August is the home stretch of the model year and a great time to seek out the best car lease deals. It is the season when some of the hottest deals of the year arrive, because the model year is about to change. It can also be a tricky time to lease a car, since the end of the model year has an effect on residual values, and that affects the lease payment. But a manufacturer-sponsored lease — usually heavily advertised — is typically a safe bet this time of year.
The best car lease deals for this month stretch across a wide range of vehicles. If you are looking for a large vehicle to tow a boat or trailer, the deals are there for you. And if you’re seeking a small commuter car, instead of the highly popular SUV, your timing couldn’t be better. Carmakers are offering great leases on small and midsize sedans this August.
North American Car of Year Tops List
One of the best car lease deals this month comes as a big surprise, because it is on the reigning North American Car of the Year. The roomy, comfortable, economical and fun-to-drive Honda Accord is now being offered at an exceptional lease rate. The 2018 Accord Sedan LX is $249 per month for 36 months with $2,399 total due at signing.
Another lease deal worth taking a long look at is on one of our top-rated midsized crossovers, the Kia Sorento. As fuel prices continue to creep up nationwide, the Sorento offers a winning combination of utility and fuel economy. Now through September 4 you can lease a new 2018 Kia Sorento L for $199 per month for 36 months. A lease initiation fee of $2,799 is due at lease signing.
If you are looking for something you won’t see on every corner, one of the best lease deals this month is on the perky, fun-to-drive Hyundai Kona hatchback. Despite the fact the Kona is relatively new to the market you can lease it for $199 per month for 36 months with $2,399 due at lease signing.
Hyundai has also renewed its offer on the leading-edge 2018 Ioniq Plug-in Hybrid sedan through Labor Day weekend. The lease deal is at $269 per month for 36 months with just $1,999 due at lease signing. Depending on your commute length, you might only have to buy gasoline once a month.
If you are looking for a roomy crossover with a good quality reputation, you’ll probably be interested n the current lease offer on the Chevrolet Equinox. One of the largest vehicles in its segment, the Equinox is being offered for $242 per month for 39 (not 36) months. A lease initiation of $1,742 is due at signing.
Seeking a small car? We like the Toyota Corolla iM a lot, and right now it is available for as little as $179 per month for 36 months with $1,999 due at signing. Note that this offer, like many, is regional so the rate might be slightly higher in your area.
In the market for a full-size pickup truck? It’s a great month for that. The 2018 Ford F150 STX SuperCab XL with the 2.7-liter EcoBoost engine is being leased in selected areas for $259 per month for 24 months. There is, however, a hefty $3,099 due at signing.
Another knockout lease deal on a full-size pickup is the offer on the all-new 2019 Ram 1500 Big Horn. The completely revamped 2019 Ram 1500 is offered for just $279 per month for 36 months with $3,999 due at lease initiation.