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Best 0% APR Financing Deals For June 2021

Best 0% APR Car Deals

Best 0% APR Car DealsPaying interest can quickly dampen the excitement of buying a new car. It’s like staying in a nice hotel, turning off the lights, and then hearing an army of roaches skitter across the floor.

Interest on a $25,000 car could easily cost you an extra $3,000 over 5 years.

But not to worry, many car manufacturers are offering interest-free loans for up to 84 months. That means you’ll save up to $3,000 just by choosing one of these deals instead of the typical car loan.

Let’s take a look at this month’s best 0% APR deals and how these loans work.

Best 0% APR Financing Deals Right Now (across all vehicle types)

Here are our picks for the best APR deals for the month of June. Some include bonus cash offers as well.

Our Top Pick in Each Vehicle Class & Category

0% APR Deals on Trucks

2021 RAM 1500

RAM 1500

The best way to finance a pickup truck is with zero interest if you can get it.  Our top pick this month is the 2021 RAM 1500 with a deal of 0.0% APR for 48 months plus $1,000 in bonus cash.

See all our picks for the best 0 APR truck deals for June »

0% APR Deals on SUVs

2021 Nissan Murano

Nissan Murano

Need a little extra headroom or all-wheel drive? There are several financing specials on sport utility vehicles.  Our top pick this month is the 2021 Nissan Murano with a deal of 0.0% APR for 60 months plus $2,500 in bonus cash.

See all our picks for the best 0 APR SUV deals for June »

0% APR Deals on Luxury Vehicles

2021 Audi A5

Audi A5

It's easier to splurge on a stylish, high-end vehicle when you don't have to pay interest.  Our top pick this month is the 2021 Audi A5 with a deal of 0.0% APR for 72 months.

See all our picks for the best 0 APR luxury vehicle deals for June »

What Does 0% APR Mean When Buying a Car?

What does a 0% APR offer mean?

0 APR or zero percent financing means you pay no interest on your monthly auto loan payments which can add up to thousands of dollars saved.

When you get a car loan from a dealership or lender, they make their money by charging you interest and loan fees.  These fees are factored into your monthly payment and spread out across the life of the loan.

The annual percentage rate (APR) is the percent of all your payments over a year that goes towards interest and fees.  The higher the APR, the higher your monthly payment.

If a dealership offers a promotional 0% APR loan, they are waiving their loan fees and interest as an incentive to get you to buy a car. 100% of every payment you make will be applied to your loan principal.

Is 0% APR Worth It?

0% APR financing can save you a lot of money on your car purchase since you're not paying any interest on the car loan. The average price of a car is around $36,000 and with 0% financing over 60 months, monthly payments come out to around $600. If we applied the average APR of 4.96%, the monthly payment on the vehicle rises to $678 a month, or $4,700 in interest payments over 60 months.

Is 0% a good deal?

0% APR offers can save you thousands of dollars in interest payments over the life of the car loan, but you should be wary of the reason the dealer is offering them. If you read the fine print, you'll realize that most zero APR offers will require you to be a well-qualified buyer with excellent credit and you cannot combine with other offers.

What's the catch with zero percent car loans?

Is 0% APR a good deal?

While 0% APR loans can be a good deal, there’s also a catch to consider. Once the dealer gets you in the door with the zero APR loan offer, you may find that it’s more of a bait-and-switch, with the offer only applying to very specific models and packages that have limited stock available.

Dealerships can offer zero interest car loans because they make money on the sale in other ways, like a higher car price, or add-ons in the Finance Office with things like gap insurance or extended warranties. And sometimes the catch is that the low APR may only apply up to a certain amount requiring you to make a bigger down payment else pay a higher APR for anything above the limit.

Additionally, you can often only choose either 0 APR OR cashback, not both. Learn more about choosing between low APR or cashback.

Can you Get Zero Percent Financing on Used Cars?

0 APR used car deals are rare, but not unheard of.  Typically, this type of incentive is only offered on new cars.  One exception is Volkswagen, which has been running 0% APR financing for 60 months on their CPO (certified pre-owned) during the COVID crisis.

Occasionally, a dealership will advertise a no-interest deal on a used vehicle, but these are very hard to find.  A better approach to is focus on negotiating the sales price of the used car you want and then get competitive financing from a bank or credit union.

How to Get a 0% APR Car Loan

In most cases, low APR loans have strict requirements that can be difficult to meet. Typically, you’ll need to have excellent credit, but you must look carefully at the advertised deals to know what the qualifications are.

What credit score do you need to get 0% financing?

What credit score do you need to get 0% financing?Lenders rarely advertise the minimum credit score to be eligible for 0% financing. However, you'll typically need at least a 700 credit score and a score above 720 will give you a better chance of being approved.

Monitor monthly incentives

Part of getting an appealing low APR car loan is to carefully monitor monthly incentives. Most manufacturers change their offers at the beginning of every month with incentives on different models.

Bookmark this page to check for the monthly updated deals, or sign up for the Car Deals Early access list at the footer of this page to get notified by email.

All 0% Finance Deals for June 2021

Below is a list of all the current 0% APR deals offered by each manufacturer right now.

YearMakeModelBest Avail. APRLengthCash BonusExpiration
2021AcuraILX0.00%24-36 months7/6/2021
2021AcuraTLX0.00%24-36 months7/6/2021
2020AudiA40.00%72 months6/30/2021
2020AudiA50.00%72 months6/30/2021
2020AudiA60.00%72 months6/30/2021
2020AudiA70.00%72 months6/30/2021
2020AudiA80.00%72 months6/30/2021
2020AudiA8 E0.00%72 months6/30/2021
2020AudiQ30.00%72 months6/30/2021
2020AudiQ50.00%72 months6/30/2021
2020AudiQ5 e0.00%72 months6/30/2021
2020AudiQ70.00%72 months6/30/2021
2020AudiQ80.00%72 months6/30/2021
2021AudiE-Tron0.00%60 months6/30/2021
2020AudiS40.00%72 months6/30/2021
2020AudiS50.00%72 months6/30/2021
2020AudiS60.00%72 months6/30/2021
2020AudiS70.00%72 months6/30/2021
2020AudiS80.00%72 months6/30/2021
2020AudiSQ50.00%72 months6/30/2021
2020AudiSQ70.00%72 months6/30/2021
2020AudiSQ80.00%72 months6/30/2021
2020AudiTT0.00%72 months6/30/2021
2021BMWi30.00%60 months6/30/2021
2021BuickEnclave0.00%72 months$5006/30/2021
2021BuickEncore0.00%72 months$5006/30/2021
2021BuickEncore GX0.00%72 months$5006/30/2021
2021BuickEnvision0.00%72 months$5006/30/2021
2021GMCAcadia0.00%72 months$2506/30/2021
2021GMCTerrain0.00%72 months$2506/30/2021
2021CadillacCT40.00%36 months$5006/30/2021
2021CadillacCT50.00%36 months$5006/30/2021
2021CadillacXT40.00%36 months6/30/2021
2021CadillacXT50.00%36 months$1,000 6/30/2021
2021CadillacXT60.00%36 months$1,000 6/30/2021
2021ChevroletBolt EV0.00%72 months6/30/2021
2021ChevroletBlazer0.00%72 months6/30/2021
2021ChevroletEquinox0.00%72 months6/30/2021
2021ChevroletSpark0.00%72 months6/30/2021
2021ChevroletTraverse0.00%72 months6/30/2021
2021ChevroletTrax0.00%72 months6/30/2021
2021ChryslerPacifica0.00%48 months6/30/2021
2021ChryslerPacifica Hybrid0.00%48 months$7506/30/2021
2020Chrysler3000.00%84 months6/30/2021
2021Chrysler3000.00%84 months6/30/2021
2020ChryslerVoyager0.00%36 months$2,000 6/30/2021
2021ChryslerVoyager0.00%72 months6/30/2021
2020DodgeChallenger0.00%72 months$1,500 6/30/2021
2021DodgeChallenger0.00%72 months6/30/2021
2020DodgeCharger0.00%72 months$1,500 6/30/2021
2021DodgeCharger0.00%72 months6/30/2021
2021DodgeDurango0.00%48 months$1,250 6/30/2021
2020DodgeJourney0.00%72 months$1,000 6/30/2021
2020DodgeGrand Caravan0.00%72 months$1,500 6/30/2021
2020FordEdge0.00%60 months$4,250 7/6/2021
2020FordExpedition0.00%72 months$1,250 7/6/2021
2020FordFusion0.00%72 months7/6/2021
2020FordFusion Hybrid0.00%60 months7/6/2021
2021HondaHR-V0.00%24-48 months7/6/2021
2021HondaOdyssey0.00%24-36 months7/6/2021
2021HondaPilot0.00%24-48 months7/6/2021
2021HondaPassport0.00%24-36 months7/6/2021




YearMakeModelBest Avail. APRLengthCash BonusExpiration
2021HyundaiElantra0.00%60 months$5007/6/2021
2021HyundaiElantra Hybrid0.00%60 months$1,000 7/6/2021
2020HyundaiIoniq Hybrid0.00%72 months$2,000 7/6/2021
2021HyundaiIoniq Hybrid0.00%60 months$5007/6/2021
2021HyundaiKona0.00%60 months$5007/6/2021
2020HyundaiSanta Fe0.00%72 months$1,000 7/6/2021
2021HyundaiSonata0.00%60 months$1,000 7/6/2021
2020HyundaiSonata Hybrid0.00%72 months$1,500 7/6/2021
2021HyundaiSonata Hybrid0.00%60 months$1,000 7/6/2021
2021HyundaiTucson0.00%60 months$5007/6/2021
2021HyundaiVeloster N0.00%60 months7/6/2021
2021InfinitiQ500.00%72 months7/6/2021
2021InfinitiQ600.00%72 months7/6/2021
2021InfinitiQX500.00%72 months7/6/2021
2020InfinitiQX600.00%72 months7/6/2021
2021InfinitiQX800.00%72 months7/6/2021
2021JaguarF-Type0.00%24-72 months6/30/2021
2020JaguarI-Pace0.00%24-72 months6/30/2021
2021JeepCherokee0.00%48 months$1,000 6/30/2021
2021JeepCompass0.00%48 months$5006/30/2021
2021JeepGrand Cherokee0.00%48 months$1,750 6/30/2021
2021JeepRenegade0.00%48 months$5006/30/2021
2021KiaForte0.00%60 months7/6/2021
2020KiaNiro0.00%66 months7/6/2021
2021KiaNiro0.00%60 months7/6/2021
2020KiaNiro Plug-In Hybrid0.00%66 months7/6/2021
2021KiaNiro Plug-In Hybrid0.00%60 months7/6/2021
2020KiaNiro EV0.00%66 months7/6/2021
2021KiaRio0.00%60 months7/6/2021
2021KiaRio 5-Door0.00%60 months7/6/2021
2021KiaSoul0.00%60 months7/6/2021
2021KiaSportage0.00%66 months7/6/2021
2022KiaSportage0.00%60 months7/6/2021
2021KiaStinger0.00%66 months7/6/2021
2022KiaStinger0.00%60 months7/6/2021
2021KiaK50.00%60 months7/6/2021
2020LincolnNautilus0.00%72 months7/6/2021
2021MazdaCX-50.00%36 months6/30/2021
2021MazdaCX-90.00%60 months6/30/2021
2021MazdaCX-300.00%36 months6/30/2021
2021Mazda60.00%60 months6/30/2021
2022MitsubishiEclipse Cross0.00%48 months$2506/30/2021
2020MitsubishiOutlander Phev0.00%60 months$1,000 6/30/2021
2021MitsubishiOutlander Phev0.00%48 months$5006/30/2021
2020MitsubishiOutlander0.00%60 months$1,000 6/30/2021
2020MitsubishiOutlander Sport0.00%60 months$7506/30/2021
2021MitsubishiOutlander Sport0.00%48 months$5006/30/2021
2020MitsubishiMirage0.00%60 months$7506/30/2021
2021MitsubishiMirage0.00%48 months$5006/30/2021
2020MitsubishiMirage G40.00%60 months$5006/30/2021
2021MitsubishiMirage G40.00%48 months$2506/30/2021
2020NissanFrontier0.00%60 months$1,500 7/6/2021
2021NissanFrontier0.00%60 months$5007/6/2021
2020NissanKicks0.00%36 months7/6/2021
2020NissanLeaf0.00%72 months$7,000 7/6/2021
2021NissanLeaf0.00%72 months$6,000 7/6/2021
2020NissanMaxima0.00%36 months7/6/2021
2021NissanMurano0.00%60 months$2,500 7/6/2021
2021NissanRogue Sport0.00%60 months$5007/6/2021
2021RAM15000.00%48 months$1,000 6/30/2021
2021RAM1500 Classic0.00%48 months$1,750 6/30/2021
2020SubaruAscent0.00%63 months6/30/2021
2021SubaruAscent0.00%6/30/2021
2020SubaruCrosstrek0.00%6/30/2021
2020SubaruForester0.00%63 months6/30/2021
2021SubaruForester0.00%6/30/2021
2020SubaruImpreza0.00%63 months6/30/2021
2021SubaruImpreza0.00%6/30/2021
2020SubaruLegacy0.00%63 months6/30/2021
2021SubaruLegacy0.00%63 months6/30/2021
2020SubaruOutback0.00%63 months6/1/2021
2021SubaruOutback0.00%6/30/2021
2021ToyotaAvalon Hybrid0.00%60 months7/6/2021
2021VolkswagenAtlas0.00%60 months6/30/2021
2021VolkswagenAtlas Cross Sport0.00%60 months6/30/2021
2021VolkswagenGolf0.00%60 months6/30/2021
2021VolkswagenGolf GTI0.00%60 months6/30/2021
2021VolkswagenJetta GLI0.00%60 months6/30/2021
2021VolkswagenJetta0.00%60 months6/30/2021
2021VolkswagenPassat0.00%60 months6/30/2021
2021VolkswagenTiguan0.00%60 months6/30/2021
2021VolkswagenArteon0.00%72 months6/30/2021

These offers may vary based on location, credit score, and financing terms and are not guaranteed.  So use my free service to Check Discount Car Prices to get the best prices that include current manufacturer offers and incentives.

Frequently Asked Questions

What car dealers are offering zero-percent financing?

Buick, Chevy, Hyundai, Nissan, and more.

Can you get both 0 APR and no money down?

While it would be ideal to get both, typically you cannot get both 0 APR and no money down. Most times, you will only be able to get one or the other, and it would be highly unusual for you to find them both available together.

Is there a catch to 0% APR car deals?

Sometimes APR deals are tied to buying a car at a non-negotiable price or have a short loan term like 24 or 36 months.  But if you look closely, sometimes you can find good deals without a catch.

Is a 72-month car loan bad?

72 and 84-month loans are worse than shorter loans.  The longer the loan term, the more you’ll end up paying in interest over the life of the loan.  However, if you have 0% APR, a longer loan can be good because you’re not paying any interest at all.

What does 0 APR for 60 months mean?

Zero APR means you pay 0% interest on your car loan.  60 months is the duration of the loan (and the total number of monthly payments).

Is it better to finance a car through a bank or the dealership?

You can get a loan through dealer financing or through your bank or credit union.  Go with whoever offers you the best lending terms unless getting a loan is tied to a discount on the price of a car. Learn more about financing through a bank or dealership.

Does 0% APR hurt your credit?

No, it’s just the interest rate on an auto loan and doesn’t have anything to do with your credit.

Best Lease Deals With No Money Down [June 2021 Edition]

best lease deals with zero down
best lease deals with zero down

One advantage of leasing a vehicle is that it generally requires a lower initial investment compared to buying. You can save even more by taking advantage of a zero down payment deal.

Also, by paying a low or no down payment, you lose nothing if the leased vehicle is stolen or totaled in the first few months.

Below we share our picks for the best lease offers with no upfront payment.

Want more lease deals? You’re in the right place for the latest zero down deals.  But if you want even more options, we also collect all types of lease deals across all brands and vehicle types.

Best Lease Deals With Zero Down Payment (or Low Payment)

Here's our picks for the best zero down lease deals this month. We also included a few lease offers with very low down payments as well. Most of these specials are available until the end of the month.

IONIQ Hybrid#1 Deal: 2020 Hyundai IONIQ Hybrid

Lease Deal: $179/month for 36 months, $999 due at signing

Check Hyundai IONIQ Hybrid Prices


 

Nissan Leaf#2 Deal: 2021 Nissan Leaf

Lease Deal: $199/month for 36 months, $1,149 due at signing

Check Nissan Leaf Prices


 

2020 Chevrolet Bolt EV#3 Deal: 2021 Chevrolet Bolt EV

Lease Deal: $269/month for 39 months, $269 due at signing

Check Chevrolet Bolt EV Prices


 

Buick Encore GX#4 Deal: 2021 Buick Encore GX

Lease Deal: $246/month for 24 months, $246 due at signing

Check Buick Encore GX Prices


 

YearMakeModelLease OffersExpiration
2020HyundaiIoniq Hybrid$179/month for 36 months, $999 due at signing7/6/2021
2021NissanLeaf$199/month for 36 months, $1,149 due at signing7/6/2021
2021ChevroletBolt EV$269/month for 39 months, $269 due at signing*6/30/2021
2021BuickEncore GX$246/month for 24 months, $246 due at signing*6/30/2021
* Buick lease deals only apply to current lessees of a 2019 or newer GM vehicle
* Chevrolet lease deals only apply to current lessees of a 2016 or newer GM or non-GM vehicle

 

Cheapest Car to Lease No Money Down (or Low Payment)

A few zero down deals happen to be on some of the most affordable cars on the market. This combination means a low upfront cost and low monthly payments. Check out our pick for the cheapest car to lease with no money down below.  Or read about all our cheap lease deal picks.

IONIQ Hybrid

Top Pick: 2020 Hyundai IONIQ Hybrid
Lease Deal: $179/month for 36 months, $999 due at signing

Check IONIQ Hybrid Prices


 

Cheapest SUV to Lease No Money Down (or Low Payment)

So what is the cheapest SUV to lease with no money down? Out of all these SUVs, we selected the 2021 Buick Encore GX

Buick Encore GX

Top Pick: 2021 Buick Encore GX*
Lease Deal: $246/month for 24 months, $246 due at signing

Check Encore GX Prices


 

Best Lease Deal Under $300 With No Money Down (or Low Payment)

We make our picks for the best lease deals under $200 here, but what is the best under $300 lease deal with no (or low) money down? Out of all the lease deals, we selected the 2021 Nissan Leaf

Nissan Leaf

Top Pick: 2021 Nissan Leaf
Lease Deal: $199/month for 36 months, $1,149 due at signing

Check Leaf Prices

Zero Down Lease Deals on Trucks

Manufacturers do not advertise zero down deals on trucks as frequently as cars.  Perhaps because trucks are in high demand and one of the fastest growing classes of vehicles.

But don’t fret.  Regardless of whether deals are advertised, you can often negotiate a zero down deal on either a car or truck.  And there are plenty of other lease deals on trucks available.

Sign and Drive Lease Deals

Made popular by Volkswagen, sign and drive leases usually involve no out-of-pocket expenses at closing.  The dealer will roll all costs into your monthly payment so that you do not pay anything that day.  You literally sign the paperwork and then drive off the lot with your new car.

Are sign and drive lease deals the same as zero down? Sign and drive is just one type of zero down offer.  While sign and drive typically means nothing is due upfront, some zero down deals have costs at closing like a deposit of the first month’s payment and fees.

What Other Manufacturers Offer a Zero Down Lease?

Even if a manufacturer does not have any advertised zero down-payment deals, almost all of them are willing to forgo a down payment if you have good credit.  Check out my guide to learn how to negotiate a lease to not pay anything up front.

Zero Down Lease Guide

Frequently Asked Questions

Are there any car leases with no money down?

Yes, manufacturers are offering a variety of zero down lease deals right now. And sometimes you can negotiate zero down for other models if you have good credit.

Who is offering leases with zero down payment?

Many popular manufacturers like Honda, Hyundai, and Nissan periodically offer lease deals with no down payment required. Manufacturers consistently release deals each month that have zero or very low due at signing amounts.

How do I lease a car for zero down?

Lease terms are typically negotiable so you can sometimes ask a car dealer to transfer your down payment into higher monthly payments.  Learn more about how to negotiate a lease.

Should I put a down payment on a lease?

One of the main advantages of leasing is the low up-front costs, but keep in mind that a zero down lease will raise your monthly payment since you are not pre-paying some of the lease obligation.

What is 'due at signing' on a lease?

The due at signing amount typically consists of the first month’s payment, security deposit, acquisition fee, and any state taxes. It’s important to read the details before leasing, even with advertised $0 down there may be applicable taxes and fees. Learn how zero down leases work.

What credit score do I need for a zero down deal?

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 a zero down deal.

How much should I put down on a lease?

When leasing a car, the dealer or manufacturer may set a predetermined due at signing amount. There isn't much leeway on what you can put down on a lease, so expect to pay that amount. You can learn more about how much money to put down on a car here. However, if you have very good credit and make enough annually, you may be able to negotiate a zero down lease deal with higher monthly payments.

Cheapest Lease Deals For June 2021

cheapest lease deals

cheapest lease dealsOne of the benefits of leasing compared to buying a new car is the low up-front cost. But today we're going to look at the lowest of the low.

We take into account the monthly payment and the amount due at signing in order to pick our favorites. There are plenty of offers from popular car manufacturers that advertise low monthly payments, but the "due at signing" amount is usually higher.

When the down payment on the vehicle is higher, the monthly payment amount usually gets smaller. So our picks for the cheapest lease deals are all affordable options that balance the total cost of the new vehicle.

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.

Cheapest Lease Deals Right Now

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

2021 Subaru Impreza#1 Deal: 2021 Subaru Impreza

Lease Deal: $199/month for 36 months, $1,999 due at signing

Check Subaru Impreza Prices


 

Nissan Leaf#2 Deal: 2021 Nissan Leaf

Lease Deal: $199/month for 36 months, $1,149 due at signing

Check Nissan Leaf Prices


 

IONIQ Hybrid#3 Deal: 2020 Hyundai IONIQ Hybrid

Lease Deal: $179/month for 36 months, $999 due at signing

Check Hyundai IONIQ Hybrid Prices


 

YearMakeModelLease OffersExpiration
2021SubaruImpreza$199/month for 36 months, $1,999 due at signing6/30/2021
2021NissanLeaf$199/month for 36 months, $1,149 due at signing7/6/2021
2020HyundaiIoniq Hybrid$179/month for 36 months, $999 due at signing7/6/2021

Cheapest Car to Lease

So what is the cheapest car to lease? Out of all these low-priced cars, we selected the 2021 Nissan Leaf

Nissan Leaf

Top Pick: 2021 Nissan Leaf
Lease Deal: $199/month for 36 months, $1,149 due at signing

Check Nissan Leaf Prices

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.

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. 

Best Lease Deals For June 2021

Best Lease Deals

Best Lease DealsMany manufacturers are offering lease deals and incentives this month on 2020 and 2021 models for all different types of vehicles.

Let's break down these offers by category and highlight some of the best lease deals right now.

Best Lease Deals Right Now (across all vehicle types)

Here's our picks for the best vehicle lease deals for the month of June.

YearMakeModelLease OffersExpiration
2021ToyotaCorolla$169/month for 36 months, $2,999 due at signing7/6/2021
2021NissanLeaf$199/month for 36 months, $1,149 due at signing7/6/2021
2021FordRanger$262/month for 36 months, $2,889 due at signing7/6/2021
2021RAM1500$299/month for 36 months, $3,899 due at signing6/30/2021
2021FordBronco$286/month for 48 months, $3,286 due at signing7/6/2021
2021SubaruCrosstrek$229/month for 36 months, $2,429 due at signing6/30/2021
2021InfinitiQ50$389/month for 39 months, $3,599 due at signing7/6/2021
2021BMWX3$419/month for 36 months, $5,399 due at signing6/30/2021
2022HondaOdyssey$369/month for 36 months, $3,299 due at signing7/6/2021
2020HyundaiIoniq Hybrid$179/month for 36 months, $999 due at signing7/6/2021

Our Top Pick in Each Vehicle Class & Category

Zero Down (or Low Payment) Lease Deals

IONIQ Hybrid

Hyundai IONIQ Hybrid

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 2020 Hyundai IONIQ Hybrid with a deal of $179/month for 36 months, $999 due at signing.

See all our picks for the best zero down lease deals for June »

Lease Deals Under $200 per Month

2021 Honda HR-V

Honda HR-V

You can find many affordable lease deals for under two hundred dollars per month. Our top pick this month is the 2021 Honda HR-V with a deal of $159/month for 36 months, $3,199 due at signing.

See all our picks for the best lease deals under $200 per month for June »

Cheapest Lease Deals

2021 Subaru Impreza

Subaru Impreza

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 2021 Subaru Impreza with a deal of $199/month for 36 months, $1,999 due at signing.

See all our picks for the cheapest lease deals for June »

Truck Lease Deals

2021 Ford Ranger

Ford Ranger

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 2021 Ford Ranger with a deal of $262/month for 36 months, $2,889 due at signing.

See all our picks for the best truck lease deals for June »

SUV Lease Deals

Ford Bronco

Ford Bronco

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 2021 Ford Bronco with a deal of $286/month for 48 months, $3,286 due at signing.

See all our picks for the best SUV lease deals for June »

Minivan Lease Deals

2021 Honda Odyssey

Honda Odyssey

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 2022 Honda Odyssey with a deal of $389/month for 36 months, $3,599 due at signing.

See all our picks for the best minivan lease deals for June »

Luxury Lease Deals

2021 Infiniti Q50

Infiniti Q50

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 2021 Infiniti Q50 with a deal of $389/month for 39 months, $3,599 due at signing.

See all our picks for the best luxury vehicle lease deals for June »

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.

The Ultimate Guide to Car Discounts for Teachers and Educators

car discounts for educators

car discounts for educatorsGM manufacturers including Chevrolet, Buick, GMC, and Volvo all offer discounts to teachers and educators. The discounts can be as high as $5,500, but cash back amounts vary from vehicle to vehicle. Volvo started offering teacher incentives for 2021.

These deals apply to select new 2020 or newer vehicles, ranging from SUVs, sedans, pickup trucks and cargo vans. Educators can apply this discount to a purchase or lease and they can be combined with most other current incentives.

Let's take a closer look at how to qualify and the requirements for each of these teacher savings programs. At the bottom we also list all the current discounts for educators offered by each manufacturer.

How to Qualify for a Teacher Discount

how to qualify for a teacher car discountTo qualify for a teacher car discount you have to either work in the educational field or have a parent that does.

GM offers the Educator Discount to a wide range of members of a public or private school, university, or college. This includes:

  • Educators
  • Administrators
  • Faculty
  • Support Staff

You can also share this special offer with your spouse and dependent children. A dependent child qualifies as:

  • Under 21 years of age
  • Full-time student under 25 years of age

What to Bring to the Dealership

Before heading to your local authorized dealership, GM requires an authorization number which can be obtained through their site. Once you have an authorization number, you must bring the code and these other documents as proof of eligibility:

  • Copy of school ID/badge
  • Copy of current pay stub (within last 30 days)
  • Copy of driver’s license

As an educator, you can purchase or lease up to two new vehicles per year with the GM Educator Discount.

Best Discounts for Teachers & Faculty

Below are some of the best car deals for teachers, administrators, faculty, and support staff.

ManufacturerProgram NameSpecial Offers & DiscountsEligibility & RequirementsExpiration
BuickGM Educator DiscountUp to $1,500 off purchase/lease on 2020 or newerCurrent employee of public, private, university, or college1/3/22
ChevroletGM Educator DiscountUp to $1,500 off purchase/lease on 2020 or newerCurrent employee of public, private, university, or college1/3/22
GMCGM Educator DiscountUp to $1,500 off purchase/lease on 2020 or newerCurrent employee of public, private, university, or college1/3/22
VolvoVolvo Teachers OfferEmployee Pricing, Up to $1,000 off purchase or $500 off leaseCurrent educators1/4/22




These offers may vary based on location, credit score, and financing terms and are not guaranteed.  So use my free service to Check Discount Car Prices to get the best prices that include current manufacturer offers and incentives.

Frequently Asked Questions

What car companies give teacher discounts?

All the GM family of car brands offer discounts.  That includes Chevy, Buick, GMC.

How much is a teacher discount?

Discounts range from $1,500 to as high as $5,500 depending on the brand.

How long must you be a teacher to qualify?

Length of employment does not matter as long as you can prove you're currently a teacher or faculty and can show a pay stub.

Do family members get the teacher discount?

Spouses and dependent children both qualify for the discount.

Does Honda, Toyota, or Nissan have teacher discounts?

None of these brands currently offer discounts at the national level.  Although some dealerships may occasionally run local promotions.

When is the best month to buy a car?

Best Month to Buy a Car

If you have the flexibility, you can find extra savings buying a car at the right time. It’s always a good idea to get prices from several car dealers, but if you time your purchase you can get even bigger savings.

Some months are actually better than others for getting a deal. Here are some factors throughout the year to put in your calendar.

The best month to buy a car is December, with especially good deals during the week between Christmas and New Years.  Dealerships are empty and salesmen need to hit their monthly, quarterly, and year end sales goals.

Months with Holiday Weekends mean dealership events

Holiday Weekends and Dealership EventsSix months of the year have holiday weekends like 4th of July and Labor Day. Dealerships know customers have an extra day off on these weekends to go shopping so they create promotions to entice visitors including cash-back deals or special financing.  Many dealerships that are normally closed on Sundays stay open during holiday weekends (unless barred by state laws).

Many dealerships also have weekend incentives for the salesmen who are able to sell the most vehicles.  This sometimes means they are willing to offer bigger discounts to you in order to reach their company bonus.

On most holidays, dealerships will be open and hungry for car shoppers with the exception of Thanksgiving and Christmas. But in the days following both of those two holidays dealerships typically run big specials that make up for lost time .

September and October have End of Model Year deals

Endof Model Year Car DealsIn September and October, many manufacturers are trying to get their old models off the lot to make room for next year’s models. Car buyers always want the latest model, especially if there are significant changes like a new body style, so dealers are under pressure to sell off old models.

Related: Infographic of the best time to buy a car

Wait till salesman get their quotas

Car Sales Goals Equal Big BonusesMost people are aware that waiting until the end of the month to buy a car is a good strategy because salesmen have monthly sales quota to meet. But did you know that salesmen also have quotas at the end of each quarter as well?

Timing your purchase until the end of March, June, September, and December could mean you catch dealers when they are eager to sell in order to earn a bonus check.

December has End of Year discounts

End of Year Car DealsCar salesman and dealerships also get sales incentives at the end of the financial year. Couple that with the holiday week between Christmas and New Years and you get one of the best weeks of the whole entire year to buy.

Also Read: When is the best time to lease a car?

When is the worst month to buy a car?

Worst Month to Buy a CarThe Spring is the worst time to buy a car for a few reasons.

Warmer weather means people finally get outdoors to do the car shopping they’ve been putting off during the winter.  And in April, some people see tax refunds as a financial windfall that could be spent on big purchases like a new car.  There are also no holiday weekends to drive dealership traffic (except Easter which is not known for car sales).

More car buyers means salesmen don’t need to offer as many deals to entice visits. So March and April are the worst months for deals.

Breakdown of Best Deals by Month

MonthMonth Savings RankKey Dates
JanuaryAverage
FebruaryGoodPresident's Day Weekend
MarchPoorEnd of quarter
AprilPoor
MayBestMemorial Day Weekend
JuneAverageEnd of quarter
JulyGoodFourth of July Weekend
AugustAverage
SeptemberBestLabor Day Weekend + End of quarter
OctoberGoodModel Year End Closeout
NovemberGoodBlack Friday + Cyber Monday
DecemberBestHoliday Week + End of Quarter + End of Year

Coronavirus Car Payment Assistance Programs

Coronavirus car discounts and financing

COVID19 Coronavirus Relief ProgramsAlmost all major car manufacturers are offering payment relief programs during the COVID-19 pandemic. They are offered in the form of deferred payments on new vehicles, payment extensions, and lease extensions. Many will also waive any late fees for an extended period of time. (these are discounts for everyone, not to mention those discounts for first responders)

If your local and state government have deemed transportation as an essential need, most dealer service operations for repair and maintenance should be open.

Tip: To truly get a good deal, you’ll want to get prices from several dealerships. (click the orange button above and Get Prices).

Below we will give an overview of each car manufacturer's Coronavirus payment relief program, available to new and current customers.

Acura COVID-19 Hardship Help

Current Customers: The Hardship Help program for current Acura Financial Services account holders can get payment extensions, deferrals, and late fee waivers.

Prospective Customers: A 90-day deferred payment program is available to new and used car buyers. A Loyalty Purchase Assistance Cash deal of $500 is available on any new Acura model.  Acura is currently offering first responders and healthcare professionals up to $750 off a purchase or lease on any 2020 or newer model. You can also buy an Acura online through their "Precision Purchase" program.

Audi COVID-19 Assistance

Current Customers: Audi's Financial Services are open and accessible to customers that need financial assistance.

Prospective Customers: Audi is waiving the first monthly payment (up to $750 value) for new customers.

BMW Coronavirus Response

Current Customers: BMW's Customer and Financial Services are available to customers that need assistance due to the COVID-19 pandemic. Customers may be eligible for a modified payment plan.

GM (Buick, Cadillac, Chevrolet, GMC) Coronavirus Response

Current Customers: GM Financial customers (Buick, Cadillac, Chevrolet, and GMC) that are affected by COVID-19 are encouraged to message through the mobile app or contact 1-800-284-2271 for assistance. Current owners have OnStar Crisis Assist services for a limited time and complimentary in-vehicle data for Wi-Fi equipped vehicles; 3GB or three months, whichever comes first. GM is offering customers the ability to shop online and take delivery at home from a participating dealership.

Prospective Customers: Through GM’s “Shop. Click. Drive” Program, you can shop and arrange the car purchase online. Some dealers also offer to deliver the vehicle to your home.

Fiat-Chrysler (Chrysler, Dodge, Jeep, RAM) COVID-19 Response

Current Customers: There are flexible payment options and payment extensions available to current Chrysler, Dodge, and Jeep customers on a case-by-case basis.

Prospective Customers: There may be options to defer payments for 90 days on select models if financed through Chrysler Capital or Ally Financial.

Ford Motor Company (Ford, Lincoln) COVID-19 Assistance Program

Current Customers: Ford and Lincoln customers are encouraged to call Ford Credit to discuss options if they are going through financial hardship. The special hotline number is 1-800-723-4016

Prospective Customers: Ford is now offering remote shopping tools to customers at participating Ford dealers. Some may even offer delivery options.

Ford Promise Vehicle Return Program

The Ford Promise program allows customers to return a vehicle within one year of purchase if they experience financial hardship due to involuntary loss of employment. The Ford vehicle buy-back program will cover:

  • 2019/2020/2021 new, used, or CPO vehicles that have been leased or purchased through Ford Motor Credit between June 26th, 2020 and September 30th, 2020.
  • Up to $15,000 waived/paid with the customer responsible for the remaining balance

To qualify, customers must have been approved for state unemployment benefits and must notify the Claims Administrator within thirty days of involuntary job loss. Customers experiencing self-employed personal bankruptcy are also eligible for Ford Promise.

Honda COVID-19 Hardship Help

Current Customers: Payment extensions, deferrals, and late fee waivers are available through Honda's Hardship Help program.

Prospective Customers: New customers can defer payments for 90 days on the purchase or lease of select new models. Honda is now offering up to $500 off a purchase or lease of a new vehicle to healthcare professionals.

Hyundai Coronavirus Relief Program

Current Customers: Current Hyundai customer can defer payments for up to three months if they lose their job or face medically-related hardships before December 31st, 2020. The Hyundai Assurance Job Loss Protection program will waive up to six months of payments for new owners who have lost their job that purchased or leased a vehicle before December 31st, 2020. Hyundai will also extend any qualifying warranty that ends between March and June 2020 until June 30th, 2020.

Prospective Customers: Customers have the option to delay payments for 120 days. Hyundai also offers the ability to purchase a new vehicle online and some dealers will deliver the vehicle to your home. The "Clean Assurance" program promotes new safety guidelines for Hyundai dealerships.

Infiniti COVID-19 Response Program

Current Customers: Infiniti customers that are going through financial hardship are encouraged to call or email Infiniti Financial Services to discuss payment alternatives.

Prospective Customers: Infiniti is now offering no payments for up to 90 days on a purchase or lease on any 2020 model. New customers can get 0% APR financing for 72 months on all 2020 models.

Jaguar COVID-19 Response

Current Customers: Returning Jaguar lessees can get their first two payments of up to $750 waived if financed through Jaguar Financial Group. Jaguar is also offering its lessees the option to extend their lease agreement for up to 6 months.

Prospective Customers: The Jaguar Deferment Program allows eligible customers to defer their payments for up to 90 days. This can be applied to all new 2020 models.

Kia Coronavirus Response Program

Current Customers: Kia customers should check with local dealers for special payment assistance options. Some dealers have special concierge services and loaner vehicle programs to assist you.

Prospective Customers: New buyers may have the ability to complete their purchase online.

Land Rover COVID-19 Response

Current Customers: Returning Land Rover lessees can get their first two payments of up to $750 waived if financed through Land Rover Financial Group. Land Rover is also offering its lessees the option to extend their lease agreement for up to 6 months.

Prospective Customers: The Land Rover Payment Deferment Program allows eligible customers to defer their payments for up to 90 days.

Lexus COVID-19 Assistance Program

Current Customers: Lexus customers going through financial hardship due to the global pandemic are encouraged to call Lexus Financial Services at 800-874-7050 to discuss payment relief options.

Mazda COVID-19 Response Program

Current Customers: Mazda is encouraging its customers to contact Mazda Capital Services for any financial relief. Current Mazda owners can get up to $1,500 off when they purchase or lease any new Mazda.

Prospective Customers: New customers can get 0% APR on most models and Mazda is offering a 90-day deferred payment program.

Mercedes-Benz COVID-19 Response

Current Customers: Customers are encouraged to call Mercedes-Benz Financial Services at 800-654-6222 for any financial assistance related to the Coronavirus pandemic.

Mitsubishi COVID-19 Financial Support

Current Customers: Mitsubishi customers who financed through Ally can contact them to defer payments for up to 120 days.

Prospective Customers: New buyers can finance a new vehicle through Ally and defer payments for up to 90 days.

Nissan Coronavirus Assistance Program

Current Customers: Nissan and NMAC Customer Service are available at 1-800-456-6622 to assist customers and discuss payment arrangements.

Prospective Customers: Nissan is offering new customers the option to defer monthly payments for up to 90 days. The manufacturer will also cover payments for up to two additional months.

Porsche COVID-19 Response

Current Customers: Impacted Porsche customers are encouraged to send a secure message through their PFS Account for financial assistance.

Subaru COVID-19 Response Program

Current Customers: Current Subaru lessees can extend their lease agreements for up to 6 months.

Prospective Customers: New Subaru customers can get 0% APR for 63 months on 2020 Ascent, Forester, Outback, Legacy, and Impreza models. Buyers also have the option to defer payments for up to 90 days.

Toyota COVID-19 Response Program

Current Customers: Toyota Financial Services is offering payment relief options to customers who are affected by COVID-19. Qualified lease and finance customers can get payment extensions or lease deferred payments. They are also offering assistance to customers who are nearing the end of their lease period.

Prospective Customers: Toyota will also defer payments for up to 90 days. Every new Toyota will come with ToyotaCare, which is a no-cost maintenance plan for 2 years or 25,000 miles.

Volkswagen COVID-19 Response

Current Customers: Volkswagen customers are encouraged to visit the Volkswagen Credit website if they are impacted by COVID-19. Existing customers can defer their payments for up to 90 days without fees.

Prospective Customers: Most new VW models come with 0% APR for 72 months and there is also an option to defer the first month's payment for 120 days. Eligible customers who lost their job due to economic reasons can get up to 6 months of payments (of up to $750 per month) waived.

Volvo COVID-19 Response

Current Customers: Customers going through financial hardship are encouraged to call Volvo Car Financial Services to discuss payment relief options.



These offers may vary based on location, credit score, and financing terms and are not guaranteed. So use my free service to Check Discount Car Prices to get the best prices that include current manufacturer offers and incentives.

How Zero Down Leases Work [and the Trick to Get One]

Zero Down Lease Guide

Zero Down Lease GuideLeasing a new car requires a far smaller up-front investment than purchasing one. However, most leases still require you to put down money upfront....unless you know what you're doing.

So do zero down leases exist?  Yes, they really do.

The trick is that even leases not advertised as "zero down" can become zero down with some negotiation.

This guide will breakdown how zero down leases work and how you can negotiate a new car lease to avoid putting money down up front.

Looking for Deals? Here's our picks for the best zero down lease deals this June.

How Does a 0 Down Lease Work?

With a no money down lease, you skip the down payment and roll it into your monthly lease payments.  In some cases you can defer all upfront costs, but fees like registration and your first month's payment may be due at signing.  More on that later.

But let's start by looking at some leasing terminology.

Key Leasing Terms

  • Capitalized Cost: Capitalized cost (or cap cost) is the sales price of a car being leased. It includes the car's negotiated price plus any additional costs that will be financed through the lease.  The lower the cap cost, the lower your monthly payments.
  • Capitalized Cost Reduction: This is similar to a down payment that reduces the vehicle sales price. The cap cost is reduced by any upfront cash you pay at closing plus the value of your trade-in.
  • Lease Term: This is the number of months during which you will have use of the vehicle and will pay an agreed upon monthly payment.
  • Residual Value: The residual value of the car is the amount you would pay the leasing company if you decided to buy the car at the end of the lease.
  • Depreciation: The reduction in a car's value from the beginning to the end of the lease term.  This is calculated as the difference between the cap cost (minus cap cost reduction) and the residual value.
  • Money Factor: This is the rate at which you are borrowing money.  It's the lease equivalent of the annual percentage rate (APR) when buying a car with a loan.

How does a zero down lease workWhen leasing a car, the more you pay upfront, the lower you pay in monthly payments.  The opposite holds true as well.  The less you pay upfront, the more you pay in monthly payments.

By opting for a zero down lease, most or all of your upfront payment (cap cost reduction) is rolled into your monthly payments.

Keep in mind that a 0 down lease does not always mean that you can waltz in empty-handed and drive off in a new leased car. Even with a no money down lease, you sometimes still have to pay for the sales tax, dealership fees, and the first month’s payment. However, it is possible to roll the document and dealer fees into your monthly payment.  More on the types of zero down leases below.

Benefits of a No Money Down Lease

So why put zero down on a lease? This type of lease structure is appealing because...Benefits of a zero down lease

  • Less money upfront. Signing a lease with a down payment means that you must fork over cash right off the bat. With a no money down lease, you get to spread the down payment out, so there’s less out-of-pocket cost at the beginning.
  • Sales tax is deferred. Typically, you must pay an upfront sales tax when you lease a car with a down payment. For a no money down lease, you will end up paying the same amount in taxes but spread out over time.
  • Less risk.  If the vehicle is stolen or totaled during the lease period, you will not lose out on the down payment that you made.

Drawbacks of a zero down leaseDrawbacks of a No Money Down Lease

There are also some downsides to zero down leases.

  • Higher monthly payments. Because you are deferring up front cost, your monthly payments will be higher.
  • Higher total cost. You must pay interest on the leased amount, which means you will likely end up paying more in total costs over your entire lease term if you put no money down.

Down Payment and Amount Due at Signing May Differ

Down payment versus due at signingYour down payment is not the only potential cost when you sign your lease agreement. There are also:

  • city/county/state fees
  • license and registration fees
  • the first month’s payment
  • security deposit
  • and in most states when a down payment is made, there is an upfront sales tax required

There are big differences in what you pay upfront, so let's take a closer look.

Types of No Money Down Car Leases

There are four primary types of zero-down leases. These are:

  • $0 due at signing/ sign and drive. These leases will involve no out-of-pocket expenses when you sign the lease. The car dealer will include the cash due amount into the monthly cost of your lease so that you do not pay anything that day.Types of zero down leases
  • No cap cost reduction. This kind of lease eliminates the down payment, but still includes the first month’s payment and fees.
  • No cap cost reduction and no first month’s payment. Most often, you must pay for the first month up front, however, there are some leases that eliminate this requirement. Instead, the dealer will roll your first month’s payment and down payment into the monthly cost, and you will only have to pay fees required by your state at the time of signing.
  • No down payment and dealer pays the first month. In rare cases, the dealer or lessor will cover the first month’s payment. You will not have to make a down payment, and the dealer will waive the first month’s payment so that you only have to pay the official fees.

Is a zero down lease the same as a one-pay lease?

No, a one-pay lease is the opposite of a zero down lease.  Instead you combine all the payments and make them up front in a single payment to save on interest.

How to qualify for a zero down leaseRequirements to Qualify for a $0 Down Lease

Even though dealers and manufacturers promote zero down leases, only certain customers qualify.  Your credit score is the key factor determining whether or not you qualify for a $0 down lease deal. Most lenders will require you to be a "well-qualified customer", meaning you must have a high credit score, over 680. Having your credit score at hand will help you know if you qualify for a $0 down lease. Those with poor credit can also consider getting a cosigner that has a better chance of qualifying.

In other cases, you may need a sufficient debt-to-income ratio to cover the expected monthly payments. Manufacturers have different requirements for a debt-to-income ratio, but even with good credit, some may require a fairly high annual income to give you a zero down lease.

How Can You Get a Zero Down Lease?How to get a zero down lease

Here’s how to lease a car for no money down.

Look for Published 0 Down Lease Deals

The first option is to search for advertised 0 down lease deals. Dealerships and manufacturers will usually publish zero down lease deals at the beginning of each month, so your best bet is to look around for those specials. Check out this month’s 0 down lease deals here.

How to Negotiate a Zero Down Lease

How to negotiate a zero down leaseThe majority of car leases are advertised with a down payment, but yes, you can negotiate a lease to become zero down.

Once you find a good advertised lease deal, the trick is too simply ask the dealer if they will allow it.  If you have a good credit score many will accommodate, especially since you'll be paying more interest over the lease term.

Now if the car you want doesn't have a good lease offer, negotiate the sale price first and the down payment last.

You'll get the best deal by getting prices from several dealers and then negotiating over email.  Don't tell the dealer you will be leasing up front.  After you agree on a good car price, ask the dealer to use that as the capitalized cost of a lease.  Then ask if you can roll the down payment into your monthly payments and voila....you've got your zero down lease!

Frequently Asked Questions

How do you negotiate a 0 down car lease?

Negotiating a car lease may be intimidating, but it is crucial for getting the best deal. It’s best to look for new deals each month and then have multiple dealerships compete in order to get the best price.

What does 0 due at signing mean?

0 due at signing means you will not have any out-of-pocket expense on the day you sign the lease. The cash-due fees are rolled into your overall lease cost, which means you will have a higher monthly payment.

Are lease down payments negotiable?

Lease terms are negotiable, and you can usually negotiate the down payment and total money down. With a solid credit score you may be able to drive away without putting any money down.

What credit score is needed to lease a car with no money down?

A good, strong credit score will help you qualify for a lease with no money down. Typically, we recommend a credit score of 680 or above.

How much should you put down on a lease?

There is not a set amount that you should put down on a lease. Your personal finances and preference will play a role. Keep in mind that putting more down will help reduce your monthly payments and the amount of interest you pay, but it is a larger out-of-pocket expense that you cannot get back.

How much does down payment affect lease payment?

The payment amount varies by lease terms like the money factor.  Just ask your salesman to give you lease quotes with and without a down payment so you can see the difference.

Can you lease a car with bad credit and no money down?

It is highly unlikely you’ll be able to skip the down payment if you have bad credit.  In fact, if you find a leasing company that offers bad credit leases, you’ll likely be required to pay additional cash upfront.

Are European Car Delivery Programs Worth the Effort?

Are European car delivery programs worth the money?

I’ve always been intrigued by European Car Delivery Programs.  It’s a compelling offer: sign up for a vacation to Europe, get treated like a VIP, and come home with a discount on a very big souvenir, your new luxury car.

Experts like Jon Spira tell captivating stories where you can pick up your brand new Porsche in Germany and race it on the Autobahn for less than you would’ve paid picking it up at your local dealership.

Is a European Delivery Program a Good Deal?

But are these programs worth it?  Over the past few years, manufacturers have tightened their belts and removed many of the extra perks that used to be included.

So I decided to see how European Delivery Program’s stack up against a car price you could negotiate for pick-up in the U.S.

Let’s take a look at how each manufacturers’ European deals compare to local prices.  But first…

How does a European Car Delivery Program Work?

How does European Delivery workThe idea is you buy a luxury car from Mercedes, Porsche, or Volvo (Audi, BMW, and Saab retired their programs) and pick it up at the factory in Europe.  You’ll typically get a discount on the price of the car plus a travel deal.  After you visit the factory, you can cruise around Europe for a couple weeks and drop off your car at a pre-approved location (these vary by manufacturer, but most have about 12 drop-off locations in different cities).

All programs include a factory tour and meal, international car insurance and registration for 2 weeks (about a $200 value).  When you’re done they’ll ship the car back to the U.S. for you free of charge, but keep in mind this is not the same as the destination fee (typically $895).  Mercedes is the only one to waive the destination fee as well.

Here’s the step by step process:

  1. You order a European luxury car from a U.S. dealer and put down a deposit
  2. Once the pick-up date is confirmed, you book your travel
  3. Pick-up your car a few weeks later at the factory in Europe
  4. Spend a night near the manufacturer in Germany (or Sweden for Volvo) and get a factory tour plus a meal or two
  5. Travel the country-side in your new wheels for as long as you want (insurance lasts 2 weeks, but can be extended)
  6. Drop off your car at an approved European drop-off location
  7. Accept delivery in the U.S. within 6-8 weeks (if you live on the East coast) or 8-10 weeks (if you live on the West Coast)

BMW also includes a nice perk where you can pick up your car in the U.S. at the BMW Performance Driving school in South Carolina and learn how to race on their track like a pro.

Program Details by Manufacturer

Note: BMW officially ended their European Delivery program on May 18, 2020.  Here’s why it was discontinued.

Manufacturer WebsiteMy ReviewsPrice DiscountPick-up LocationAirfareHotel
BMWBMW European Delivery Analysis5% off MSRPMunich, GermanyNot includedNot included
MercedesMercedes European Delivery Analysis7% off MSRP & destination fee waived ($925)Sindelfingen (near Stuttgart), GermanyDelta voucher of $200One night
PorschePorsche European Delivery AnalysisNo discountStuttgart or Leipzig, GermanyNot includedOne night
VolvoVolvo European Delivery Analysis2-10% off MSRPFree @ Gothenburg, Sweden, 9 other pick-up locations (transfer charge, $392-$1447)Round trip tickets for two includedOne night

Manufacturer Program Comparison

So how do the European deals compare to pricing in the States?  In the table below I started out by selecting 5 models around the $50,000 range. I figured that if you’re buying a $500,000 Maybach, you probably don’t care too much about cost, but if you’re looking at cars with one less zero, you might still want to do a little comparison shopping.

After I selected a few models, I went to Edmunds to find out what they suggest is a good target price in the States if you were to haggle with local dealers without picking up overseas.  Then I compared that to the European Delivery deals with and without travel perks.  Savings are calculated based on estimates of $700/roundtrip flight and $150/night at a hotel.  Perks like meals, factory tours, are international insurance are not included in these numbers.

ModelMSRPEdmunds True Market ValueDestination FeeTotal Expected U.S. PriceEuropean Delivery % SavingsEuropean Delivery PriceEuropean Travel SavingsEuropean Delivery Price + Travel Savings
2019 BMW 530i Sedan$53,400 $50,678 $995$51,673 5.00%$50,730 $ -$50,730
2019 Mercedes GLC Coupe$47,300 $44,573 $995$45,568 7.09%$43,945 $350$43,595
2019 Porsche Macan SUV$49,900 $47,936 $1,250 $49,186 0.00%$49,900 $150$49,750
2020 Volvo XC90 SUV$48,350 $47,625 $995$48,620 9.00%$43,999 $1,550 $42,449
*I do not guarantee the accuracy of the prices or promotional details quoted above.

My Analysis

  • My Analysis of European Delivery programsAll manufacturer programs except for Porsche are a better deal to pick-up overseas.
  • Most travel perks have been scaled back and those perks’ dollar value is nominal with the exception of Volvo’s travel package.  Although it should be noted that the value of the travel experience is exceptional for all programs.
  • The winner for best bargain is Volvo.  They are the only European manufacturer to still offer a full travel package.  Most programs used to offer two round trip tickets and hotel accommodations, but now only Volvo offers both.

Other Considerations

  • Be sure to make sure the total price of the car (with discount + vacation) is less than what you can negotiate for each separately.  If it’s cheaper to buy the car locally and rent a nice car overseas, save yourself the extra paperwork.
  • Most programs cover European fees and freight, but check for an extra charge for delivery from the U.S. drop-off to your home city. In that case, once the car is in the States, you can always shop around to have the car shipped to you at a lower price.
  • Most programs cover international vehicle insurance and registration for 15 days (about a $200 value). If you plan on staying longer coordinate extra insurance with your local dealer before you go. U.S. and Canadian insurance coverage is not valid in Europe.  If you don’t have insurance during your trip, your car could be confiscated when you cross an international border.
  • Most programs have 10-20 international drop-off locations, but coordinate in advance where you will be leaving your car when your vacation is over.
  • Do not plan to leave any personal belongings in your car as they might not make it back to the States and are not insured (even though the car is).
  • Ensure vehicle is cleaned before handing over for transport. If the car is dirty, the shipping company may refuse to load the vehicle or the EPA will steam clean the car at your expense.
  • Some programs offer the ability to buy a non-U.S. specification vehicle.  That means you may be able customize your car with some options that are only available in Europe.

Would you consider flying to Europe to pick up your next car?

European Delivery Infographic
European Delivery Program Comparison (infographic)

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Frequently Asked Questions

What’s included in European delivery?

Programs typically include a discount on car price, a European travel package, factory tour, international car insurance, and free car shipment to the States.

Is it cheaper to buy a European car in Europe?

All manufacturer programs except for Porsche are a better deal to pick-up overseas. See a full price comparison between US pick-up and European delivery.

Which manufacturers have European delivery programs?

Mercedes, Porsche, and Volvo each offer European delivery.

Who has the best European delivery program?

The best value in a European delivery package goes to Volvo.  View Volvo’s program details and the runners-up.

Does Audi offer European Delivery?

The Audi European car delivery program was discontinued at the end of 2018.

Does VW offer European delivery?

No, Volkswagen does not offer European delivery.