I’m trying to help my brother find a cheap lease deal on a new subcompact SUV/crossover for his daughter as a first car. Personally I would purchase a beater used car and let her hone her skills on a car that won’t require comprehensive insurance coverage, but he wants to go the new car route. He wants to pay minimum drive-offs and come in at around $300/mo (including tax) on a 24- or 36-month lease with 10K miles per year. AWD is not necessary and it could be a brand that’s not super hot (such as Mitsubishi, Nissan, etc) compared to Honda, Toyota, Kia or Hyundai. EV is not an option. So it has to be something that’s either discounted well or has a high or subsidized residual value/MF. I think the MSRP has to stay below $25K for sure to meet that payment target. He’s thinking along the lines of a base model VW Taos S FWD. I don’t remember what Nissan has in entry level small crossovers but I know Mitsubishi has an Outlander Sport which starts below $25K. Kia Soul and Hyundai Venue are in that price range too.
Vinfast vf8
MSRPs are becoming increasingly meaningless, especially with EVs.
Browse:
That’s going to be very problematic.
I think one broker is listing base Acura Integras for < $300/mo + $3K (or so) drive offs. Maybe @Cody_Carter still has some gas Camry SEs.
That’s might be pretty much it. I don’t think there are any ICE SUVs/crossovers in your desired price range.
I sell in this segment often, call/text me and ill send you multiple options
If there’s any non Stellantis lease in the household, a Dodge Hornet could get there. Not a bad ride and a lot of tech but the very definition of a non-hot car.
I assume such good deals are only available on the PHEV version?
Correct. Sfs passes through $6500 and the conquest is $4500 plus $1k tdm and a decent discount.
Crosstrek, CX-30, and Equinox come to mind. Camry if a midsize sedan is OK.
Why is ev not an option? Beside the insurance cost, ev is a good option since she will not drive much anyway. Most ev lease comes with free charging if she can’t charge at home. It’s only an issue if charging is not possible at home and no nearby free EA/EVgo.
Given this is SoCal and he’s asking for the cheapest car, she lives in an apartment and can’t charge at work.
My brother drives a Tesla Y himself and has Level 2 charging at home but he is adamant that EV charging won’t work for his teenage daughter. From my own experience with my daughters, I can’t disagree. EV charging requires advance planning. You can’t wait until you’re down to 10 miles of range before looking to charge. My girls would always drive the car until the fuel light was on and range was down to 5 miles and then would ask me to fill up the car.
If your brother has level 2 charging at home, it should work. It’s just one more checklist to do before you sleep. Insurance cost is a much bigger issue. YMMV.
You’re right about the insurance. I turned in a 2021 Audi S4 and got into a Q4 e-tron EV, expecting perhaps a drop in my insurance rate since the Q4 is not a performance car but my rate went up a fair amount. Part of it is due to the higher MSRP but I honestly didn’t expect an increase.
I submitted 8 cars to my insurance company and the Q4 was more than all of them including the EQB
Buick Encore GX FWD would be under $300k a month (pre-tax) if you just took the headline offers with conquest added in.
I figure some haggling could beat this down further. There are also some loaners that could be even more discounted.
Conquest seems to be $1,500 or $750? I can’t tell
As long as he’s aware that once he turns on that spigot, it won’t shut off by itself.
That’s why more than 50% of parents financially support their adult children.
My wife does this. Hopefully my daughter will learn to plan ahead when she gets her EV. If not, oh well.
Oops forgot to contribute. Imprezas are under $300 🚀 Mazda CA & Subaru ~ SoCal's Best MAZDA Pricing! April BLOWOUT! ~ EZ Auto Group - #44 by EZAutoGroup
Anything is under $300 when you throw a lot of Down / Due at it.
That’s a $343 car OTD.
True, but I don’t think there’s anything under $300/mo effective for non-EV SUVs right now. Most ICE are going to have $1500 in inceptions even without cap cost reductions. Omega has a Hyundai Elantra SE for $289/mo effective using 8% tax.