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 the lease deals currently listed on their manufacturer's websites at or near $199 a month. While all were featured as of February 4, 2016, 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. Watch out, however, for additional charges like unaccounted acquisition and lease-end disposition fees. For more detailed pricing, check out our Price Promise® tool.
Most offers this month end on Leap Day! That's February 29. So enjoy the quadrennial novelty of it all.
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 have slightly higher monthly payments. Try to find a lease that strikes a balance among the miles you drive, a low monthly payment and low drive-off fees. Always add up the entire cost of the lease and compare those numbers before deciding. If all this needs clarification or you need to bounce ideas off someone who knows what's going on, don't hesitate to reach out to the Edmunds.com Live Help team for free assistance.
These premium deals are generally available only to customers with sterling credit ratings. There may be other programs for less stellar credit cases. 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 you sign 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 a good starting point.
2016 Buick Encore — $175-$185 per month/24 months
Buick's small and versatile crossover is available for as little as $175 per month with nothing due at signing — if you're a lessee of a competitive vehicle and live in the right area (Edmunds found it in the New York City area). Keep in mind that these leases are for only two years and only cover 20,000 miles of use. Offers will vary by region. Offers end February 29.
2016 Buick Verano — $191 or $199 per month/39 months
Buick's small, nimble Verano sedan is offered in several regional leases at $191 or $199 per month. Money due at signing will vary by region and will depend on whether the lessee is coming from a competitive lease. In some cases that's no money at all due at signing. Offers end February 29.
2016 Chevrolet Equinox LT — $199 per month/24 months
The Equinox is a practical midsize SUV and consistently one of Chevy's best-sellers. These $199-per-month leases include an allotted 20,000 miles, but the money due at signing differs by $500 depending on whether the customer is coming out of a competitive lease. Offer ends February 29.
2016 Chevrolet Malibu — $199 per month/39 months
Ask a Chevy dealer, and if your credit is solid, he will hand over a new 2016 Malibu sedan for you to drive for the next two years at only $199 per month. Different regions have similar deals or slight variations. These leases run 39 months and cover 1,000 miles per month, with additional miles charged at 25 cents each. These offers are on the all-new 2016 model Malibu. The previous-generation Malibu is still available, marketed as the Malibu Limited, and offers on it are covered next. Offers end February 29.
2016 Chevrolet Malibu Limited — $178-$199 per month/24 months
The previous-generation Chevrolet Malibu midsize sedan is now offered as the Malibu Limited alongside its successor. There are several regional lease offers on this model, with slight variations in money due at signing and monthly payment. These are low-mileage leases with 10,000 miles per year of use. Some are available with no money due at signing for customers coming out of competitive leases. Offers end February 29.
2016 Chevrolet Trax — $179 and $199 per month/24 and 39 months
Chevy's smallest crossover SUV is available at or below the price point depending on whether it's entering a 24- or 39-month lease and if the prospective lessee is coming out of a competitive lease. Terms will vary according to region. Offers end February 29.
2016 Chrysler 200 — $219 per month/42 months
Chrysler's midsize sedan is available in the New York City area for $2,999 at signing and $219 per month. Other regions may have other offers, so shop carefully. While this price falls just outside our target price window, the 200 is otherwise competitive with many other vehicles on this list. Offer ends February 29.
2015 and 2016 Fiat 500 — $199-$229 per month/36 and 48 months
Fiat offers its adorable 500 at several price points in different regions near our target price. There are several offers above or below that price, too. There's even one deal that runs a full four years at $199 per month. But watch out for the 10,000-mile-per-year limits (with additional miles at 25 cents each), and the $395 lease-end disposition fees. Offers end February 29.
2015 and 2016 Fiat 500e — $169 and $179 per month/36 months
It's a true electric for the cost of a boring everyday car. Maybe it's even cheaper. But you need to live in either Oregon or California and put down $1,999 at signing. Also, there will be a $395 disposition fee at lease end. Dealer contributions vary and have been known to vary greatly with this car. Additional savings are possible through various federal and local incentive programs for electric vehicles. Offers end February 29.
2015 and 2016 Ford C-Max — $149-$219 per month/36 months
Whether it's a hybrid or a plug-in hybrid, the C-Max is a reasonable transportation module available in various versions at various price points depending on region. Most leases run 36 months. Offers end April 4.
2016 Ford Fusion — $169 per month/36 months
Ford offers the 2016 Fusion in a vast number of variations, and this deal was found in Southern California. Other deals may appear during the next three months (this deal doesn't expire until April) in different regions. That noted, this is a low-mileage lease that allows only 875 miles per month. Offer ends April 4.
2016 GMC Terrain — $199 per month/24 months
This is the twin brother to the Chevy Equinox and is available at our price point in different regional offers around the country. The money due at signing varies by region and depending on whether the lessee is coming out of a competitive lease or not. There will also be variations on whether the vehicle being leased has two- or four-wheel drive. Offer ends February 29.
2016 Honda Accord LX-S Coupe — $219 per month/39 months
The two-door Accord joins the sedan near our price point after $2,299 at signing. The lease includes 1,000 miles of use each month. Additional miles cost only 15 cents each. Offer ends February 29.
2016 Honda Accord LX Sedan — $199 per month/39 months
The most popular version of the Accord sedan (four cylinders, automatic transmission, cloth interior) is available at $199 per month in a 36-month lease with a low $1,999 cost at signing. That includes a 1,000-miles-per-month allowance. Offer ends February 29.
2015 and 2016 Hyundai Sonata SE — $179 and $199 per month/36 months
It's Hyundai's mainstream sedan. And it's yours to drive for $179 per month after $1,499 at signing. But that's for the 2015 model. If you want the 2016, the initial buy-in rises to $2,399 and the monthly cost is $199. 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. Offers end February 29.
2016 Hyundai Tucson — $169 per month/36 months
Small crossovers are now at the heart of the new vehicle market, and Hyundai's stalwart Tucson is available at a price a full $30 below the target. That's a bargain that can't be ignored. Deal ends February 29.
2016 Jeep Cherokee — $169 per month/24 months
While this lease is regional to the New York City area (and is $30 per month below the price point), the Cherokee is a direct competitor to many crossover SUVs listed here. So this deal may be irresistible if you qualify. Deal ends February 29.
2015 and 2016 Kia Optima LX — $172-$226 per month/24 or 36 months
The stylish Kia Optima is now available with lease terms near our price point on 24- and 36-month leases in various regions around the country. Check your specific ZIP code for the exact numbers. Offers end February 29.
2015 and 2016 Kia Soul — $179 and $189 per month/39 months
Pay $1,999 at signing and a base model of Kia's super-cute-ute Soul is yours. At least for 39 months. For $179 per month you get a 2015. It's $189 for the 2016 model. Each lease comes with 36,000 miles of use. Offers end February 29.
2016 Kia Sportage — $183-$224 per month/24 or 36 months
Kia's small SUV comes in at our price point on several regional deals — and slightly higher or lower prices in other regions. Those we surveyed all ran either 24 or 36 months. Offers end February 29.
2016 Mazda 6 — $189 per month/36 months
Mazda's fine-driving midsize sedan is available at $189 per month after $2,014 at signing. The lease includes 36,000 miles of use, with additional miles at only 15 cents beyond that. Offer ends February 29.
2015 and 2016 Mini Cooper and Mini Cooper S Hardtop — $199-$249 per month/36 months
It's the Mini coupe that brought the Mini back to life in both regular Cooper and higher-performance Cooper S forms. Go for a 2015 model, and the Cooper is available for $199 per month after $2,014 at signing. Those numbers go up for the Cooper S and 2016 models. Offers end February 29.
2016 Mitsubishi i-MiEV — $189 per month/36 months
Mitsubishi's small electric vehicle is available at $10 under our monthly price point in 2016 form, but it takes a stiff $3,388 at signing. Additional savings are possible through various federal and local incentive programs for electric vehicles. Offer ends February 29.
2015 Mitsubishi Lancer ES CVT — $189 per month/36 months
Mitsubishi's 2015 model-year compact four-door costs $189 per month after a $2,988 or $2,998 initial buy-in. But there's also a $500 rebate! Offer ends February 29.
2015 Mitsubishi Outlander Sport — $189-$217 per month/36 months
This compact SUV is available at various price points depending on the specific trim level. There's a $500 rebate this month, too. Offers end February 29.
2015 Nissan Altima 2.5 S — $179 and $189 per month/36 months
Nissan offers several different lease programs for the Altima in different regions of the country — and this month Nissan is also offering a $500 rebate. These low monthly payments come with 12,000 miles of use per year and charge only 15 cents per additional mile. There is a disposition fee due at the end of the lease in most states. Offers end February 29.
2015 Nissan Juke S — $199 per month/36 months
Nissan's quirky Juke small SUV comes in at our price point after $2,999 down, but there's also a $1,000 rebate. Nissan's deals this month are highly regionalized, so check the company's website or with a dealer. Offer ends February 29.
2015 Nissan Leaf S — $199 per month/36 months
Though it's restricted to several states, getting the all-electric Leaf for just $199 per month after $2,399 at signing can be the right deal for the right commuter. Additional savings are possible through various federal and local incentive programs for electric vehicles. Offer ends February 29.
2015 and 2016 Nissan Rogue — $199 per month/36 months
Nissan is offering various regional deals on its Rogue small SUV. These leases include 1,000 miles per month, with additional miles for only 15 cents each. Note that this is for the current Rogue, 2015 or 2016 model years, and not the Rogue Select. Offers end February 29.
2015 Nissan Rogue Select — $189 per month/36 months
This is the older version of the current Rogue. If you want to buy it at the end of the lease, Nissan will charge $300 for the privilege. Offer ends February 29.
2016 Scion iA — $229 per month/36 months
It looks like a Mazda, drives like a Mazda and is made by Mazda, but it's the Scion iA — which will soon not be a Scion at all. But it's available right now for $229 per month with nothing due at signing. That's nothing, zero, zilch. The lease runs 36 months with 36,000 miles of use. And this offer will be around until April 4.
2016 Scion iM — $249 per month/36 months
It's Scion's newest five-door hatchback at $249 per month with nothing due at signing. So buy yourself a nice dinner after picking up your new iM and then reflect on the fact that you're driving one of the very last Scions. Offer ends April 4.
2016 Scion tC — $259 per month/36 months
The sporty 2016 tC is available at $259 per month — with nothing due at signing. And after 36,000 miles over three years, additional miles cost only 15 cents. Your lease will outlast the life of Scion itself. Offer ends April 4.
2015 Scion xB — $249 per month/36 months
Scion's practical and very square xB can be had now for $249 per month after nothing (as in zero bucks) at signing. Offer ends April 4.
2015 Smart Fortwo Electric Cabriolet — $199 and $219 per month/24 and 36 months
It's both a convertible and an electric car for a relatively low lease price. It takes $1,493 at signing and $199 per month for 36 months. Additional savings are possible through various federal and local incentive programs for electric vehicles. Offers end February 29.
2016 Subaru Legacy — $199 and $274 per month/36 months
That's $199 (after $1,869 at signing) for the 2016 Legacy. Or pay nothing down and it's only $274 per month. The lease includes 1,000 miles per month of use, with additional miles costing 15 cents each. Offers end February 29.
2016 Toyota Camry — $169-$219 per month/24 and 36 months
Toyota has slight variations on 2016 Camry leases around the country, so you'll have to check in your area. All the leases we've seen run 1,000 miles per month, with a disposition fee at lease end in most regions. But watch these closely. Some advertised deals don't include a $650 acquisition fee until you read about it in the fine print. Offers end February 29.
2015 Toyota Prius — $179-$209 per month/24 or 36 months
Toyota's iconic hybrid hatchback is available in some regions (but not all) on leases near our price point. Offers end February 29.
2015 and 2016 Toyota Prius C — $179 to $199 per month/24 or 36 months
The compact member of Toyota's Prius hybrid family is available in several regional deals across the country. Read the fine print in these, however; you may find an unexpected $650 acquisition fee in there. Deals end February 29.
2015 Toyota RAV4 — $199 per month/36 months
Toyota has several regional lease offers on its popular RAV4 that fall near our price point. But read the fine print. Some don't include a $650 acquisition fee in the advertised price, and some also include disposition fees at the end of the lease, too. This offer was advertised for the New York City area. Offer ends February 29.
2016 Volkswagen e-Golf — $179 per month/36 months
The all-electric version of VW's Golf hatchback is available at this keen price in several (but not all) states. The buy-in is $2,349 and there's a $350 disposition fee at lease end. Offer ends February 29.
2016 Volkswagen Tiguan S — $199 per month/36 months
VW's small-ish crossover is now available at the price point after $2,499 at signing. Offer ends February 29.
To find a dealership that knows how to treat shoppers right, please visit Edmunds.com's Dealer Ratings and Reviews.
To find a dealership that knows how to treat shoppers right, please visit Edmunds.com's Dealer Ratings and Reviews.