Cheapest Lease Deals: February 2017

By

Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

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, Senior Pricing Analyst - February 3, 2017

Leasing can often be appealing because of the low monthly payments. We analyzed over 420 offers to uncover the absolute cheapest lease deals in February.

With Presidents’ Day on the way, automakers are already rolling out new discounts and special incentives to get you to switch brands as well as to keep you loyal.

We’ve found the 5 cheapest leases for small & midsize cars, SUVs & crossovers, minivans, luxury cars & SUVs and trucks. Leases can be hard to compare, so we’ve listed the effective cost of each one factoring the payment and amount due at signing.

Be sure to also check out our full monthly analysis of the best lease deals. Offers listed assume a Southern California location unless noted otherwise.

Last updated 5:40 pm Friday, February 3

Cheapest Small Car Leases

Ford Focus Electric

This month’s cheapest small car lease is the 2016 Ford Focus Electric. A huge $50/month price cut has catapulted it to the top of our list rather abruptly.

Next up is the quirky FIAT 500e, although you’ll need to live in California or Oregon to get the deal. You can supercharge this deal by taking advantage of an additional $1,000 bonus targeting lessees of any non-Chrysler competitor.

In other news, the 2017 Sentra SV has come out of nowhere with a $900 cut in amount due at signing compared to last month. The Kia Forte isn’t far behind with a pair of deals on last year’s model and the redesigned 2017 version. However, with a difference of merely $3, the newer design appears to be the better value.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2016 Ford Focus Electric Base $119/$669/36 $138 $30,045 4/3/17 Get Quote
2017 FIAT 500e Base (CA, OR) $120/$1,999/36 $176 $32,795 2/28/17 Get Quote
2017 Nissan Sentra SV $149/$1,499/36 $191 $20,045 2/28/17 Get Quote
2016 Kia Forte LX Sedan $149/$1,999/39 $200 $18,550 2/28/17 Get Quote
2017 Kia Forte 2.0 LX Sedan $139/$2,499/39 $203 $18,350 2/28/17 Get Quote



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Cheapest Midsize Car Leases

Kia Optima

With an effective lease cost of $210, the 2016 Kia Optima is the cheapest midsize car lease. That’s more affordable than leases on most small cars. The Optima Hybrid is close behind and just $20 more despite an MSRP that’s $3,800 higher on paper.

If you prefer the allure of Sign & Drive, be sure to consider this month’s lease on the 2017 Subaru Legacy starting at $239. Automakers have been shying away from this type of offer so this is a deal worth taking advantage of.

Finally, the 2017 Hyundai Sonata and 2017 Kia Optima are tied with the exact same lease cost of just $240, which is well below the $255/month on the 2017 Honda Accord LX and $275 on a 2017 Chevy Malibu LT.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2016 Kia Optima LX 4-cyl $159/$1,999/39 $210 $22,990 2/28/17 Get Quote
2016 Kia Optima Hybrid LX $179/$1,999/39 $230 $26,845 2/28/17 Get Quote
2017 Subaru Legacy 2.5i Premium $239/$0/36 $239 $24,815 2/28/17 Get Quote
2017 Hyundai Sonata SE $179/$2,199/36 $240 $22,585 2/28/17 Get Quote
2017 Kia Optima LX 4-cyl $189/$1,999/39 $240 $23,050 2/28/17 Get Quote



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Cheapest SUV Leases

Kia Soul EV

The Kia Soul EV continues to be the cheapest SUV lease after a $1,000 price cut last month. However, the version with this payment is the EVe model only available in California.

Alternatively, the 2017 Chevy Trax ranks extremely well when you qualify for a $2,000 bonus for lessees of another GM vehicle or of any non-GM model. The 2017 Equinox gets the same incentive, offering shoppers a rare Sign & Drive lease.

If you don’t qualify for any special discounts, the Honda HR-V and Mazda CX-3 have nearly identical lease costs and rank very highly with our reviewers. Be sure to consider test driving both models.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2016 Kia Soul EV EVe (CA) $169/$999/39 $195 $32,800 2/28/17 Get Quote
2017 Chevrolet Trax 1LT (Current GM Lessees) $179/$749/39 $198 $23,795 2/28/17 Get Quote
2017 Chevrolet Equinox LS FWD (Current GM Lessees) $232/$0/39 $232 $26,405 2/28/17 Get Quote
2017 Honda HR-V LX 2WD $189/$2,299/36 $253 $21,205 2/28/17 Get Quote
2017 Mazda CX-3 Sport FWD $199/$1,999/36 $255 $20,860 2/28/17 Get Quote



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Cheapest Minivan Leases

Toyota Sienna

The 2017 Toyota Sienna leads the way as the cheapest minivan lease. However, it’s followed closely by the 2016 Kia Sedona, which has been surprisingly popular after its last redesign.

In the case of the Sedona, expect to be able to find a good number of leftover 2016 models since the 2017 Sedonas were released late. Due to the difference in lease prices, the 2016 version is clearly the best bet.

Other notable deals include the 2017 Honda Odyssey and Dodge Grand Caravan. However, shoppers should be aware that the redesigned 2018 Odyssey will arrive this spring with the latest safety technology and may be worth waiting for.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Toyota Sienna L V6 FWD $269/$1,999/36 $325 $31,020 2/28/17 Get Quote
2016 Kia Sedona LX $279/$1,999/39 $330 $29,395 2/28/17 Get Quote
2016 Honda Odyssey LX $259/$2,999/36 $342 $30,490 2/28/17 Get Quote
2017 Kia Sedona LX $299/$1,999/39 $350 $29,745 2/28/17 Get Quote
2017 Dodge Grand Caravan SE $289/$2,999/36 $372 $26,090 2/28/17 Get Quote



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Cheapest Truck Leases

Chevy Colorado

The 2017 Chevy Colorado is the cheapest truck lease when you take advantage of a $1,500 bonus for anyone coming from a non-GM lease (and if you’re a current GM lessee). If you don’t qualify for any special discounts, the Nissan Frontier continues to be an affordable alternative.

For something that can take on bigger jobs, the 2017 Chevy Silverado 1500 ranks as a relatively affordable lease compared to most competitors. However, you’ll need to opt for the All Star Edition and qualify for a competitive lease bonus to arrive at this price.

Other notable deals include the RAM 1500 and redesigned Nissan Titan. Both are remarkably close when it comes to effective lease costs ($406 vs. $410), so you may have a tough choice on your hands.

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Chevrolet Colorado LT 4x4 (Current GM Lessees) $279/$1,699/39 $323 $34,465 2/28/17 Get Quote
2016 Nissan Frontier SV 4x4 Crew Cab $290/$1,999/36 $346 $28,935 2/28/17 Get Quote
2017 Chevrolet Silverado 1500 1LT 4x4 All Star Dbl Cab (Current GM Lessees) $299/$3,849/36 $406 $42,585 2/28/17 Get Quote
2017 RAM 1500 Express 4x2 Crew Cab $309/$3,499/36 $406 $38,235 2/28/17 Get Quote
2017 Nissan Titan S 4x2 Crew Cab $299/$3,999/36 $410 $35,975 2/28/17 Get Quote



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Cheapest Luxury Car Leases

Buick Verano

The cheapest luxury car lease continues to be the 2017 Buick Verano. However, you’ll need to qualify for a $1,500 bonus targeting lessees of any non-GM competitor to get this price.

Similarly, the Acura ILX benefits from a $750 bonus for anyone coming from a 2007 or newer vehicle from luxury automakers like BMW, Lexus and Audi; as well as mainstream brands like Toyota, Honda, Nissan and more.

The Volvo S60 is a bit of a surprise this month thanks to a new $0 due at signing lease ahead of Presidents’ Day. This type of deal is increasingly rare in the luxury segment, so we recommend taking advantage of it while you can

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Buick Verano Sport Touring FWD (non-GM Lessees) $199/$2,938/39 $268 $25,040 2/28/17 Get Quote
2017 Acura ILX Base 8-Spd DCT (Conquest) $219/$2,499/39 $283 $28,940 2/28/17 Get Quote
2017 Buick Regal Sport Touring FWD (Non-GM Lessees) $259/$1,549/39 $299 $29,540 2/28/17 Get Quote
2017 Acura TLX Base 4-cyl DCT (Conquest) $269/$2,799/39 $341 $32,950 2/28/17 Get Quote
2017 Volvo S60 T5 FWD Inscription $359/$0/36 $359 $38,890 2/28/17 Get Quote



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Cheapest Luxury SUV Leases

Buick Encore

Once again, the 2017 Buick Encore is the cheapest lease on a luxury SUV. If you can, be sure to take advantage of a $2,000 bonus for anyone coming from an existing GM lease or that of a competitor.

If you’re looking for a more luxurious pick, the Infiniti QX30 is a stellar deal following a huge $50 cut in payment. The relatively new Buick Envision is also a stellar deal if you qualify for a $1,500 bonus like the one on the smaller Encore.

Finally, the Lincoln MKC and Acura MDX are neck-and-neck with special discounts targeting competitors. With effective lease costs separated by a mere $9, which one will you choose?

Vehicle Pmt/Due at Signing/Term Effective Monthly Cost MSRP Expiration Your Price
2017 Buick Encore Base FWD 1SB (Non-GM Lessees) $199/$849/39 $221 $25,290 2/28/17 Get Quote
2017 Infiniti QX30 Base FWD $249/$1,999/39 $300 $30,945 2/28/17 Get Quote
2017 Buick Envision Preferred (Non-GM Lessees) $299/$2,199/36 $360 $36,795 2/28/17 Get Quote
2017 Lincoln MKC 2.0 Select Plus (Conquest) $299/$2,674/36 $373 $33,805 4/3/17 Get Quote
2017 Acura RDX Base 2WD V6 (Conquest) $299/$2,999/36 $382 $36,645 2/28/17 Get Quote

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For an easy way to find the best deals, visit the CarsDirect Deals Page for the latest deal-related news and analyses. Browse expert buying advice updated monthly on nearly 300 models for insider insights you'll only find at CarsDirect. Be sure to sign up for email alerts to have the latest deals delivered straight to your inbox.

Offers listed here are based on a resident in Southern California and may be subject to change. Most lease offers are for well-qualified buyers based on available credit and exclude tax, license, title, registration, document fees and insurance. Not all buyers may qualify. Please check with your CarsDirect Trusted Dealer to confirm details and eligibility.

, Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website