Current $199 Lease Deals
Making Sense of the Current $199 Month Lease Deals
Drive a brand-new car for only $199 a month. It isn't too good to be true. At any given time there are many factory-backed lease deals clustered around that price.
Here are 15 lease deals currently listed on their manufacturer's Web sites at or near $199 a month. While all were featured as of February 5, 2014, some aren't available in all regions of the United States. For comparison's sake, we've calculated the total cost of each lease to completion and further calculated what each costs per mile, assuming full utilization of the mileage allowance. For more detailed pricing, check out our Price Promise tool.
Not all leases are built exactly the same. Some leases ask for more money up front but have lower monthly payments. Some are the opposite; they entice you with a very low drive-off amount but slightly higher monthly payments. Try to find a lease that strikes a balance of the miles you drive, a low monthly payment and low drive-off fees. Always add up the entire cost of a lease and compare those numbers before deciding. (Check our "Deals of the Month" for an up-to-date list of lease deals.)
These deals are generally available only to customers with sterling credit ratings. And all lessees should remember that these monthly payments do not include sales tax and other fees.
There are subtleties to any and every lease. And tailoring a lease before signing it is the single best way to ensure you'll be happy as long as you're in it — and on your way out of it. But these heavily advertised leases with their discounted factory financing and aggressive pricing are good starting points.
2014 Buick Verano — $199 per month/24 months
The front-drive, non-turbocharged Verano is Buick's smallest sedan, and it's comfortable and quiet if not exciting. This is a short-term (24-month) and low-mileage (20,000 miles total) lease. The $3,109 due at signing for current GM lessees and owners is also on the high side. That buy-in drops to $2,609 if the lessee is coming out of a non-GM vehicle. Offer ends February 28.
2014 Ford Escape SE FWD — $199 per month/24 months
This is the only small SUV currently offered at $199 per month. The front-drive, four-cylinder Escape is versatile for family use, but don't expect to go rock crawling. The thick $3,059 due at signing is after $1,500 cash back from the factory, the lease is for two years and the mileage allowance is 21,000. In addition, the offer is restricted to certain ZIP codes. If you don't live there, you won't get this deal. Offer ends March 31.
2014 Ford Fusion SE FWD — $199 per month/24 months
Ford offers the Fusion in a vast number of variations, but this deal is on a nicely turned-out version of the simplest car. It's a 24-month lease that allows 21,000 miles over its duration, but the offer is restricted to some geographic areas. The $2,539 due at signing is after $1,000 cash back. Ford has other offers on different Fusion models, including a $279/month lease on the hybrid. Offer ends March 31.
2014 Honda Accord LX — $219 per month/36 months
The most popular version of the Accord sedan (four cylinders, automatic transmission, cloth interior) isn't currently available at our target price point. But this lease has a low $1,999 cost at signing, lasts a full 36 months, and allows up to a full 36,000 miles. It's available in 23 states and Southern California, which covers most of the country's population centers. The same deal with a $2,499 signing cost is available elsewhere, including Northern California. Sorry, San Francisco. Offer ends March 3.
2014 Hyundai Sonata GLS — $199 per month/36 months
It's Hyundai's mainstream sedan in its most mainstream configuration: four cylinders, front-wheel drive and an automatic transmission. Only $2,199 is due at signing — that's the first payment plus $2,000 in capitalized cost reduction — but there's also a $400 disposition fee at the end of the lease in most states. The 36,000-mile allowance is solid, with additional miles available for 20 cents each. Offer ends February 28.
2014 Kia Optima LX — $189 per month/36 months
Kia's brother to the Hyundai Sonata is a high-style sedan called the Optima. For this low monthly price it's offered with four cylinders, front-wheel drive and an automatic transmission. Only $1,850 is due at signing, but there is a $400 disposition fee due at the end of the lease in most states. And this lease offer is restricted to certain ZIP codes. Offer ends March 3.
2014 Mazda 6 Sport Automatic — $209 per month/36 months
The Mazda 6 is one of our favorite midsize sedans. This lease deal is for a four-cylinder version with front-wheel drive and an automatic transmission. Only $1,999 is due at signing. It's a 36-month lease that allows for 36,000 miles. But additional miles cost only 15 cents per mile. Offer ends March 3.
2014 Mini Cooper Clubman — $199 per month/36 months
This lease deal is for the non-turbocharged version of the Clubman. Returning Mini customers need $2,499 at signing, and there's another $350 disposition fee due at the end of the lease. Customers who aren't already Mini owners/lessees will need another $500. Mileage is restricted to just 10,000 per year, and additional miles cost 20 cents each. Offer ends February 28.
2014 Nissan Altima 2.5 S — $189 per month/36 months
There's $2,699 due at signing: first month's payment plus a $2,510 down payment in Chicago. In Southern California, it's $1,999 at signing with first month's payment, plus $1,810 down. So the offer varies around the country. The low monthly payment, however, comes with 12,000 miles of use per year and only 15 cents per additional mile. There is a disposition fee due at the end of the lease in most states. Offer ends February 28.
2014 Subaru Legacy 2.5i 6MT — $189 per month/36 months
Soon to be replaced by an all-new 2015 model, the 2014 Legacy still features all-wheel drive. Unusually, this lease is for a manual transmission model. There's $1,989 due at signing, and a full 36,000 miles are allowed. Additional miles are 15 cents each. There are additional lease deals on other Legacy models. Offer ends March 3.
2014 and 2014.5 Toyota Camry LE — $249 per month/24 months
Toyota designates Camrys with the Entune entertainment system as 2014.5 models, but there are 2014s still in dealer inventories. Both are available on the same lease terms, with $249 per month for 24 months or 24,000 miles. We've included these deals here because they require a very low down payment of only $999. Offer ends March 3.
2014 Volkswagen Passat S Auto — $189 per month/36 months
2014 Volkswagen Passat Wolfsburg — $199 per month/36 months
The Passat in two slightly different trim levels and slightly different prices. Both are powered by the base 2.5-liter four-cylinder engine. Both need $2,349 at signing, and any miles beyond the 36,000-mile allowance will be charged off at 20 cents per mile. The TDI diesel models are available on a separate deal that uses the same down payment, but runs $329 month. Offer ends March 3.