leases without a bunch of strings attached. The 2017 Equinox ranks as a stellar deal too, but it has the caveat of factoring a $1,250 bonus for Chevy lessees. Without it, the amount at signing is $3,149.

Finally, the Subaru Crosstrek benefits from a $60 cut in payment, but the amount at signing has gone up $870. However, even though it’s inexpensive, you’ll only be getting a barebones model with a manual transmission.

Shoppers may find that the 2017 Mazda CX-3 is a better alternative. At $255, it’s a bit pricier but gets you a well-designed vehicle with an automatic transmission and more driving enjoyment than the average SUV.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Chevrolet Trax 1LT (GM Lease Loyalty) $159/$1,769/39 $204 $23,795 5/31/17 Get Quote
2017 Honda HR-V LX 2WD $179/$2,299/36 $243 $21,205 7/5/17 Get Quote
2017 Subaru Crosstrek 2.0i Standard (Manual) $189/$1,979/36 $244 $22,570 5/31/17 Get Quote
2017 Chevrolet Equinox LS FWD (Chevy Lease Loyalty) $169/$1,899/24 $248 $26,405 5/31/17 Get Quote
2017 Mazda CX-3 Sport FWD $199/$1,999/36 $255 $20,860 5/31/17 Get Quote



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Cheapest Minivan Leases

Volkswagen Golf Sportwagen

It may not be a minivan, but the 2017 Golf SportWagen can be a compelling alternative to the traditional family-hauler. With an effective cost of $325, it’s also quite a bit less expensive. Sadly, a $1,000 bonus for owners of a competing vehicle was cancelled following April.

Alternatively, if you can still find one, the 2016 Kia Sedona is the cheapest lease on a purebred minivan. However, only $10 separates it from its popular rival, the 2017 Toyota Sienna. Both vehicles are followed closely by the Honda Odyssey, which is due for a major redesign later this year.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Volkswagen Golf SportWagen 1.8T S $269/$1,999/36 $325 $23,500 5/31/17 Get Quote
2016 Kia Sedona LX $279/$1,999/36 $335 $29,395 7/10/17 Get Quote
2017 Toyota Sienna L V6 FWD $289/$1,999/36 $345 $31,020 5/31/17 Get Quote
2017 Honda Odyssey LX $279/$2,499/36 $348 $30,790 7/5/17 Get Quote
2017 Kia Sedona LX $299/$1,999/36 $355 $29,850 7/10/17 Get Quote



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Cheapest Truck Leases

Chevy Silverado 1500

With an effective cost of $337, the Chevy Silverado is the absolute cheapest lease on a truck. For a vehicle priced over $42,000, that’s a stellar deal. However, there are a bunch of caveats you should be aware of.

First, GM is factoring in a $1,750 loyalty bonus for current GM lessees. Second, the deal is only for the 1LT Double Cab with All Star Package. Without this specific combination, the amount due at signing balloons to $3,489.

At $341, the Nissan Frontier is one of the most affordable truck leases. However, a huge difference in discounts has resulted in the Nissan Titan ending up just $1/month higher. What’s really absurd is that the MSRPs for these are normally separated by $6,555.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Chevrolet Silverado 1500 1LT Dbl Cab V6 4x4 All Star (GM Lease Loyalty) $289/$1,739/36 $337 $42,585 5/31/17 Get Quote
2017 Nissan Frontier SV 4x4 Crew Cab $299/$1,499/36 $341 $29,855 6/5/17 Get Quote
2017 Nissan Titan S 4x2 Crew Cab $259/$2,999/36 $342 $36,410 6/5/17 Get Quote
2017 Chevrolet Colorado LT 4x4 Crew Cab (GM Lease Loyalty) $279/$3,059/39 $357 $34,465 5/31/17 Get Quote
2017 GMC Canyon SLE Crew Cab Short Box (Lease Conquest) $249/$3,069/24 $377 $31,035 5/31/17 Get Quote



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Cheapest Luxury Car Leases

Buick Verano

The 2017 Buick Verano ranks as the cheapest luxury car lease when you take advantage of a $1,500 discount for coming from a non-GM lease. With an effective cost of $277, no competitor beats it when it comes to affordability. Similarly, the Acura ILX has an attractive lease targeting owners of a competing brand.

However, if you’re looking for more value, the 2017 Acura TLX is an absolute steal with an effective cost of just $307. Even better, the V6 variant is only $20 more expensive despite an MSRP that’s $3,450 higher. Now that Acura is clearing the way for the updated 2018 TLX, expect to be able to get a great deal heading into Memorial Day.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Buick Verano Sport Touring FWD (Lease Conquest) $199/$3,059/39 $277 $25,040 5/31/17 Get Quote
2017 Acura ILX Base 8-Spd DCT (Conquest) $219/$2,499/36 $288 $28,940 7/5/17 Get Quote
2017 Buick Regal Sport Touring FWD (Lease Conquest) $259/$1,809/39 $305 $29,540 5/31/17 Get Quote
2017 Acura TLX Base 4-cyl DCT $279/$999/36 $307 $32,950 7/5/17 Get Quote
2017 Acura TLX Base V6 9-spd $299/$999/36 $327 $36,400 7/5/17 Get Quote



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Cheapest Luxury SUV Leases

Buick Encore

With an effective cost of $251, the Buick Encore is the cheapest luxury SUV lease. However, to get to that price, GM is factoring in a $1,500 bonus for current lessees of a competitive brand. Without it, the amount due at signing comes in at $3,509.

If you’re looking for fewer strings attached, the Infiniti QX30 Base is a good alternative with an effective cost of $348. However, we think the Luxury model is a superior value because of larger discounts. In fact, it’s only $10/month more to lease despite an MSRP that’s $2,650 higher.

One of this month’s biggest surprises is a surge in discounts on the popular 2017 Acura RDX. In addition to a $10 payment cut, the amount at signing has fallen $200. We rarely see RDX leases this affordable, so this is a deal worth considering.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Buick Encore Base FWD 1SB (Lease Conquest) $199/$2,009/39 $251 $25,290 5/31/17 Get Quote
2017 Infiniti QX30 Base FWD $279/$2,699/39 $348 $30,945 5/31/17 Get Quote
2017 Lincoln MKC 2.0 Select Plus (Conquest) $279/$2,929/36 $360 $33,805 5/31/17 Get Quote
2017 Buick Envision Preferred (Lease Conquest) $299/$2,679/36 $373 $36,795 5/31/17 Get Quote
2017 Acura RDX Base V6 2WD $299/$2,799/36 $377 $36,645 7/5/17 Get Quote

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, Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website