This Is The Worst Lease Deal For Labor Day 2019

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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 - August 30, 2019

If you're looking for a deal this Labor Day, you're probably going to want to avoid the Chevy Sonic. At $299 for 39 months with $3,069 due at signing, we consider this the single worst deal on any car. At that price, our analysis finds that you could save $74/month by choosing an Equinox instead.

This "deal" is for the 2019 Sonic LT Hatchback with an allowance of 10,000 miles/year and an MSRP of $19,420. Its effective cost comes out to $378/month before taxes & fees. The 2019 Equinox LT (MSRP $28,395) is listed at $189 for 39 months with $4,479 at signing, or $304/month.

Both models have the same mileage allowance, but the Equinox has an MSRP of $28,395. Even though it looks almost $9,000 more expensive on paper, better incentives make the Equinox $74/month cheaper to lease. This is largely because Sonic deals often favor buying instead of leasing.

At the moment, that means having a choice between $2,000 cashback or 0% financing for 60 months plus a $250 bonus. Unlike other Chevys, the Sonic doesn't benefit from a special Labor Day promotion involving No Payments For 90 Days when financing through GM Financial.

Here's a list of vehicles that are more expensive than the Sonic but cheaper to lease.

1. Acura TLX: MSRP $33,995, Effective Cost $368/month

2. Nissan Murano S: MSRP $32,850, Effective Cost $316/month

3. Honda CR-V EX-L: MSRP $30,945, Efffective Cost $362/month

See All Top Labor Day 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

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