Cheapest Lease Deals: February 2018

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 5, 2018

We analyzed 546 leases to find the cheapest lease deals in February. The most affordable offers start under $200/month and involve special offers like limited-time Sign & Drive promotions.

To make comparisons easier, we’ve listed the cheapest leases based on effective cost. This allows you to see what a lease actually costs given the payment, term and amount at signing.

For the latest Presidents' Day deals, please see our continuously updated coverage.

Last updated February 5

Cheapest Small Car Leases

2017 Kia Forte

At just $139/month, the 2017 Kia Forte LX is the cheapest small car lease in February. Its effective cost comes in at just $195, making this one of the few truly sub-$200 leases. The 2018 Forte starts $20/month higher, but we suspect Kia will improve prices in the next couple of months.

Once again, the Subaru Impreza ranks as a surprisingly affordable alternative thanks to its strong residual value and an attractive Sign & Drive promo. However, this only gets you a base model with a manual transmission. The payment has also gone up for the second month in a row.

Vehicle Lease Deal Effective Cost MSRP Region Your Price
2017 Kia Forte 2.0 LX Sedan $139 for 36 months, $1,999 due at signing $195 $18,495 California Check Local Offers
2018 Subaru Impreza 2.0i Hatch Manual $195 for 42 months, $0 due at signing $195 $19,855 Los Angeles Check Local Offers
2017 Nissan Sentra SV $149 for 36 months, $2,199 due at signing $210 $20,115 Los Angeles Check Local Offers
2018 Kia Forte 2.0 LX Sedan $159 for 36 months, $1,999 due at signing $215 $18,695 California Check Local Offers
2017 Hyundai Elantra SE $169 for 36 months, $1,999 due at signing $225 $18,835 Los Angeles Check Local Offers


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Cheapest Midsize Car Leases

2018 Ford Fusion

As before, the 2018 Ford Fusion ranks as the cheapest lease on a midsize car— but not by much. To get to this price, you’ll have to take advantage of special savings on EcoBoost versions with the Tech Package. In places like California, we expect to see a Sign & Drive lease for Presidents’ Day.

Having said that, we consider the Kia Optima Hybrid a superior choice in terms of value. It’s $2,220 more expensive than the Fusion but has the exact same lease cost. Huge model year-end lease discounts make it an absolute steal, with the benefit of increased fuel economy.

Vehicle Lease Deal Effective Cost MSRP Region Your Price
2018 Ford Fusion SE 1.5L Tech Package $189 for 36 months, $1,999 due at signing $245 $24,670 California Check Local Offers
2017 Kia Optima Hybrid Premium $189 for 36 months, $1,999 due at signing $245 $26,890 California Check Local Offers
2018 Kia Optima LX 2.4 $189 for 36 months, $2,299 due at signing $253 $23,395 California Check Local Offers
2017 Mazda Mazda6 2017.5 Sport $199 for 36 months, $1,999 due at signing $255 $23,895 Los Angeles Check Local Offers
2018 Toyota Camry SE $199 for 36 months, $1,999 due at signing $255 $26,309 New York Check Local Offers


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Cheapest Small SUV Leases

2017 Tiguan Limited

The 2017 Volkswagen Tiguan Limited is the cheapest lease on a compact SUV. Unlike the redesigned 2018 Tiguan, this is actually a limited-edition version of last year’s model that can be leased for about the same price as most compact cars.

Prefer the latest safety features? The Mazda CX-5 and Toyota RAV4 continue to duke it out in a price war at $199/month in places like California. Both offer a ton of value with tech like built-in collision warning, something most competitors charge thousands for.

Vehicle Lease Deal Effective Cost MSRP Region Your Price
2017 Volkswagen Tiguan Limited 2.0T S FWD $149 for 36 months, $2,499 due at signing $218 $22,860 Western States Check Local Offers
2018 Subaru Crosstrek 2.0i Manual $199 for 36 months, $1,979 due at signing $254 $22,720 Los Angeles Check Local Offers
2017 Mazda CX-5 Sport FWD $199 for 36 months, $1,999 due at signing $255 $24,985 Los Angeles Check Local Offers
2018 Toyota RAV4 LE FWD $199 for 36 months, $1,999 due at signing $255 $25,629 Southern California Check Local Offers
2017 Hyundai Tucson SE FWD $199 for 36 months, $2,499 due at signing $268 $23,650 California Check Local Offers


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Cheapest Midsize SUV Leases

Kia Sorento

Once again, the 2018 Kia Sorento L ranks as the cheapest lease on a midsize SUV. With an effective cost of $277, the capable family-hauler is a worthy choice for value-conscious shoppers. If you can believe it, that’s actually cheaper than a Chevy Cruze here in California ($297).

For something sportier, the 2017 Ford Edge features an extremely affordable lease that’s actually cheaper than a 2018 Escape SE ($284 vs. $316) because of a big difference in discounts. However, you’ll have to act fast because they’re getting close to selling out.

Vehicle Lease Deal Effective Cost MSRP Region Your Price
2018 Kia Sorento L 2.4L FWD $199 for 36 months, $2,799 due at signing $277 $26,740 California Check Local Offers
2017 Ford Edge SE FWD $229 for 36 months, $1,979 due at signing $284 $29,845 California Check Local Offers
2018 GMC Terrain SLE 2WD $249 for 39 months, $1,749 due at signing $294 $28,895 National Check Local Offers
2018 Ford Flex SEL FWD 202A $229 for 36 months, $2,869 due at signing $309 $36,295 California Check Local Offers
2018 Toyota Highlander LE Plus $249 for 36 months, $2,699 due at signing $324 $36,679 New York Check Local Offers


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Cheapest Truck Leases

2017 Toyota Tacoma

The 2017 Toyota Tacoma is the cheapest lease on a truck at just $299/month here in Southern California. Offers in other parts of the country are different, but our analysis shows that they’re also quite competitive, especially if you’re considering a 2017 model.

The 2018 Chevy Colorado ranks well too, although the catch is that you’ll have to choose a well-equipped Z71 model because the discounts are skewed in its favor. Currently leasing a non-GM vehicle? You may be eligible for a $1,500 competitive lease bonus that reduces your cost.

Vehicle Lease Deal Effective Cost MSRP Region Your Price
2017 Toyota Tacoma SR5 V6 Double Cab 4x2 $299 for 36 months, $1,999 due at signing $355 $31,743 Los Angeles Check Local Offers
2018 Chevrolet Colorado Z71 4x2 Crew Cab $269 for 39 months, $3,769 due at signing $374 $32,585 California Check Local Offers
2017 Nissan Frontier SV 4x4 Crew Cab (Plus $1,000 Bonus) $299 for 36 months, $2,999 due at signing $382 $29,870 Los Angeles Check Local Offers
2018 Ford F-150 XL w/STX Pkg 4x2 2.7L SuperCab 101A $299 for 24 months, $3,789 due at signing $387 $35,570 California Check Local Offers
2017 RAM 1500 Express 4x2 Quad Cab $309 for 36 months, $2,999 due at signing $392 $36,255 National Check Local Offers


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Cheapest Luxury Car Leases

Acura ILX

The 2018 Acura ILX is the cheapest lease on a luxury car. This month, the car benefits from a massive $40/month price cut as part of a Presidents’ Day promotion. It now has the same effective cost of last month’s offer on the 2017 ILX.

For a bit more luxury, consider the 2018 Cadillac ATS. With an effective cost of $365/month, it’s a surprisingly good value given its $35,495 MSRP. As an alternative, the Acura TLX is about $3/month more expensive and offers a nice blend of sportiness and comfort.

Vehicle Lease Deal Effective Cost MSRP Region Your Price
2018 Acura ILX Base $199 for 36 months, $2,499 due at signing $268 $29,065 National Check Local Offers
2018 Cadillac ATS Standard Sedan $299 for 27 months, $1,779 due at signing $365 $35,495 National Check Local Offers
2018 Acura TLX Base 4-cyl $299 for 36 months, $2,499 due at signing $368 $33,950 National Check Local Offers
2018 Infiniti Q50 2.0t LUXE $289 for 39 months, $3,499 due at signing $379 $37,545 California Check Local Offers
2018 Volvo S60 T5 Inscription FWD $295 for 39 months, $3,475 due at signing $384 $39,290 Los Angeles Check Local Offers


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Cheapest Luxury SUV Leases

2018 Acura RDX

The 2018 Acura RDX is the cheapest lease on a luxury SUV. Its advertised deal of just $299/month may look unchanged from last month, but the amount due at signing has actually been reduced by $400 as part of a special Presidents’ Day promo.

That said, for just $10 more, we consider the Infiniti QX50 a compelling alternative. Interestingly, its effective cost is actually cheaper than the QX30 despite a $5,600 difference in MSRP. The all-new Volvo XC40 also debuts with an effective cost of $397, about $52/month lower than an Audi Q3 ($449).

Vehicle Lease Deal Effective Cost MSRP MSRP Your Price
2018 Acura RDX Base 2WD $299 for 36 months, $2,499 due at signing $368 $36,995 National Check Local Offers
2017 Infiniti QX50 Premium FWD $299 for 39 months, $3,099 due at signing $378 $36,545 California Check Local Offers
2018 Infiniti QX30 Base $309 for 39 months, $3,199 due at signing $391 $30,945 California Check Local Offers
2019 Volvo XC40 T4 Momentum FWD $305 for 36 months, $3,305 due at signing $397 $34,195 Los Angeles Check Local Offers
2018 Lincoln MKC 2.0 Select Plus $319 for 36 months, $3,469 due at signing $415 $38,135 Los Angeles Check Local Offers


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, 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