I’m new to leasing but have been reading the forum and doing some research. I want to lease a new sedan or SUV for around $250/mnth with at least 12,000 miles/yr. I am open to several cars, but my current favorites are the Mazda6, CX-5, BMW X1, Hyundai Tuscon, QX30. In any car, though, I would like a fair amount of options (leather, adaptive CC, etc) I’ve read that some makes lease better than others, so hoping to get some guidance on where to start. Also, I live in New York and have read that dealers in other states like NJ or CT maybe better to lease from. Any suggestions on deals this month or next, when to go, what brands to start at would be greatly appreciated!
Do you know the RV/MF/incentives of any of the cars in your list? How’d you come up with a budget of $250 for those? You might be able to get the Mazda or Hyundai, but if fully loaded, even those won’t fit into your budget. Forget about the others as they definitely won’t.
Thank for the reply, Jon. The number comes from what I’m comfortable paying every month (not related to any specific vehicle). I have never leased and I have owned used cars with no payments in the past. I don’t know what the dealers are offering as far as incentives. I’m wondering what is best out there currently and/or where to start.
Start by doing research. Understand what leasing is and how it works. Learn how to calculate leases. Then research the cars you like and calculate yourself the realistic prices you should expect to pay for each vehicle in your region. Just because 2 cars have similar MSRPs doesn’t mean they will lease for the same price.
If this sounds like too much for you, hire a broker.
The only car that is actually doable at that price point is the Tucson. The Mazdas are out of the question for sure except a Mazda 6 Sport (maybe), and the BMW and Infiniti might happen when pigs fly. You’re going to have to either increase your budget or decrease your expectations
Thanks! Yah I suppose that’s what I’m getting at: what should my expectations be? what can I expect to get right now in the current least market? It seems like Infiniti may give big discounts off the MSRP in certain areas. I thought if I can get 15%-20% off msrp, the numbers could get close (not $250, but possibly under $300). I have seen that Mazda doesn’t tend to give you much off MSRP, so understand what I want may not be possible.
How negotiable does the MF tend to be? Would I be better off finding a dealer in NJ than NY? (or CT for that matter).
Thanks again, Jon. I have been doing the research and understand the components of the lease. I have been running hypotheticals through the lease calculator, however I don’t know what is realistic in terms of getting discounts of MSRP, MF, etc. I’m wondering where might be the best place to start as far as Makes, models, State, or even specific dealers.
20% off on any of the cars you listed is going to be a little difficult. Maybe the QX30 and maybe the X1 can do 10-15%. Still not going to hit your target budget.
FWIW, I leased a Mazda6 Sport back in 2013 before I knew leasehackr existed. I did a sign and drive for $240 monthly, including tax. Residual back then for the 36/12 was 56%, now it’s like 50%. I got 9.5% off MSRP.
Like others have said, you’re going to have to adjust your monthly budget or lower your expectations in terms of car and/or options desired.
Not really answering your question, but generally you’ll have much better luck with sedans as opposed to crossovers/SUVs which are very popular right now. Also, adaptive cruise control is typically an expensive/high trim option, even for luxury brands, so you might fare better if you take that off of your list of must haves.
Solistice - Thanks. That is answering part of my question. I suspected that going after a sedan would have a better chance. I keep wondering what’s the best sedan that doesn’t sell and might offer a big discount.
best sedan deal right now is the 2017 accord. New model in the wings and closeout pricing on 2017s
you can score an LX (base model) for between 190 and 210 per month with minimal haggling.
Know that supply is going down because people are jumping on the deals; look at the edmunds forum for more info;
Disregard the one poor soul who leased an LX for 331/month; i think that is a scam.
if leather is a must-have: Accord Sport SE at 239/mo
if adaptive CC is a must: increase your budget.
Lots of competition in the mid-size non-lux sedan market: Accord, Camry, Sonata. If you can wait 2-3 months, Camry prices will come down. I believe high-speed adaptive CC is standard on the base LE model (msrp 25139)