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Best New Car Lease Deals For April 2023
There are all kinds of reasons for needing a car over a shorter term, especially at a time when the auto industry is still undergoing supply chain woes. Buying a car outright and then selling it in a couple of years involves tying up a bunch of capital and then taking a hit on depreciation. Instead, an 18- or 24-month lease provides the stop-gap filler you need to get around right now with reduced financial exposure.
This month, we have a host of two-year lease deals across the full spectrum, from family-friendly crossovers to luxury EVs. There's something here to fill nearly every need or to try out a new type of vehicle or brand to see if it fits your lifestyle. Have you always wanted to drive a sporty pickup? Or see whether EV ownership is worth the potential charging hassles?
Check Our Leasing GuideFirst, make sure you first read our leasing guide. We've covered everything that may get glossed over in the showroom: advertising fees, money factors, residuals, legal implications, and all the other fine print that could cost you thousands more than you'd expect. When comparing similar cars, be aware that a lower monthly price often demands more money up front. As with any national lease special, enter your ZIP code on an automaker's website to check if these deals apply to your area. Prices do not include taxes or fees and may be higher or lower depending on your location. Research is always your friend.
Jessica Lynn WalkerCar and Driver
$423 per month/$3941 at signing24 months/20,000 milesThe just-released Mazda CX-90 impressed us with its upscale aspirations, including a stylish interior and a silky-smooth turbocharged inline-six engine. Mazda's main rivals here are mainstream three-row crossovers such as the Toyota Highlander, but the CX-90 feels just that little bit more special and drives with typical Mazda verve. This deal is for the base 280-hp Select trim; monthly payments for mid-trim versions of the CX-90 rise sharply.
Nissan
$339 per month/$3129 at signing24 months/20,000 milesThe Nissan Murano is aging relatively gracefully, and while it is not the most athletic crossover option out there, it's still very comfortable. The best lease here is on the base S model, which has a comprehensive list of standard features that includes a full complement of driver-assist items, including blind-spot monitoring and forward collision warning.
Cadillac
$509 per month/$4809 at signing24 months/20,000 milesThe three-row Cadillac XT6 provides a bit of Escalade glam on a much more maneuverable platform and at a more reasonable price. This 24-month lease special is for current Cadillac owners and the above figures apply specifically to the entry-level front-wheel-drive model. That said, General Motors is providing $2250 toward the lease of any XT6.
Michael SimariCar and Driver
$269 per month/$1949 at signing24 months/20,000 milesChevrolet's Equinox deal applies to current GM lessees looking for something new. And if you're a GM employee or eligible family member, you can shave off a further $10 per month and $170 off the downstroke. The Equinox isn't terribly exciting, but it is fuel-efficient, easy to drive, and a competent luggage hauler. This deal applies specifically to the well-equipped—but not loaded—Equinox LT with front-wheel drive.
Michael SimariCar and Driver
$649 per month/$5623 at signing24 months/20,000 milesThe Mercedes-Benz EQB is the ideal crossover for those looking to dip their toe into EV ownership. With a boxy shape, it's a practical family hauler. It's even available with a third-row jump seat that is useless for adults but handy if you're carpooling home part of the soccer team. This deal applies to the EQB250+, which offers an estimated driving range of 250 miles of range. That's an adequate sum for most shoppers. Plus, if you discover that an EV is not ideally suited to your lifestyle, you'll be glad to know you're only committed to this electric SUV for just 24 months.
Mitsubishi
$396 per month/$4398 at signing24 months/20,000 milesWith a 20.0-kWh battery pack, the plug-in-hybrid variant of the Mitsubishi Outlander can save you fuel on short trips thanks to its estimated battery-electric driving range of 38 miles. Then, on longer journeys, it's a useful three-row crossover that can be topped up at any gas station without much route planning. Mitsubishi's deal is on the mid-level SE model, which includes all-wheel-drive, 20-inch wheels, and navigation.
Nissan
$309 per month/$3339 at signing18 months/15,000 milesThank the Nissan Frontier's strong residuals for the affordable monthly payment on this mid-size pickup. This deal nets you a four-wheel-drive Frontier SV crew cab with the Technology package, which includes the likes of adaptive cruise control and automatic high-beam headlights.
Car and driver Lettermark logoContributing Editor
Brendan McAleer is a freelance writer and photographer based in North Vancouver, B.C., Canada. He grew up splitting his knuckles on British automobiles, came of age in the golden era of Japanese sport-compact performance, and began writing about cars and people in 2008. His particular interest is the intersection between humanity and machinery, whether it is the racing career of Walter Cronkite or Japanese animator Hayao Miyazaki's half-century obsession with the Citroën 2CV. He has taught both of his young daughters how to shift a manual transmission and is grateful for the excuse they provide to be perpetually buying Hot Wheels.
Best Car Leasing Deals 2023
Looking to lease a new car? You've come to the right place. We've scoured the market to find the best car leasing deals available right now from leading brokers, and you'll find all our top picks below.
Car leasing, or Personal Contract Hire (PCH), is a popular finance option for those wanting a brand new car at an affordable monthly price. Car leasing deals are ideal if you don't have the finances to buy a car outright, or if you simply aren't interested in owning the car at the end of the finance agreement.
Leasing deals work like a car rental and because there's no lump sum to pay at the end of the agreement and you never actually own the car, the monthly payments will usually be lower than with Personal Contract Purchase (PCP) or Hire Purchase (HP) car finance deals.
The best car leasing dealsThere are many suppliers to choose from when leasing a car, many of whom offer competitive deals on the latest models, so we've rounded up some of the best car leasing deals available right now sorted by market sector...
Small cars Family cars Family SUVs Executive and performance cars Small cars Hyundai i10 - £185.57 per monthThe Hyundai i10 is the smallest car in the brand's lineup, but it boasts plenty of big car qualities: it's refined on the road, surprisingly roomy inside and well put together. In fact, this city car is even reasonably suited to long-distance motorway journeys.
The model on offer here is in Premium trim, which adds extras such as larger 16-inch alloy wheels, heated front seats and climate control. We recommend opting for the manual gearbox, though, as the automatic is hesitant and makes the i10 considerably slower.
See the latest i10 deals at Leasing.Com
Nissan Juke - £178.21 per monthThe quirky Nissan Juke was a trendsetter for the supermini-based crossover sector, and while the second-generation car now has to face much fiercer competition, it's still very much worth considering.
The Juke shares its platform with the Renault Clio and Captur, but Nissan's engineers have tweaked it to be far stiffer on the road. As a result, the Juke handles well for a car of its size. Inside, standard kit is pretty generous on the entry-level Visia that's offered here, with a DAB radio, cruise control and traffic sign recognition all included.
See the latest Juke deals at Leasing.Com
Vauxhall Corsa - £179.11 per monthWith the impending demise of the Ford Fiesta, the Vauxhall Corsa has enjoyed several months as the UK's best-selling supermini. It's not difficult to see why it's so popular, either, as it offers strong value for money - and this also applies when leasing a Corsa.
Thanks to its light weight and updated underpinnings - which it shares with the Peugeot 208 - the latest Corsa offers a decent blend of driving enjoyment, comfort and efficiency. A reassuring amount of safety kit is included across the range, too, including automatic emergency braking and lane keeping assist.
See the latest Corsa deals at Leasing.Com
Family cars Dacia Jogger - £253.74 per monthThe Dacia Jogger may not be as visually alluring as a tall, chunky SUV, but the trade-off for this boxy shape is seven seats and up to 1,807 litres of cargo space. In fact, the Jogger is so family-friendly that we named it our Family Car of the Year for 2022.
In typical Dacia fashion, functionality and budget lead the way in the Jogger's design, so it's far from being the plushest family car on the market. Essentials such as air-conditioning, cruise control and parking sensors are all there, though, and the interior should prove sturdy enough to withstand even the rowdiest of young passengers.
See the latest Jogger deals at Leasing.Com
MG4 - £298.25 per monthMG has been on a bit of a roll with its low-cost electric cars, and after shaking up the SUV market with the ZS EV, the MG4 is now looking to steal customers away from the brand's more established hatchback rivals.
When it comes to price - whether buying or leasing - the MG4 undercuts several electric city cars, such as the Fiat 500 and Renault Zoe, even though it's a much larger hatchback. While some materials are a bit on the cheap side, there are few other noticeable compromises when compared to more expensive models, such as the Volkswagen ID.3. The MG4 can even achieve over 200 miles of battery range on the WLTP combined cycle.
See the latest MG4 deals at Lease4Less…
Skoda Octavia Estate - £284.82 per monthOur Estate Car of the Year for three years running, the Octavia does a stellar job of proving that the traditional estate is still a top family car choice, even if many drivers are continuing to flock towards SUVs.
As you'd probably expect, the Octavia offers strong levels of practicality and value for money, but it's also pleasant to drive and feels rather upmarket to sit in, too. Suspension tweaks have made the latest-generation model far more comfortable than its predecessor. All these qualities mean that the Skoda can take on almost anything from school runs to long-distance commutes with ease.
See the latest Octavia Estate deals at Leasing.Com
Family SUVs Cupra Formentor - £276.21 per monthThe Cupra Formentor offers a slightly unusual mix of hot hatch sportiness and mid-size SUV practicality. After years as a performance trim level for the SEAT Ibiza and Leon, Cupra is now a fully-fledged brand, and the Formentor was its first exclusive car.
Not only does this car look rather sporty, but it has decent performance to match - even the base 1.5-litre petrol engine offered here produces 148bhp. Although it's practical enough for a family of up to five people, the Formentor's light steering setup and agile chassis mean you can still have some fun in the corners.
See the latest Formentor deals at Leasing.Com…
Hyundai Tucson - £277.48 per monthAs part of Hyundai's ambitions to move upmarket, the fourth-generation Tucson has taken a big step up in terms of quality and styling. Its bold looks could even fool some into thinking that it's a far more expensive car.
Inside, there's a huge amount of cabin space for five passengers along with a cavernous 620 litre boot. Most of the interior materials have a high-quality feel to them - similar to those you'd find in an Audi - and the on-board tech is plentiful. We're so impressed with Hyundai's efforts that we named the Tucson our Mid-size SUV of the Year for both 2021 and 2022.
See the latest Tucson deals at Leasing.Com
Executive and performance cars Audi A5 Coupe - £359.39 per monthThe Audi A5 is one of the older members of Audi's lineup, but it's still a stylish and well-built option if you're browsing the relatively small executive coupe market.
Sharing its underpinnings with the A4 saloon, the A5 isn't quite as entertaining to drive as its appearance may suggest. On the plus side, though, it is very comfortable and should rack up motorway miles with ease. All A5s are well equipped, too, and feature Audi's Virtual Cockpit as standard.
See the latest A5 deals at Leasing.Com…
Tesla Model 3 - £449.31 per monthThe Model 3 is the cheapest car that Tesla currently makes, but it still offers class-leading amounts of battery range, performance and technology. Even the base RWD Standard Range variant on offer here delivers a healthy amount of driving fun, especially with the rapid acceleration that's synonymous with electric cars.
The Standard Range can also achieve up to 305 miles of range on the WLTP combined cycle, and this should prove plenty for most drivers. When you do need to top up, though, driving a Model 3 will also gain you access to Tesla's Supercharger Network.
See the latest Model 3 deals at Leasing.Com…
How does car leasing work?Car leasing deals work in the same way as Business Contract Hire (BCH) offers, except VAT is included. You pay an advance rental payment or deposit, select your annual mileage and contract length, and then pay a flat monthly fee for the duration of your agreement. When your contract ends, you hand the car back.
Traditionally, leasing a new car is simpler and easier than a Personal Contract Purchase (PCP) and more importantly, it generally has lower monthly payments. For these reasons, lease deals are growing in popularity, with a large number of motorists simply handing back their cars at the end of the lease and signing for a new one straight away. As popularity is growing, so is the competition between providers, meaning as a buyer you have the freedom to choose from the cream of the crop.
In addition to the cheaper monthly payments, car leasing can offer many other useful benefits that could help you avoid the faff of dealing with independent dealerships. Car tax, breakdown cover, car maintenance and tyre repair and replacement can all be included within your agreed payment plan.
Independent lease broker dealsIf the car of your dreams isn't offered by a manufacturer-promoted lease scheme, don't worry. Instead you can acquire your car from a leasing broker. These are independent firms that use their expertise to negotiate supply and funding deals with car makers and lending companies, and stitch together leasing deals for all manner of vehicles. In some cases the brokers offer extended contract terms too.
Lease brokers have traditionally been focused on the fleet market, but nowadays there are plenty who offer lease deals to private customers, too. The main difference between private and fleet or business lease deals is cost, because prices for business leases are quoted without VAT being added.
While the figures above are a good starting point, take care when assessing quotes since some lease deals may involve additional admin or set-up fees. It's also vital to scrutinise the cost of exiting a lease contract early, because 'penalty' charges for termination can be significant.
Business car leasingIf you're a VAT-registered business user there could be more financial benefits from leasing your car or cars. Many leasing companies quote two prices: a personal lease and a business lease. Our prices are all for the former aimed at private customers, but business prices are without the 20 per cent VAT, which makes these deals even more affordable. Just remember, the contract has to be taken out by a business or sole trader, though, and the VAT rebate is limited to 50 per cent if the car is used for private mileage.
Looking to sell your current car quickly and for a good price? We've partnered with Motorway to bring you the best offer from its network of UK dealers...
Here Are The Best Deals In Off-Lease Used Cars
With interest rates having risen and new-vehicle prices reaching an average of over $37,000, an increasing number of consumers are turning to the used car market. And thanks to the tidal wave of two- and three-year-old vehicles coming off lease and returning to dealerships, the selection of late-model cars in top condition has never been greater. But which are the best deals? The key lies in their resale values.
As the old saying goes, one person's loss is another person's gain. A given vehicle that depreciates at a higher-than-average rate may lose its original owner some cash in terms of a lower trade-in value or higher lease payments, but it can prove to be an excellent deal for a bargain hunter in the used-car market.
Age, condition and mileage largely determine a used vehicle's value. However, all else being equal, some models will command higher or lower prices because of various market forces. These can include local supply and demand, how well a particular brand or model is perceived, and/or whether the vehicle was initially sold with hefty cash rebates or in big numbers to fleet buyers.
Gallery: 10 Best Deals In Off-Lease Used Cars
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The experts at the auto information website iSeeCars.Com looked at over 4.8 million used vehicle transactions to determine which models suffer the greatest loss in value after three years. These, in turn, would be the best deals among used cars. We're featuring the 10 best used-vehicle bargains from the 2016 model year in the accompanying slideshow.
Perhaps not surprisingly, all are midsize or full-size luxury sedans. Models that are the priciest to begin will almost automatically suffer a greater loss of value over time than those having lower sticker prices, simply because there's more money at stake to lose. Given the skyrocketing popularity of sport-utility vehicles these days, demand for passenger cars is declining rapidly, which also tends to depress most used sedans' values. All of the cars featured in the slideshow, on average, lose more than 50% percent of their original values after the first three years, according to ISeeCars.Com. The average among all vehicles is 38.2%.
"Luxury brands are often leased, which creates a surplus of these three-year-old luxury vehicles in the used car marketplace without an equal amount of demand," explains iSeeCars CEO Phong Ly. "Given the heightened demand for SUVs, which account for a higher share of used car inventory than ever before, luxury sedans are less sought after and have to come down significantly in price to attract used car buyers."
If you're among the masses succumbing to an SUV's siren song and are looking for a value-priced example on a used-car lot, you'll likewise want to look at a luxury-minded and/or full-size model. According to iSeeCars.Com's data, the three-year-old SUVs that lose the biggest chunks of their original value after three years are the extended-length Lincoln Navigator L with 51.6% depreciation, followed by the Infiniti QX80 (-49.1%), the Lincoln MKT (-49.0%), the Ford Expedition (-48.7%), the standard-length Lincoln Navigator (-48.1), and the Lincoln MKC (-48.0%).
"These SUVs are ranked highly in their respective classes but aren't as popular as their more luxurious competitors," says Ly. "As a result, their demand might not be as high, which provides value for used car shoppers who are interested in a dependable luxury SUV."
Among pickup trucks, the Nissan Titan registers the highest rate of depreciation at 45.9% after three years. Electric cars, however, could be the best deals of all among used cars, dropping an average of 56.6 of their original worth after 36 months. (Their depreciation is accelerated in part because of the one-time $7,500 federal tax credit granted to new EV buyers.) The biggest losers among battery-powered models are the Fiat 500e (-69.7%), the BMW i3 (-63.3%) and the Nissan Leaf (-59.6%).
You can read the full report here.
In Pictures: 10 Best Deals In Off-Lease Used Cars.
Keep in mind that any used-vehicle's transaction price will vary depending on how a it's equipped, its condition, whether or not its being sold with a warranty, local supply and demand, and even its interior/exterior color combination.
Of course, even a top-rated model in seemingly good condition can be a lemon in disguise if it's been abused, has hidden damage, or was improperly maintained. That's why it's always prudent to have a trusted mechanic carefully inspect any used car or truck under your consideration to get an impartial evaluation of how well it's holding up.
Also be sure to run a model's vehicle identification number (VIN) through a title-search service like Carfax or AutoCheck (a car's VIN is noted on the title and on a plate attached to the dashboard at the bottom of the windshield – make sure both numbers match). A title report will disclose if it's been in an accident or a flood and has been subsequently salvaged and rebuilt, and that any safety-related recalls have been addressed. According to Carfax, more than 52 million recalled vehicles – that's one out of every five – remain on the road with open recalls.
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