Current Lease Offers for February 2024: Our Top Picks
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In our search for the best lease deals for car buyers, we carefully went through every car brand's official website.
We focused on finding lease offers with the lowest monthly payments and the least amount of money needed upfront at signing relative to the MSRP.
Our thorough search aimed to help car buyers find great deals. We wanted to ensure you get a good value and save money on their next car lease.
Editor's Note: Our list of the best lease deals for February 2024 is focused on higher-end models and EV-based models.
The due at signing amounts are a little bit higher than usual for this month, but that's why our top pick for this month is on the 2024 Subaru BRZ. It has a much lower due at signing amoung than the rest of our picks.
Table of Contents
- Best Lease Deals Right Now (across all vehicle types)
- Our Top Pick in Each Vehicle Class & Category
- Best Lease Deals Video
- Best Lease Deals by Category
- Frequently Asked Questions
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Best Lease Deals Right Now (across all vehicle types)
Here's our picks for the best vehicle lease deals for the month of February.
#1 Deal: 2024 Subaru BRZ
Lease Deal: $435/month for 36 months, $1,435 due at signing
#2 Deal: 2024 Volvo V60
Lease Deal: $995/month for 36 months, $4,295 due at signing
#3 Deal: 2023 Kia Sorento Plug-in Hybrid
Lease Deal: $509/month for 36 months, $3,499 due at signing
#4 Deal: 2024 Audi E-Tron
Lease Deal: $649/month for 36 months, $5,539 due at signing
|$435/month for 36 months, $1,435 due at signing
|$995/month for 36 months, $4,295 due at signing
|Sorento Plug-in Hybrid
|$509/month for 36 months, $3,499 due at signing
|$649/month for 36 months, $5,539 due at signing
|$799/month for 36 months, $6,439 due at signing
How We Collect & Rank Lease Deals
At the start of each month, we meticulously search for deals from all major manufacturers, sourcing them directly.
In our evaluation of car lease deals, we first calculated the lease value ratio by dividing the monthly payment by the car's market value, seeking lower ratios for better value.
We then considered the lease term, favoring shorter terms for their flexibility despite potentially higher monthly payments. Our focus also included the down payment, preferring deals with low or no initial payment to reduce overall lease costs.
Additionally, we calculated the total lease cost, to compare deals accurately. Finally, we factored in special offers and incentives from manufacturers, such as reduced interest rates or discounts, which significantly impact the lease's financial appeal.
This comprehensive approach helped us effectively determine the best value lease deals for you.
Our Top Pick in Each Vehicle Class & Category
Zero Down (or Low Payment) Lease Deals
One of our favorite types of lease incentive is the no money down offer. Even when brands don't advertise, you can often negotiate a zero down payment deal as well. Our top pick this month is the 2023 Subaru Solterra with a deal of $399/month for 36 months, $399 due at signing.
See all our picks for the best zero down lease deals for February »
Lease Deals Under $200 per Month
You can find many affordable lease deals for under two hundred dollars per month. Our top pick this month is the 2023 Buick Encore GX with a deal of $189/month for 24 months, $3,987 due at signing*.
See all our picks for the best lease deals under $200 per month for February »
Cheapest Lease Deals
When you think of a cheap car, you probably have low expectations. But we've found some deals with good leasing terms without sacrificing quality. Our top pick this month is the 2024 Hyundai Elantra with a deal of $199/month for 36 months, $3,499 due at signing.
See all our picks for the cheapest lease deals for February »
Truck Lease Deals
If you want a pickup truck but are scared of the price tag, there are plenty of good lease options to consider this month. Our top pick this month is the 2023 Honda Ridgeline with a deal of $339/month for 36 months, $3,899 due at signing.
See all our picks for the best truck lease deals for February »
SUV Lease Deals
Need a little extra space or 4 wheel drive? There's plenty of SUV lease options to choose from. Our top pick this month is the 2023 Volvo C40 Recharge with a deal of $485/month for 36 months, $3,869 due at signing.
See all our picks for the best SUV lease deals for February »
Minivan Lease Deals
Minivans are not just for “soccer moms”, they are great for anyone who wants an affordable vehicle with a ton of room. There's plenty of minivan lease options to choose from. Our top pick this month is the 2024 Kia Carnival MPV with a deal of $409/month for 36 months, $3,499 due at signing.
See all our picks for the best minivan lease deals for February »
Luxury Lease Deals
If you're ready to treat yourself to a high-end ride, there are many sophisticated car and SUV options that won't break the bank. Our top pick this month is the 2024 BMW X1 with a deal of $539/month for 36 months, $4,369 due at signing.
See all our picks for the best luxury vehicle lease deals for February »
Best Lease Deals Video
Frequently Asked Questions
Can you lease without a down payment?
Yes, some car brands advertise zero down leases. Here’s the full list of zero down offers right now.
Even if it’s not advertised, some dealers make the down payment optional if you meet their credit requirements. Keep in mind that a zero down lease will raise your monthly payment since you are not pre-paying some of the lease obligation.
Is it cheaper to buy or lease a car?
Monthly payments are cheaper when leasing a car. But if you buy and keep a car after it’s paid off, it’s cheaper in the long run. Here are some of the cheapest lease offers with monthly payments under $200.
Does leasing a car build credit?
Yes, leasing a car builds credits in the same way that buying a car does. You just need to show a history of paying in full and on time.
What credit score do I need to lease a car?
With some exceptions, the typical minimum credit score to lease a car is 620. However, unless your credit score is over 680, you will not qualify for the best lease deals.
What is capitalized cost in a car lease?
Capitalized cost is the total amount being financed with a lease. This is the price of the vehicle and all associated fees, minus whatever you pay in cash for your down payment and your trade-in.
What is the money factor in a car lease?
The money factor is the financing rate on a lease, similar to interest paid on a loan, but expressed a little differently. The lower the money factor, the less your monthly payment will be.
Is it better to buy or lease a car?
Leasing a car does result in lower monthly car payments. But for most car buyers, it makes more financial sense to buy a car outright than to lease. The exceptions are if you are deducting the car as a business expense or you want to replace your car every 2-3 years. Learn more about the reasons to buy or lease a car.
Why do dealers want you to lease?
Dealers love to offer leases because they will make more profit than a typical car sale. And consumers are less likely to negotiate a lease due to seemingly low payments and confusing financial terms like money factor and capitalized cost.