Just a general discussion thread.
Given that MF’s are outrageous and that dealerships are kind of offering low financing APRs, is leasing an ICE car now just a bad option?
I only really see deals on electrified vehicles now, and they are always contingent on the federal rebate, or local rebates to make them viable.
I am in CA where unless you charge at home most of the time, 3rd-party charging once equalized costs rougly equivalent to a 35-mpg vehicle.
If you throw money at me, I’m going to reach out and catch it.
Which is better than many vehicles out there.
Gas cars have their deals, just EV’s come with $7500 off the top and that’s hard to match.
Accords are leasing nicely right now.
Good point. As a consumer, yeah the $7,500 EV tax credit is very helpful to reduce the lease payment. Also if you are in the US, it’s the only way to take advantage of the IRA tax credit for foreign made SUVs over $80K, or if your annual salary exceeds the $150K threshold.
Furthermore, manufacturers in the US and Europe get additional tax credits by selling by selling more low emission vehicles, so they are additionally motivated by their governments to push people towards EVs.
Many of the manufactures include 2-3 years of free public charging. When I had my Model X I was spending about $300/month on Supercharger fees (I don’t have a charger at home). With my 2 years free charging on my BMW iX, I’m going save about $7,200 over the next years compared to my Tesla.
Not to mention the crazy additional savings right now due not paying $7/gallon for gas in Los Angeles! I borrowed my buddy’s X7 M60i this weekend, and enjoyed that beautiful engine, and had so much fun driving it, but mileage is terrible. I used the whole tank just driving it Friday-Sunday, and it was $150 to fill it up again! That could easily be $800/month in gas if it were my daily driver!!
It’s a feature, not a bug.
I actually see pretty good deals on Audi Q5s, but $199/mo Jettas and Imprezas are gone. I charge at home pretty much all the time, and I pay about $45/mo in electricity by charging at super off peak - 12am to 6am. My wife spends $400/mo on premium unleaded. We’re also in SoCal. My wife doesn’t want an EV, however. She currently drives an MDX and is only open to the Lexus NX hybrids, which are selling for MSRP with no incentives, so it leases really poorly.
They are still there, as long as you understand interest went from 0.1% to 7% and that’s how Lease prices go crazy.
Were $199 Jettas with zero down? The best I did was in 2019, I leased Jetta S (base with no options) for $250/mo with $0 down (all fees and taxes rolled into monthly payments), and that was after $4000+ discount on a car that had sticker price of $17K. My second one cost me $300/mo (though this was SE with winter package, pano roof and etc.). How much you would need to discount S to get it for $199/mo, even with 2019 MF?
$199/mo, with true $0 down? How much discount were you getting on it back then to lease it for $199/mo?
Deals like that were available years ago. In 2016 I leased 2 Jettas within a month of each other, zero down (besides the first month’s payment, I believe, because I think VW Credit required that at the time), and the payments were like $155 and $164 per month on each car. I think the dealer discount was around $5500 on each. Something in that ballpark.
I’d lease another right now if I could reproduce a similar deal again.
I certainly would lease them for $166/mo too, but I would like to see how it broke down to such payment. With over 20% off on MSRP and preset by VW RV, with lowest MF available to T1 borrowers at the time, I couldn’t get it any lower than $250/mo. What was your tax rate? Was it brand new car? Supposing your discount was greater than mine and you paid near zero MF, you would still be over $200/mo, close to $230.
Let’s stay on topic. What deals were available N years is not very relevant right now.
I don’t see why this should be the comparison. Does anyone buy an ICEV and then proceed to keep refilling at the highest priced gas station?
I am all for EVs in the right use-cases but without charging at work or home, it doesn’t make sense. Not just the price but the time wasted too.
The guy can’t do simple math. He pays 6% sales tax on the selling price and compares his deals to deals in CA.
Archimedes, why don’t you break it down for math illiterate Macan driver with CA tax rate and show how $166/mo was possible?
On topic: ICE leases are not bad now. It’s hard to replicate pre-COVID deals, not just due to higher MF (there are some specials with extremely low MFs), but also due to inflation which resulted in 25% or higher increase of MSRP of the same makes and models. So, your money is not worth what it used to. Even if MF was near zero and your could get today the same discount you could back in January 2021, you would still pay more now. But, good deals are there. Large discounts, rebates and incentives on certain ICE models exist. Just stay on top of it, check with dealers from time to time and try to get your deals closed towards the end of the month.
I think it’s more fun to look at the absolutely garbage lease offers on ICE. Try to top this one on a Lincoln Corsair GT… they’re waiving security deposits guys!
With taxes you get to pay like $44k to use this car for 48 months!
Agree with the requirement to have charging at work/home. I have an EV and whenever someone asks me about it I tell them unless you can charge at home don’t even consider it.
I had the unfortunate experience of having an EV thrust upon me as a rental vehicle (Tesla and Polestar) and after doing the calculations I was better off with a ICE car, would’ve cost me the same and saved me many hours…
My lease is coming up and my biggest decision point is continue with EV or go back to ICE. Of course we can’t predict prices of gasoline/electricity, but realistically, when I think about the total lease cost of some of these cars I’m wondering if I should bite the bullet and get 80% there of a cheaper new/used vehicle…not asking for soapbox just do it statements just throwing it out there.
You hit the nail on the head, other than EV deals, which are only good in certain states due to extra money by the state etc, leases are pretty terrible right now. I jumped on the EV bandwagon again because they are the only real deals out there, if you’re lucky enough to live in a state throwing free money at EV’s
For a new car an EV is a great choice for those who can charge at home or work.
Used, I’d definitely stay away from most late models. Bottom (or close) of depreciation curve is better than steep depreciation curve.
I’ve seen some deals. But EV is where it’s at right now. Pretty much why I am driving one. Really wanted an M340i or 440i for around 70K, but ended up going with a 120K etron that came out cheaper. Whoever wants to bend over backwards to sell me a car, I’ll oblige them. No loyalty here
Yup, it also doesn’t help that I don’t really like most new cars from BMW and Mercedes. Audi is meh. Porsche I’ll take, but those never leased well. I do not want to pay $700-1000/mo to drive around a 3 or 5 series. Bring back the sub $300/mo 3 Series!!! Anyway, if I have to spend what I consider real money on a car, especially one I that I don’t like that much, I’ll just buy rather than lease and get something nice like a Porsche. I’d rather finance a CPO Macan than lease a new 5 Series for whatever it would be now. My 2019 75k sticker 540 was 499/mo. I’ll give the market another few months and continue driving the 09 Cayenne GTS I picked up. If there still isn’t anything that appealing, I’ll probably just continue buying like I have been since Covid…
