Ah, May, and the spring-summer buying season has begun. Yes, much of the country suffered through winter weather deep into spring, but as that becomes a vague memory it is time to examine the best car lease deals of the month. The good news is that the deals being offered this month reflect car manufacturers ongoing paranoia that the car market is weakening. So you can profit from that paranoia by eyeballing the compelling deals that are available in May.
Ford offers low-cost car lease deals
According to data provided exclusively to Driving Today by Swapalease.com, the nation’s largest car lease marketplace, Ford offered the most generous discounts on their compact and mid-size cars as May began. Ford’s difficulty in selling cars at retail no doubt was one of the prompts in its decision to ashcan many of its cars going forward. In contrast to Ford’s aggressive lease prices, most luxury vehicles and mid-size SUV brands maintained their lease prices in April and are expected to do so this month as well.
The vehicle that saw the largest price drop moving into the month of May was the Ram 1500 Crew Cab with a 28.70 percent decrease. The vehicle is offered at $169 per month, and even though an all-new 2019 version of the Ram 1500 is due in the fall, that is an eye-popping bargain.
Ram 1500 lease payment saw largest drop
Two of the aforementioned Ford cars were close behind the Ram 1500 in terms of lease-payment drops. The Ford Fusion midsize sedan at $199/month saw its payment fall 21.44 percent. Similarly, the Ford Focus compact car at $179/month was down 11.90 percent. The Infiniti QX80 SUV saw its monthly lease payment dip to $669/month, down 10.66 percent.
For the third consecutive month the Nissan Sentra compact car can be had for the lowest monthly lease price in the nation — $109/month. The Chevrolet Cruze and Ram 1500 Crew Cab tied for second-place in the bargain-lease sweepstakes with payments of just $169 per month.
While most vehicle prices have remained steady into the month of May, Swapalease reported many dealers have offered lower lease pricing on compact cars and midsize cars.
“It’s apparent that dealers are finding great value and opportunities in promoting lease opportunities with cars, as many of these vehicles have performance and features that rival today’s smaller and midsize utility vehicles,” said Scot Hall, Executive Vice President of Swapalease.com. “We may also want to watch how the price of gas plays a role in smaller car demand, as the price of fuel has risen a little over the last few months.”
Despite a very competitive lease market, some models saw monthly lease-payment increases. The vehicles with the largest increased monthly payment are the Honda Accord with a 29.37 percent increase, and the Lexus RX 350 with a 10.08 percent increase in price from the previous month. The Honda Accord is currently offered at $249 per month, while the Lexus RX 350 is offered for $429. Despite the lease-price increases, both vehicles are still significant values.
Headquartered in Cincinnati, Ohio, Swapalease.com facilitates lease transfers.