Infiniti, Jaguar Cut Lease Prices With Lower-Mileage Deals

By

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

, Senior Pricing Analyst - February 3, 2021

Jaguar and Infiniti are offering luxury car shoppers a way to lease a car ahead of the Presidents' Day holiday. The moves are in line with automakers' efforts to cater to driving habits due to the pandemic. While there are some key differences worth knowing about, the new lease deals can be up to $60/month cheaper than before.

In Infiniti's case, shoppers now have the ability to opt for a 5,000 mile-per-year lease on any model and boost a car's residual value by 5%. Compared to a typical 10,000 mile-per-year lease, the brand says this can lower monthly payments by anywhere from $20-25/month on most models to as much as $50 on a QX80.

According to a letter sent yesterday to dealers across the country, Infiniti makes the case in clear terms: "As we know the market and driving needs are changing in today's environment; more working from home and limiting trips to the most essential (sic) Infiniti wants to satisfy our clients (sic) automotive leasing needs."

Meanwhile, Jaguar is taking a targeted approach with 7,500 mile-per-year leases on the F-TYPE sports car and all-electric I-PACE. On a 2021 F-TYPE P300 Coupe, the British manufacturer's featured payment has fallen by $60 from $559/month to $499. The price cut is also the result of a new $1,500 Spring Sales Event Bonus.

While lower-mileage leases could make sense given the state of the pandemic, shoppers should be mindful of the potential cost of overages. For example, Infiniti charges $0.25/mile while Jaguar charges $0.30. With the latter, an extra 5,000 miles of annual driving on a 36-month lease could add up to $4,500 in overages.

Well over half a dozen brands have made similar moves since late last year. It's not just luxury brands, too. While Lexus and Lincoln were among the first, even mainstream brands like Honda, Mazda, Toyota, and Nissan have added lower-mileage leases to offer consumers a greater array of options to choose from.

Top Presidents' Day Car & SUV Deals »

, 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

Privacy Policy|Do Not Sell My Personal Information|Terms of Use|Cookie Policy|Disclaimer|
COPYRIGHT 1999-2021 MH Sub I, LLC dba CarsDirect.com