Buick's most affordable model already has a lease deal. According to a bulletin sent to dealers last week, the 2024 Buick Envista has a $199 per month lease deal that's bound to get the attention of bargain-seekers. However, we found some important drawbacks worth knowing about with this first Envista lease deal.
Based on Buick incentives available through July 31st, the 2024 Envista Preferred is listed at $199 for 24 months with $4,109 due at signing. That's based on an MSRP of $23,495 and 10,000 miles per year of driving. Our analysis finds that the effective cost of this lease is $370 per month before any taxes & fees.
While it's nice to see a promo already on the brand's cheapest model, a closer look finds that it may not be all that good of a deal. First, the Envista's lease price includes a $500 discount that you can only get when coming from another Buick or GMC lease. If you don't qualify, expect to pay a higher amount at signing.
Second, the 24-month Envista lease is designed to take advantage of a much higher residual value than a traditional 36-month lease (76% compared to just 63%). While that could be good news for shoppers who are okay with a shorter lease, opting for a longer term makes the Envista considerably more expensive.
Although the 36-month lease payment on the 2024 Envista is still $199, the amount due at signing balloons to $5,219. As a result, the sweet spot for leasing the Envista might be with a 24-month lease, at least for now. Depending on your timeframe, the Envista promo may not be the best deal you can get from Buick.
At the moment, you can lease a 2023 Encore GX from $199 for 24 months with $3,989 at signing based on national incentives. This, too, includes a Buick or GMC loyalty discount but has an effective cost of $365. That's $5 less than the Envista despite the fact that the Encore GX's MSRP is $5,700 more expensive.
Still, we think the Envista's sharp looks and attractive-sounding offer may get shoppers' attention especially as we approach the Fourth of July holiday. Given the high cost of luxury car leases these days, the Envista's intriguing package could be worth a look. The Envista is due to arrive this summer at dealerships.