Cheapest + Most Affordable Lease Deals For April 2024

We thoroughly checked every car brand's official website to find the most affordable and cheapest car lease deals.

Our aim was to find lease deals with the lowest monthly payments and smallest initial payments, keeping the car's MSRP in mind.

We conducted this detailed search to help buyers find the best lease deals, ensuring both value and savings on their next car lease.

Cheapest Lease Deals Right Now: Top Picks

To get the most bang-for-your-buck, check out our top picks for the most inexpensive cars to lease right now.

* Buick and Chevrolet lease deals only apply to current lessees of a 2018 or newer GM or non-GM model.

How We Collect & Rank Lease Deals

Every month, we diligently hunt for the cheapest lease deals from all major car manufacturers, getting our information directly from them.

To rank these car lease deals, we start by calculating the lease value ratio, which involves dividing the monthly payment by the car's market value. We look for lower ratios as they indicate better value.

Next, we look at the lease term, with a preference for shorter terms. These offer more flexibility, even if they sometimes have higher monthly payments. We also pay close attention to the down payment, favoring deals with low or no initial payment to minimize the total cost of the lease.

We then calculate the total cost of each lease to make accurate comparisons. Lastly, we consider any special offers and incentives from the manufacturers, like lower interest rates or discounts, which can greatly affect the lease's overall cost-effectiveness.

Cheapest Car to Lease

So what is the cheapest car to lease? Out of all these low-priced cars, we selected the 2024 Subaru Solterra

Top Pick: 2024 Subaru Solterra

Lease Deal: $329/month for 36 months, $329 due at signing

>> Check Subaru Solterra Prices <<

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Want more affordable lease deals? Our team scours the web every month to find all types of lease deals across all brands and vehicle types.

Factors That Determine the Cost of a Vehicle Lease

The factors used to determine your monthly lease payments are:

• Depreciation. You pay for the amount of depreciation the vehicle will experience over the lease term. Therefore, cars that depreciate faster will cost more to lease per month but will be less expensive to buy after the lease.
• Rent charges. Rent charges (based on the money factor) are like the interest rate on an auto loan.
• Taxes and fees.
• Lease term. The length of the lease contract will also impact the cost of your lease.

You’ll also need to pay for comprehensive, collision, and liability auto insurance while leasing a vehicle. You may have to pay for routine maintenance and repairs depending on your lease agreement. When turning the vehicle back in, you could face end-of-lease fees for excessive mileage, excessive wear and tear, disposition, or early termination fees.

The Average Cost of a Car Lease

The actual cost to lease a vehicle will significantly fluctuate based on the factors above. However, the average lease payment for a new vehicle is $467 per month. The average monthly loan payment for a new car is $568, so the average cost to lease a car is $100 cheaper per month than financing a car through a loan.

• Check out our picks for the best cheap commuter cars 

Why Find a Cheap Lease?

While there are many advantages to leasing a car, ultimately you are renting the vehicle. Unlike a car loan, you are not paying to own the car. Unless you take the buyout option, you are merely paying to use the vehicle for the lease term. You cannot get the money you put into a lease back and for that reason, it’s wise to keep the cost of your lease down as much as possible. Fortunately, there are many excellent affordable car leasing deals available, and it is very doable to find a high-quality lease that doesn’t break the bank.

What to Look for in Cheap Lease

It’s not just about the monthly payment amount that makes it a cheap lease deal. A high due at signing amount will lower your monthly payments and a low due at signing amount will increase your monthly payments. You should find a nice balance between the two for it to be considered a cheap lease. There are plenty of advertised lease offers that have monthly payments around $250 with due at signing amounts at around $2,000.

Frequently Asked Questions

What is the cheapest car to lease right now?

There are many lease deals on new cars that have a sticker price near or under $20,000. Some of the cheapest and most popular models with lease specials are the 2020 Honda Civic ($20,000) and the 2020 Subaru Impreza ($18,695).

What is the cheapest and most reliable car?

The 2020 Honda Civic ($20,000) and 2020 Hyundai Elantra ($19,300) are a couple of the cheapest and most reliable cars. There are usually great lease deals on many other good-value and reliable cars.

What is the cheapest monthly payment for a new car?

The cheapest monthly payment for a new car can be as low as $120 per month. Some new cars like the Nissan Leaf and Hyundai Elantra have monthly payments just above $100 per month.

What is the cheapest down payment for a new car?

Car manufacturers frequently publish lease deals that advertise no money down. There may be taxes and other fees due at signing, but the cheapest down payment for a new car can be as low as $0.

How can I get a cheap car lease deal?

It’s a good idea to get multiple dealerships to compete in order to find the lowest price available. Before reaching out to dealerships for quotes, check out our top picks for the cheapest lease deals available right now.