Is it a bad time to lease a car?

I’m in California, someone recently told me it’s a bad time to lease a car. Is that true?

Depends on what you are looking to lease.

It’s a bad time to do a lot of things right now.

Not EV and NOT on east coast LOL

2 Likes

Depends on what you are looking for, budget, timeline

Time as in what?

If you mean pricing? Yes it was better 5 years ago.
If you mean a certain model ? Maybe, for example the Ioniq5 is on fire here

If you mean vs VT? Yes, because East coast gets a ton of Nissan Rebates right now.

I heard it’s a great time to lease in North Carolina.

which ionic 5- 2023 or 2024?

Why would that be? Any lease incentives in NC?

2024 is best for Lease, @Jeff_BeachCitiesAuto has it under $300

2023 is best for Buy as it has $15000 min off.

1 Like

Technically, it’s never a bad time to lease a car as long as you are flexible. Even when there were huge mark ups, people were leasing Nissan Frontiers for $179/mo, with 18 month RVs at 99%. With interest rates pretty high, you have to look for lease programs with low money factors, as well as discounts off msrp and manufacturer and government incentives. MB EQB 300 falls into that category and leases very well - low $400s effective for 3/7.5k with MSDs. Not bad for a $60k car.

Look at the marketplace and decide for yourself. I’ve seen some pretty good deals in there, especially Audi. If you just walk into a dealership with no clue, it’s never going to be a good time to lease a car.

1 Like

Just heard it’s a great time! I always act on what I hear.

Only if the dealer is NOT in NC. :grin:

Yes. It is bad, but tomorrow is worse.

1 Like

Step one: Build a time machine…

It was actually the worst time in history for the past year. But things are standing to change! Dealers are flooded with vehicles and need to have some great lease incentives and APR incentives. I’ve been watching this. I handed in a leased vehicle on August 29. And I refuse to lease or purchase because of the crazy pricing currently! Thank God I have a family business work vehicle that I can use in the meantime. Just to give you an example. My last lease was a 2020 Toyota Tacoma SR5 sport premium. MSRP was $46,000. It was an ally bank lease, it was $375 at signing, and $375 per month for 39 months. That included monthly payment tax and everything. Currently that same vehicle in 2023 had an MSRP of approximately $1200 more. But if I leased again, the monthly payment would be approximately $600 per month through Ally bank. So it’s not even comparable to what I was paying, and I can’t justify $225 more per month for the same vehicle. Literally they haven’t done anything to that vehicle in three model years. The 2024 are going to be on lats in the next few weeks. So yes, it’s a terrible time in history to purchase or lease a vehicle. These manufactures got way out of hand with pricing over the last three years. And it’s showing nationwide. Stellantis is in major trouble. Ford is next.

1 Like

Without context, it’s neither here nor there. As already pointed out, it’s a good time to lease certain cars depending on certain conditions.

I’m not really sure that discussion is nearly as fruitful as discussing whether you need a car and if so what you need.

In general, yes, but there have been great deals on EVs in recent months. Forget about trying to get prices anywhere even close to pre-pandemic on leases for most cars, but if you’re flexible, you can still score a great deal.

I fortunately got my lease in 2020 right before the supply chain issues and shortages became a real problem, but now that I’m in the market for a new car, it’s a little ridiculous how greedy these dealers have become.

1 Like