Or is it extremely specific to the vehicle/brand? My wife leased a 2022 Volvo a few months back and we were told the 24 month lease was by far the way to go…and I just looked at a 2023 Grand Cherokee L Altitude and the dealer told me for a 12k mile lease, the 24 month lease with Ally was light years better than any other deal.
Ive always known leases to be 36 months hence the post, but just curious the overall thought.
Depends on the captive. Sometimes 24 months is the better program, other times, it’s terrible. Captives tend to put the better programs on the term most closely related to when the vehicle will return to them, and they can capitalize the most on resale at auction. A type of speculation on their part, as it could blow up in their face too if vehicle values are lower than what they project them to be.
36 month is generally the thing most people think of when leasing, but there are plenty of other options out there, and depending on the time of year, the amount of lease penetration they currently have, etc…you could see 24, 27, 30, 33, 39, 42 and 48 month terms that are all favorable, if you’re a payment shopper.
Keep in mind the transaction costs every time you lease or at least make sure you factor them into your total cost of ownership formula. Every time you lease is a new acq fee, dealer fee, higher taxes or insurance, perhaps increased registration costs, etc…these can very easily get into a few thousand dollars.
Every once in a while we see a car that the 24 month lease has a rv high enough for it to financially make sense over a 36 month lease. Even more rare is to see a 24 month lease incentive higher than a 36 month incentive that moves the needle enough. It has happened every once in a while.
90% of vehicles have poor 24 month leases currently, one of the few exceptions is Nissan leases. Don’t expect a random vehicle to have an appealing 24 month lease vs the common 36 month term.
New leaser here - I’m in a position where I have to have a 24 month lease (likely leaving the country in 2 years). What manufacturers would you say have reasonable 24 month lease terms? (If it helps my ZIP is 94114). Thanks!
None but nissan
Pick you poison. I did a 39 month lease for a wrangler since it waived the acq fee and then I sold it two months later.
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