Cheapest Lease Possible 10k and 24 or 36mo

I’m trying to figure out what the best lease deal is for me right now. I’m a recent college graduate. No current lease. Cheapest = lowest TCO. Can prepay lease or sign and drive, whatever makes the most sense. Would prefer 36 mo. lease but ok with 24mo. as well.

I’d love to get a Leaf (or a Volt) and might pay a little more to offset fuel savings. As a recent college grad, I currently rent in Memphis, TN but home address (parents) are in Oregon. DL is actually registered in NM. It seems like Oregon has some good deals, not sure if I’d be able to use parents address to get those deals.

The Lease Compare section of this site used to have targets for the negotiated “sale price” as well as a rating for how many years it would take for the lease payments to equal exceed the cost of purchase. Those were really helpful, especially the target “sale price” as all the quoted lease rates are based on MSRP.

I’ve also heard that the end of May is a great time for car deals. Is it worth waiting for? Is there any way to anticipate what deals might be around?

What’s best deal? Surely something under $150/mo. effective cost is doable.

As a follow up, I’m trying to use the Lease Calculator based on the Nissan Leaf.

The MSRP and sale price are fairly easy to find. It looks like there’s $1,000 college grad bonus and $10,875 leasing bonus for 2015 models. Are those tax or untaxed? What’s the residual on a 36m/10k lease?

Here’s what I used, but as noted above, these may not be accurate numbers…
MSRP: 29860
Sales Price: 27263
Untaxed Incentives: 11875
DP: 0
Acquisition Fee: 595
Residual: 35%
Months: 36
Miles: 10k
MF: .00003
Monthly Payment (excl. tax): $153

Seems like a sweet deal!

I’d strongly advise against getting a Leaf. I leased a 2013 Leaf SL for 3 years to save on fuel. My insurance premiums immediately went up (it was my first lease and I didn’t know to check what the rates would be. I went from $50/month to $160/month). There have been 3-5 recalls to fix issues. Over the course of the lease, you WILL get stranded with no range, as the range declines with time. Your ability to move will be severely restricted towards the end of the lease. Unless you like planning your life around your car’s abilities (or someone is giving you the car for free), I’d advise against it. I still have 4 months to go on my lease and I’m counting down the days till I can get rid of it.

Is it still possible to get a $129/mo. 35/mo. lease on a Camry SE? http://leasehackr.com/blog/2015/12/19/lease-this-not-that-camry-and-accord-compared-129month-0-down

Bump. wondering what’s the cheapest too that’s non all electric.

Haven’t had luck finding a Malibu/Cruze Limited.

Continuing the discussion from Cheapest Lease Possible 10k and 24 or 36mo:

I’m a huge fan of this site for the way it has helped “de-mistify” leasing and bring ownership costs down, but every once in a while I feel some would be better off buying.

In your case, for example, you are flexible on duration, type of car, amount out of pocket, and even have the ability to do a one-time pay lease. I would hypothesize that using that money towards buying a car outright or putting money down towards a small auto loan would result in the lowest TCO (Total Cost of Ownership).

I would wager that if you bought a CPO Honda or Hyundai/Kia (and bought the “wrap” that extends the powertrain warranty into a comprehensive one for 7yr/100k and 10yr/100k, respectively), it would result in a lower TCO over the next 3+ years.

Normally, comparing leasing new cars to buying used cars is apples:oranges. However, with a comprehensive warranty, you’ve taken unexpected repair costs out of the equation. With credit unions like PenFed or DCU offering rates like 1.7% for up to 60 months, financing a used car is also cheaper than I can ever recall (even cheaper if the manufacturer offers less as a CPO promotion). Depreciation, insurance, etc (the really big components of TCO) are all in your favor if you buy a used car and hold on to it for a while.

Remember that each time you buy or lease a car, you have the following one-time costs:

  1. Acq or bank fee (for leases)
  2. Tax
  3. Title
  4. Registration
  5. Plates

Think of TCO not just for your next car, but over your lifetime (or at least the next five years).

If you’re thinking of TCO, only 1 and 5 are additional over buying.