Best New Car Lease Deals: December 2024

The 2025 Hyundai Elantra remains one of the best small cars you can lease. With an effective cost of $286, the sharply-styled Elantra can be a lot more affordable than a 2025 Toyota Corolla LE ($316). The biggest reason is that Hyundai is offering a $1,500 lease incentive on the value-oriented SE trim.

The post-Black Friday lease for the 2025 Hyundai Elantra is just $10 per month more than the outgoing 2024 model. We think it's unlikely that Elantra prices will get much lower than this in the next several months. The example here is for Southern California, but we're seeing comparable prices elsewhere, too.

The 2025 Kia K4 is shaping up to be a surprisingly good deal. Through January 2nd, the K4 LXS can have an effective cost as low as $316 per month. That's just $20 more than the 2024 Kia Forte that it replaces. That's a pretty big deal since the K4 is all-new and has an MSRP that's nearly $3,000 higher.

Kia's price is available in CA, CO, DE, FL, HI, IL, IN, ME, MI, MN, ND, NE, OH, PA, UT, VT, WI, and WY. If you think you'll drive more than the allowed amount, be sure to see your dealer about customizing the lease to fit your needs. In Southern California, the new K4 has the same effective cost as a Corolla.

A price cut made the 2025 Subaru Outback an even better deal than before. This month's payment starts at just $299 (previously $305), resulting in an effective cost of just $384 per month. If you're a returning customer, be sure to ask your dealer about Subaru's $500 loyalty discount for lessees.

Alternatively, you may qualify for Subaru VIP Pricing if you're a member of an eligible organization. This may present a great opportunity to score a haggle-free discount on an Outback. At $384, the effective cost of the Outback is only about $14 per month more than a 2025 Kia Sportage LX ($370).

The 2025 Tesla Model Y is about $50 cheaper to lease than it was before after last month's price cut. You can now lease the Model Y Long Range for $299 with $3,993 at signing for an effective cost of $410 per month. That's the same price as the 2025 Tesla Model 3 even though the Y's MSRP is $2,500 higher.

If you manage to take delivery by December 31st, Tesla is also offering 3 months of free Full Self Driving and Supercharging. When purchased as part of a monthly subscription rather than an $8,000 option, FSD normally costs $99 a month. When purchased, the Model Y may qualify for a $7,500 tax credit.

The 2024 Hyundai IONIQ 5 is one of the best bang-for-buck lease deals on an SUV. Through January 2nd, the SE Standard Range has an effective cost of just $326 per month. Alternatively, you can step up to the Long Range version for an extra $30. The range difference comes down to 220 miles vs. 303.

Shoppers should be aware that Hyundai discontinued a $1,500 Tesla Competitive Owner Coupon this month. It's also useful to know that Hyundai's IONIQ 5 incentives are skewed to favor shorter leases because of their higher residual values. Hyundai Single Pay leases may help get you even better deals.

The 2024 Honda Prologue continues to be the brand's cheapest vehicle to lease despite a nearly $49,000 MSRP. Additionally, the best Prologue leases are no longer limited to shoppers in California. As of last month, those in ZEV States like Colorado, New Jersey, New York, and Oregon can get the same great deals.

With a $1,000 Honda lease loyalty discount (or lease conquest offer if you come from another brand), the Prologue's effective cost can be as low as $265 per month. Without the loyalty offer, the price is $30 higher with a payment of $259. In non-ZEV States, it's $289 with $1,299 at signing ($259 with loyalty discount).

In ZEV states, you'll now find up to $18,000 in lease cash assuming you apply the loyalty or conquest cash. That translates to a 37% discount off MSRP. Offers end on January 2nd. If you'd rather buy your Prologue, Honda is now offering 0% APR for 72 months plus up to $6,000 in unadvertised financing incentives.

A few months ago, the 2024 Kia EV6 got a $30 price cut to the current lease of $179 per month. In California and ZEV states, the EV6 Light Long Range can have an effective cost as low as $346 per month. That's just $10 more than a 2025 Kia Soul LX despite a $26,000 difference in the MSRPs.

In this configuration, the EV6 has a range of up to 310 miles. The higher residual values of a 24-month lease are a sweet spot in our view. In the case of the GT-Line AWD, Kia is offering as much as a $16,100 discount off MSRP. Offers may vary slightly by region and are due to expire on January 2nd.

The 2024 GMC Terrain can be a great SUV to lease if you're coming from another GM model. Through January 2nd, GM lessees can score a Terrain SLE AWD for an effective cost as low as $377 per month. Just be aware that your price will be a lot higher if you aren't eligible for the loyalty discount.

The 2024 Kia Niro Wind EV remains $50 cheaper to lease than before, with a payment of just $169 per month in some states. At an effective cost of $336 per month, it's cheaper to lease than the hybrid Niro ($376) despite having a significantly higher MSRP.

This is a regional deal we're seeing in the following states: CA, CO, DE, FL, HI, IL, IN, ME, MI, MN, ND, NE, OH, PA, UT, VT, WI, WY. Elsewhere, Kia's advertised lease is $199 per month but for a longer term of 36 months with the same amount at signing.

The offers end on January 2nd and mark the best deals we've ever seen on the all-electric Niro. Looking for an even better value? Ask your dealer about a Kia Single Pay Lease to get an even lower money factor by prepaying your Niro EV lease upfront.

The 2024 Subaru Solterra remains the brand's cheapest vehicle to lease, SUV or otherwise. With an effective cost of $287, it undercuts the 2024 Subaru Impreza ($310). When you consider the fact that the Solterra's MSRP is nearly $10,000 more expensive, we think this represents a massive way to upgrade.

The example here is for Southern California. Elsewhere, we're seeing a higher price of $329 with $329 at signing. This is actually a no-money-down lease that covers your acquisition fee and requires no down payment. The amount at signing simply represents the first month's payment. Offer ends on January 2nd.

While the Solterra doesn't have the fastest charging speeds, it does come standard with all-wheel drive and has a range of up to 228 miles depending on the trim. At $287 per month when factoring in the payment and amount due at signing in Socal, the Solterra is cheaper to lease than a 2024 Toyota bZ4X ($296).

The 2025 Lexus ES Hybrid features a $3,000 lease incentive in some parts of the country. On the West Coast, the ES 300h has an effective cost of just $628 per month. That's the same price as the 2024 IS 300 even though the ES' MSRP is over $9,000 more expensive.

If you're currently in a Lexus lease, the brand is offering up to a 6-month payment waiver. This could be a good way to upgrade sooner rather than later. Current offers will end on January 6th. We don't expect Lexus deals to change before the year's end.

The 2025 BMW i4 got its first lease deal last month and it's already pretty good. With an effective cost of $609 in most parts of the country, the i4 eDrive40 is an exceptional value.

Coming from another EV or plug-in? BMW's BEV Conquest Program offers an extra $1,000 in savings and doesn't require you to trade in your current car. It can also be transferred to members of the same household. Current offers end on January 2nd.

The 2024 Lexus RX 350 is $20 cheaper to lease as part of the December To Remember sales event. With an effective cost of $590 per month, we consider this a solid price cut. Lexus lessees may be able to take advantage of a payment waiver to get out of their current lease sooner than scheduled.

The example is for the West Coast and includes $4,000 in lease cash. On the East Coast, the RX plug-in hybrid features a $11,000 discount that can enable you to lease the Luxury trim for $659 with $4,999 at signing. Current Lexus deals are due to end on January 6th, 2025.

The 2024 Acura ZDX is the best luxury SUV you can lease with an effective cost of just $504 per month for the A-SPEC trim. Acura's lease includes a $4,000 loyalty discount which can also take the form of a bonus when coming from a lease from a competing brand. This is a regional deal available till January 2nd in California, New York, Oregon, and other ZEV states.

In Arizona, Florida, Texas, and other states, expect the price to be about $26 per month higher. At $504, our analysis found that the futuristic EV is cheaper to lease than a 2025 Acura RDX ($628). If you're open to buying your ZDX, Acura is now offering 0% APR for 72 months in a deal that can be stacked with the brand's $4,000 loyalty discount or conquest cash incentives.

The 2024 Toyota Tacoma is $30 per month cheaper to lease than before. Based on a dealer incentive bulletin, that's due to a lower money factor and a 39-month lease term (previously 36). The SR5 4x2 Double Cab now has an effective cost of just $332 per month.

Tacoma leases are around $100 per month cheaper than the summer. This is a regional offer for Southern California. Expect prices to vary depending on where you live. At $332, the Tacoma is $150 per month cheaper to lease than a 2024 Chevy Colorado LT ($482). The offer ends on January 6th.

The 2024 GMC Sierra 1500 is an even better deal than before thanks to a recent price cut. The Sierra 1500 Elevation 4x4 TurboMax Crew Cab has a lower amount due at signing. As a result, its effective cost fell to $501 per month (previously $515).

The catch is that you'll need to qualify for a loyalty discount for Buick and GMC lessees. At $501 per month, the Sierra is cheaper to lease than the 2024 GMC Canyon ($528). That makes this a huge upgrade given the $20k difference in MSRPs.