Leasing can be a blessing and a curse. On one hand, the owner isn’t responsible for much of anything, save for routine maintenance. On the other hand, the owner isn’t actually the “owner,” and will be stuck looking for another car in three years or so.
But, it does make sense more millions of people who lease cars every year. Car and Driver compiled some of the most intriguing lease deals at current, and two General Motors brands want to move some metal.
First, Cadillac is offering two attractive lease deals, one for the CTS and one for the CT6 Plug-In. Customers can take advantage of a lease rate of $449 per month with $4,309 down on a 2017 Cadillac CTS. Total mileage is 32,500. Mind you, this applies only to the CTS base model.
The 2017 Cadillac CT6 Plug-In bumps the monthly payment but includes extra niceties, as it should. The prestige sedan’s payment rings in at $699 per month with $4,699 down and 30,000 miles total. The Plug-In sits as its own model and offers many features found in otherwise optional CT6 packages.
Too rich for you blood? No worries. Chevrolet is getting aggressive with the 2017 Cruze hatchback and 2017 Impala full-size sedan.
The 2017 Chevrolet Cruze hatchback can be had for just $189 per month with $1,979 down and 32,500 miles total. That’s in LT trim which includes a 7-inch touchscreen unit, 16-inch wheels, cruise control and more. This deal also applies to the manual gearbox equipped Cruze hatchback.
And for those seeking extra room, they may find a 2017 Chevrolet Impala for only $279 a month with $3,669 down and 32,500 miles total. This deal is national and applies particularly to the Impala LT with the 3.6-liter V6 engine. An 8-inch touchscreen, dual-zone climate control and leather-wrapped extras are included.
We’ll mention it, even though it’s not a GM product. The 2017 Acura TLX takes the cake. Right now, ahead of the model’s refresh, buyers can step into a TLX for just $279 per month and only $999 down for 36 months. Now that’s a deal.
Comments
That’s still a lot of money down.
Exactly, average it out (and pay yourself no interest) and the Cruze comes to $239.74/month, the CTS $559.49, the Impala $373.08. Actually, those Chevy’s aren’t too bad – as long as you can keep the miles down. Personally I do 20k+ per year, buying is the only reasonable way for me to do it.
Believe the annual mileage on these leases should be 10,000 miles a year, what they consider low-mileage leases and not 32,500…
Those are typically leases for 39 months, hence the extra mileage.
“On the other hand, the owner isn’t actually the “owner,” and will be stuck looking for another car in three years or so.”
I do believe most people finance their vehicles when they purchase which means they technically do not own their vehicles either, the bank does. Most people’s trade cycle is 3-4 years anyways, which mean they never own the vehicle and should be leasing.
Only if the mileage you drive falls within the lease agreement. If not, buying, regardless of trade cycle probably makes more sense than paying .25 / mile or more.
They like 39 month terms because you pay the license tags for year four but only get three months worth out of it. This can be a still a lot of money each year in California. A lease is a better deal if you are able to write it off for work. If you do a lot of miles per year, buy a used car with low miles on it. No reason to take the 30+ percent hit of a new car.
A great lease is when you put 0 down (upfronts rolled in), 10k miles a year and it’s close to 1% of the msrp per month, including taxes. 1.5% or higher of msrp is too much and anything less than 1% is a steal.
50k car
0 down
500/mo (1%)
Increases of 3k miles per year cost about $35 more per month. Every $1k you don’t put down would raise payments about $30/mo.