Best Lease Deals: December 2024

Our collection of standout lease deals for November includes a couple of electric vehicles, a pair of pickup trucks, a hybrid, and even a plug-in hybrid. There are also a handful of conventional powertrains in SUV and sedan form.

More lease deals: SUV Lease Deals | Truck Lease Deals | Cheapest Lease Deals | Under $300 Lease Deals

Here are 10 of the best lease deals in December 2024.

1. 2024 Acura ZDX

The 2024 Acura ZDX is the brand’s first-ever EV, with a maximum range of 313 miles, premium design, and luxury features. This month’s lease special covers the 2024 ZDX A-Spec with rear-wheel drive (RWD). The ZDX’s lease price puts it in mainstream gasoline SUV territory but with the style and quality of an Acura and the quiet thrust of electric drive. This lease deal is for qualified current owners of a 2014 or newer Acura and select competitor brands.

Price: $65,850
Current offer: $4,999 down and $319/month for 27 months
Expires: 1/2/2025

See 2024 Acura ZDX models near you

2. 2024 Chevrolet Equinox EV

With sleek looks, 319 miles of range, and eligibility for the Super Cruise hands-free partial self-driving system, the front-wheel-drive 2024 Chevrolet Equinox FWD 2LT on special this month is at the sweet spot of the range, with a great balance of features and price. One thing the Equinox EV doesn’t offer, however, is Android Auto or Apple CarPlay; instead, it uses its own Google-based system. To qualify for this deal, you must be a current lessee of a 2019 or newer vehicle.

Price: $43,295
Current offer: $3,169 down and $299/month for 24 months
Expires: 1/2/2025 

See 2024 Chevrolet Equinox EV models near you

3. 2024 Ford Ranger

The 2024 Ford Ranger is a crew cab midsize truck that sits between the Maverick compact pickup and the full-size F-150. It’s a good size for most people, with more maneuverability and plenty of capability. The model on lease special this month is the XL 4×2 with the STX appearance kit and a 270-horsepower turbocharged 4-cylinder engine.

Price: $34,415
Current offer: $3,759 down and $359/month for 36 months
Expires: 1/2/2025 

See 2024 Ford Ranger models near you

4. 2024 Honda Accord

The Honda Accord is a legend for a litany of reasons, including its comfort, quality, refinement, and technology. Completely redesigned for 2023, the base Accord LX is nicely equipped, especially considering this month’s bargain pricing. If you’d prefer even more equipment, the 2024 Accord EX is available for $3,999 down and $269/month for 36 months.

Price: $28,990
Current offer: $3,499 down and $259/month for 36 months
Expires: 1/2/2025

See 2024 Honda Accord models near you

5. 2025 Honda CR-V Hybrid

The 2025 Honda CR-V‘s stylish looks and fresh features add to the compact SUV’s already desirable comfort, utility, reliability, and value. If you’d like an all-wheel-drive hybrid version, the 2025 CR-V Sport Hybrid is on lease special this month. It offers 37 mpg and features like a 7-inch touchscreen, leather-appointed details, and orange contrast stitching. Shopping tip: If you can make do with front-wheel drive, you can get it for the same monthly lease payment but with $3,799 down.

Price: $37,500
Current offer: $4,399 down and $359/month for 36 months
Expires: 1/2/2025 

See 2025 Honda CR-V models near you

6. 2024 Kia Forte

The 2024 Kia Forte combines style, space, and tech equipment with value pricing. The Forte LXS on special this month isn’t the base model but rather the middle of the range. Standard features include wireless smartphone integration, an 8-inch center display, and Kia’s Drive Wise driver-assist suite. The same model is also available for a 36-month lease term for an additional $10/month.

Price: $21,645
Current offer: $3,499 down and $189/month for 24 months
Expires: 1/2/2025 

See 2024 Kia Forte models near you

7. 2024 Kia Sportage Plug-in Hybrid

All-new for the 2023 model year, the 2024 Kia Sportage builds on its solid reputation with sharp design, excellent rear legroom, a large cargo area, and great value for its features. The best Kia SUV deal this month is the 2024 Sportage Plug-In Hybrid, or PHEV, which offers 34 miles of all-electric range and the comfort and practicality of the Sportage platform and comes with AWD and X-Line styling elements. If you’d like to keep the lease for longer, a 36-month term is available for the same money down and $269/month.

Price: $40,965
Current offer: $3,999 down and $259/month for 24 months
Expires: 1/2/2025 

See 2024 Kia Sportage models near you

8. 2025 Subaru Outback

With ground clearance that rivals most SUVs and outclasses many, the 2024 Subaru Outback might technically be a wagon, but it’s a do-it-all wagon that’s also a real value in this month’s lease deal. The base model comes nicely equipped with standard all-wheel drive, LED headlights and fog lights, automatic high beams, and a durable cloth interior.

Price: $30,315
Current offer: $3,049 down and $299/month for 36 months
Expires: 1/2/2025

See 2024 Subaru Outback models near you

9. 2025 Toyota Corolla Hybrid

If you’re in the market for an efficient, affordable, and small-but-spacious hybrid sedan, the 2025 Toyota Corolla Hybrid is hard to overlook. One of the most logical choices you can make is the Corolla Hybrid, which scores up to 50 mpg combined and is in the base LE form on lease special this month. It includes LED headlights, wireless smartphone integration, and automatic climate control.

Price: $24,760
Current offer: $2,999 down and $289/month for 39 months
Expires: 1/6/2025

See 2025 Toyota Corolla models for sale

10. 2024 Toyota Tacoma

When it’s time to play as hard as you work, nothing is quite as useful as a midsize pickup truck, and the 2024 Toyota Tacoma is an excellent example of a midsize pickup truck. The Tacoma TRD Sport on lease special this month gets upgrades like a sport-tuned suspension, LED daytime running lights, a hood scoop, the 278-hp (50 hp more than the base engine) turbocharged 4-cylinder, 4-door Double Cab configuration, and 2-wheel drive (2WD).

Price: $40,895
Current offer: $3,999 down and $299/month for 39 months
Expires: 1/6/2025

See 2024 Toyota Tacoma models near you

Best Lease Deals in December 2024

1. 2024 Acura ZDX
2. 2024 Chevrolet Equinox EV
3. 2024 Ford Ranger
4. 2024 Honda Accord
5. 2025 Honda CR-V Hybrid
6. 2024 Kia Forte
7. 2024 Kia Sportage Plug-in Hybrid
8. 2025 Subaru Outback
9. 2025 Toyota Corolla Hybrid
10. 2024 Toyota Tacoma

Here are a few things to keep in mind about leasing deals: 

• Many lease deals are limited to a geographic region. 
• Vehicle availability is restricted to what the dealership has on hand. 
• Unlike typical leases, there isn’t much room for negotiation on exceptional lease offers. 
• The cheapest lease payments advertised are offered to customers with the best credit scores. 
• Prices above include destination charges but not tax, title, licensing, or other mandatory fees.

Searching for the best car lease deal requires more than skimming the low monthly payments in ads. Leasing a car has many benefits but the option isn’t the best choice for every car shopper. Read more to understand how leasing works and decide if taking advantage of a great lease deal is right for you.  

Is Leasing a Car a Good Idea?

Leasing a car is a good option for many people, but it isn’t the best choice for everyone.

Your decision to lease rather than buy a new car depends on many factors.

Choosing to lease generally provides these advantages:

• Low to no down payment: Some car lease deals require either no down payment or a very low one, unlike the financing offers available for many buyers. 
• Less money initially: Because of low or no down payments, initial costs of leasing are less than if you pay with cash or finance the vehicle purchase. 
• Pay car depreciation, not interest: Monthly lease payments are lower than payments for financed automobiles. With a lease, you’re basically paying for the car’s depreciation. You’re paying for the vehicle itself when financing the purchase, plus interest to the lender. 
• Drive new cars: Leasing allows you to switch cars more frequently. A typical lease lasts three years or less. When it ends, drivers can start a new lease with another new car with the latest safety and infotainment features if they choose not to purchase the vehicle. 

But leasing a car also has drawbacks: 

• Mileage limits: Many drivers may find it challenging to drive less than the mileage limitations specified in leases. Low-cost lease deals are conditional on logging fewer than 12,000 miles or even 10,000 miles per year. 
• End-of-lease fees: If you exceed the mileage in the lease contract, you can be on the hook for significant fees. There may be a fee just to turn in the vehicle at the end of the lease. At that time, the dealer will evaluate the vehicle’s condition. You’ll be required to fix damage or may need to pay penalties for excessive wear and tear, such as scratches and scrapes. 
• No modifications or upgrades: Leases rarely allow for any type of vehicle modification. This means that you cannot install a custom stereo system, upgraded wheels, or window tinting. 
• Hassle: When a lease ends, you must return the car to the dealership. Many drivers view this as a good thing since they don’t have to sell it or trade it in. But it also means you’re back to square one. You must start over with a new lease on a different car, purchase the vehicle you were leasing, or buy another car. 

What to Know About Car Leasing Deals

You must understand the ins and outs of a car lease when you begin shopping for a vehicle. Evaluate the pros and cons of leasing to determine if it is the right choice for your situation, lifestyle, and budget. 

New car prices are at record highs. The average price consumers paid for a new car reached $47,000. As a result, many vehicle shoppers are attracted to leasing due to lower monthly payments, but look carefully at the small print in advertisements. Lease deals sometimes apply only to specific models and trim levels that the manufacturer wants to move. 

Pay attention to details in the deal to ensure it meets your needs for an annual mileage allowance. For example, the bold words and numbers highlighting low payments might overshadow a limitation of only 10,000 miles per year. 

Leasing and Your Responsibilities

Unlike ownership, car leasing works like a long-term rental. You are paying to use the car for a set period and not purchase it. Even though you don’t own it, you are responsible for its care and maintenance, and you are required to have proper insurance coverage. 

Because the leasing company owns the vehicle, it may require you to have even more insurance than what your state mandates. The lessor might dictate a lower deductible for that coverage, too. Additionally, some lessors require guaranteed asset protection – known as GAP insurance – in the event of a total loss to cover the difference between the amount owed and the vehicle’s actual value. 

How to Get the Best Leasing Deal

Special lease offers from automakers usually restrict consumers, while typical leases can offer flexibility. Comparison shopping and keen negotiation tactics will help you get the best leasing deal. 

In general, shopping to lease a car works similarly to buying a vehicle. Research is the key to your preparation. Other steps to take include: 

• Check your credit. Consumers with lower credit scores will pay larger down payments to get approved. It’s better to know your score early in the process to avoid any bad surprises. 
• Check your budget. Figure out how much cash you can pay upfront. Know that some deposits and fees must get paid when you sign a lease, and many are not negotiable. The lessor may also require a down payment. 
• Calculate your average annual mileage. Most leases have an average yearly mileage cap of 10,000 miles to 12,000 miles. Be realistic with your driving estimate. There’s a penalty for each mile you drive over the annual allowance. 

Lease Deals at the Dealership

When you get to the dealership, concentrate on the total cost and avoid negotiating the monthly payment, which can lead to additional charges sneaking into your deal. 

Just as you would do when buying a new car, negotiate the capitalized cost (that is the selling price in leasing terminology) of the vehicle separately. Then move to other areas, including the money factor (the interest rate), annual mileage allowance, and lease length. 

The concept of leasing works the same across the board, but even if you are not new to leasing, you must remember that every contract is different. Sift through each line item before signing and negotiate any dealer fees it contains. As with financing a vehicle, you can walk away instead of agreeing to a deal you don’t like. 

What a Lease Might Cost

For a good deal on a traditional lease, expect to pay $100 to $150 at most per $10,000 of a new car’s price. At $40,000, that’s between $400 and $600. A vehicle with a lower MSRP will mean a lower monthly lease payment. When estimating your total cost of a leased new car, be sure to include any down payment, acquisition, and disposal fees. 

How Leasing a Car Works

In the simplest terms, leasing is like an extended car rental. When leasing, you pay a monthly fee to a leasing company to drive their car for a defined period under conditions specified in the contract. Although you don’t own the vehicle, you are responsible for its upkeep, maintenance, and insurance. 

You pay the car’s depreciation, or estimated loss of value, during the lease period. You are also paying for the interest on the money the lessor used to buy the car. 

When you finance a car, your monthly payments repay the money you borrowed and build equity in the vehicle. 

Is Leasing More Affordable?

Monthly lease payments are almost always less than the monthly financing payments for the same vehicle. In the short term, a lease will cost less. 

However, two leases back-to-back cost more than the cost to own one of those cars. After five or six years, you will pay off the financed loan, and the car’s remaining value is yours. When a lease ends, you turn in the vehicle and have only memories, unless you buy the car. 

To determine the cost of a lease, multiply the monthly payment by one less than the number of months in the lease. Then, add the fees, down payment, and other money required at lease signing. (The first payment is usually due at signing, so that’s why one month is removed before multiplying the lease term by the payment amount.) 

Leasing Lengths

The most common lease term, or length, is 36 months. Two-year or 24-month leases are also popular. You can also find 39- and 42-month terms. 

It’s possible to lease a car for a shorter term – one year, for example – but that isn’t always prudent. New cars typically depreciate as much as 30% by the end of the first year. Because monthly lease payments are based on depreciation, those twelve payments would be costly. 

Can You Lease a Used Car?

Yes. Even though car leases work primarily for new vehicles, several manufacturers offer leasing options through their Certified Pre-Owned programs. CPO vehicles are gently used, newer model cars with factory warranties and other benefits. 

Leasing vs Buying: Which is Better?

The lease vs. buy question has many variables, and you must consider your preferences and budget. It’s a personal decision because every situation is unique. 

Leasing brings advantages that benefit many drivers. Others find the drawbacks of leasing outweigh those benefits. You must weigh the differences between leasing and buying to decide what option works best for your needs. 

Leasing 

• Monthly payments: In most cases, lease payments are lower than loan payments for the same vehicle. 
• Early termination: Ending a lease before it expires will require paying a hefty fee. 
• End of term: You might face penalties for exceeding the mileage cap or excessive wear, but you’ll be about to return the car to the lessor at the end of the lease. 
• Mileage: A lease restricts how many miles you can drive the vehicle. Exceeding the annual mileage allowance will generate a fee of between 15 cents and 50 cents for every mile above the mileage cap. 
• After-market: You may not install custom features such as stereos or window tinting because you do not own a leased vehicle. 
• Warranty: Most leased vehicles are covered by a warranty for the duration of the lease, easing the financial burden when repairs are needed. 
• Taxes: Some savings happen with a lease because most jurisdictions calculate sales tax based on the monthly payment instead of the car’s value. 
• Credit: Leasing companies offer the best lease deals to consumers with impeccable credit histories. 

Buying 

• Monthly payments: Loan payments are usually more than lease payments for the same vehicle. 
• Early termination: You can trade or sell your car at any time if you’re financing the vehicle, provided you satisfy the loan balance. 
• End of term: The car is yours to keep, sell, or trade when the loan is satisfied. 
• Mileage: There is no mileage restriction when you finance a car. 
• After-market: You can enhance and upgrade your ride however you like when you finance or pay with cash. Just be careful not to let your customization void the vehicle’s warranty. 
• Warranty: As your car ages and its warranty expires, you will probably face costly repairs down the road. 
• Taxes: In most cases, you must pay some type of sales tax on the vehicle’s entire value or selling price. 
• Credit: Poor credit means a higher down payment and less favorable rates for an auto loan. 

Top 10 Things to Know About Leasing a Car

1. Put down only the required amount of money. When you spend cash on a lease, you do not see those funds again. 
2. Maintain your leased vehicle exactly as the owner’s manual outlines. Some leases cover all or part of periodic maintenance, but most contracts require the work to be done at your expense. 
3. Taking advantage of monthly special lease deals that automakers subsidize can save you hundreds of dollars or more. 
4. Research vehicle models that retain their value. Value retention is important because the more value a leased car is expected to keep, the lower the monthly payment for that model. 
5. Most lessors will gladly extend a lease on a month-to-month basis or a fixed number of months. Reducing the length of your lease is a different matter that involves an early termination fee or a substantial payment to satisfy the remaining lease payments. 
6. Reduce monthly payments by negotiating a lower capital cost (vehicle price) and a better money factor (interest rate). 
7. Shopping around might help locate better deals. Don’t be afraid to walk away before signing a lease. 
8. Excess mileage fees typically range between 10 cents and 25 cents per mile. Avoid hefty fees at the end of the lease by carefully estimating your annual driving habits. 
9. Calculate other lease offers to determine which one costs less. In the end, one model with lower monthly payments might cost more than another lease deal because it requires more money at lease signing. 
10. Advertised payments typically are reserved for customers with the very best credit scores. 

How Credit Impacts Leasing

A leasing company will use your credit score and credit history to determine whether it will lease to you. Your credit score carries significant weight. Leasing companies tend to be pickier when evaluating lessees rather than buyers. 

Having good credit is required. Having an excellent credit score allows you to get the best leasing deals. 

Be sure to check your credit score during the early stages of your car shopping research. You will need time to fix any errors. More importantly, you should use the opportunity to avoid an unpleasant discovery at the dealership when you’re ready to strike a deal. 

Can You Lease with Bad Credit?

If your credit score is in the low range of 501 to 660, you might be able to find a lender willing to lease to you. You should expect to put down a substantial down payment. Also, you can expect a higher-than-average interest rate.