2018 Mitsubishi Eclipse Cross: Cheaper To Lease Than Outlander Sport

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Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

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, Senior Pricing Analyst - March 14, 2018

The 2018 Mitsubishi Eclipse Cross is on sale and beginning to arrive at dealers. Priced from $24,290, it occupies a bit of an odd middle spot between the $22,590 Outlander Sport and $24,940 Outlander.

However, despite having a higher MSRP, the all-new crossover may actually cheaper to lease than the Outlander Sport. As a result, you may be able to get behind the wheel of a nicer model for less.

Here's what you need to know.

Dueling Leases

Starting this month, the 2018 Eclipse Cross ES is being listed at $189 for 36 months with $4,388 due at signing. It comes with an allowance of 12,000 miles per year and equates to an effective cost of $311/month.

At the same time, the 2018 Outlander Sport ES is listed at $249 for 36 months with $2,998 at signing, and the same mileage limit. The amount at signing is lower, but the higher payment results in an effective cost of $332/month.

Here, the Eclipse Cross is $21/month cheaper to lease despite the fact that it has a higher sticker price.

So what gives?

Good Deal Or Not?

The Eclipse Cross comes out to a better deal in large part because of its higher residual value (58% vs. 49%) and lower money factor (0.00015833 vs. 0.00017917).

In terms of APR, that's basically 3.8% vs. 4.3%— still not great by any means, but not surprising given what we typically see with leases from Mitsubishi through Ally Financial.

Unfortunately, both models equate to poor values when leasing compared to what else is available.

Here in Southern California, you could actually spend less money to lease a $30,754 Toyota RAV4 Hybrid that gets 32 mpg. It has an effective cost of $305/month, a $6 advantage compared to the Eclipse Cross.

Think leases could improve in time? You may not want to get your hopes up. We generally find that Mitsubishi leases don't fluctuate as much as competitors when it comes to price.

That said, even though the Eclipse Cross isn't cheap, shoppers shouldn't assume that the Outlander Sport is going to be a better deal just because it has a lower MSRP.

, Senior Pricing Analyst

As CarsDirect’s resident pricing analyst, Alex offers must-know analysis of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured in publications such as Car and Driver, Motor Trend, Automobile Magazine and Autoblog.

Follow On: Twitter

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