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 per month. While all were featured as of July 7, 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.
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 — $179-$199 per month/39 months
Buick's small and versatile crossover is available for as little as $189 per month with only $699 due at signing — if you're a lessee of a competitive vehicle and live in the right area (Edmunds found this deal in Southern California). Keep in mind that these leases are for 39 months but they only cover 32,500 miles of use. Offers will vary by region and end on August 1.
2016 Buick Verano — $169-$199 per month/36 and 39 months
Buick's small, nimble Verano sedan is offered in several regional leases at $169 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. Offers end August 1.
2016 Chevrolet Equinox LT — $189-$219 per month/24 and 39 months
The Equinox is a practical midsize SUV and consistently one of Chevy's bestsellers. These leases include an allotted 10,000 miles per year, but the money due at signing differs depending on whether or not the customer is coming out of a competitive lease. Offers end August 1.
2016 Chevrolet Malibu — $199 per month/39 months
If your credit is solid, a Chevy dealer will hand over a new 2016 Malibu sedan for you to drive for the next two years for only $199 per month. These offers are on the all-new 2016 model Malibu, and the money due at signing varies on whether you're a current GM lessee or not. The previous-generation Malibu is still available, marketed as the Malibu Limited, and offers on it are covered separately. Offer ends August 1.
2016 Chevrolet Malibu Limited — $199 per month/39 months
The previous-generation Chevrolet Malibu midsize sedan is now offered as the Malibu Limited alongside its successor. These are low-mileage leases with 10,000 miles per year of use. This one is for no money due at signing, at least for customers coming out of current GM leases. Offer ends August 1.
2016 Chevrolet Trax — $178-$199 per month/39 months
Chevy's smallest crossover SUV is available at or below the price point depending on whether the prospective lessee is coming out of a current GM lease. Terms will vary according to region. Offers end August 1.
2016 Dodge Challenger — $129-$240 per month/24 and 36 months
Yeah, that's right. If you live in the New York City area Dodge is offering the big, muscular Challenger SXT coupe for only $129 a month. Of course it's the V6 version and not the Hellcat. In Southern California the same car is offered for $240 per month. Both leases require $2,999 at signing. Offers end August 1.
2016 Dodge Charger — $199 per month/36 months
Dodge's brawny rear-drive sedan is offered in some regions — near New York City and Southern California for example — for only $199 per month after $2,999 at signing. This is for the rear-drive, V6 powered SXT model. Offer ends August 1.
2016 Fiat 500 — $169-$219 per month/36 and 48 months
Fiat's nimble and cute runabout in "Sport" or "Easy" trim is available at the price point in different regional deals. The leases run as long as four years with 40,000 miles of use. Offer ends August 1.
2016 Ford C-Max Hybrid — $150-$199 per month/36 months
This small crossover combines hybrid efficiency with a practical size. It's available in regional deals at or below the price point. Offers end August 1.
2016 Ford Fusion — $139-$199 per month/36 months
Ford offers the 2016 Fusion in a vast number of variations, and the deals vary by region. These are low-mileage leases that allow only 875 miles per month.
2016 GMC Terrain — $179 and $199 per month/24 months
This is the twin brother to the Chevy Equinox and it's available at our price point in different regional offers around the country. The money due at signing also 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. Offers end August 1.
2016 Honda Accord LX-S Coupe — $209 per month/36 months
The two-door Accord is available near our price point after $2,299 at signing. The leases include 1,000 miles of use each month. Additional miles cost only 15 cents each. Offer ends September 6.
2016 Honda Accord LX Sedan — $189 per month/36 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. The lease includes a 1,000-miles-per-month allowance. Offer ends September 6.
2016 Honda CR-V — $199 per month/36 months
Honda's incredibly popular small crossover SUV is available at the price point after $2,299 at signing. The lease runs 36 months with 36,000 miles of use and additional miles are only 15 cents each. Offer ends September 6
2016 Hyundai Sonata SE — $179 per month/36 months
It's Hyundai's mainstream sedan. And it's yours to drive for $179 per month after $2,199 at signing for the 2016 model. There's 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 August 1.
2016 Hyundai Tucson — $199 per month/36 months
This recently redesigned small crossover has a sharp design and all the latest features. It's available right at our target price when you put $2,500 down, at least in Southern California. Offer ends August 1.
2016 Kia Optima LX — $199-$239 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 September 6.
2016 Kia Optima Hybrid — $183-$259 per month/24 or 36 months
Kia's Optima Hybrid is at least as stylish as its brothers with conventional equipment and gets even better mileage. Prices vary greatly according to region. Offers end September 6.
2016 Kia Soul EV — $169-$219 per month/36 or 48 months
It's the all-electric version of Kia's adorable hamster-hauler. Various deals are available in various regions with slight differences in monthly cost, down payment and term. Offers end September 6.
2016 Kia Sportage — $193-$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. The redesigned 2017 Kia Sportage is also available for lease but at a higher price point. Offers end September 6.
2016 Mini Cooper Countryman — $189 and $209 per month/36 months
Mini's take on the small SUV is available at 10 bucks under our price point after $2,459 at signing for the standard Cooper trim. The Cooper S will cost you $20 more per month and $2,679 at signing. Offers end August 1.
2016 Mitsubishi Lancer — $199 per month/36 months
Mitsu's sensible sedan hits our price point after $2,998 at signing. It's a bit steep compared to some other offers, so check your local zip code to see if less expensive options are available. Offer ends August 1.
2015 Mitsubishi Outlander Sport — $189-$252 per month/36 months
This compact SUV is available at various price points near our target depending on the specific trim level and model year. Some offers don't require money at signing. Offers end August 1.
2015 Nissan Altima 2.5 S — $159 and $189 per month/36 months
Nissan offers several different lease programs for the Altima in different regions of the country. 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 August 1.
2016 Nissan Leaf S — $188 or $199 per month/36 months
Though it's restricted to specific regions, it's possible to get the all-electric 2016 Leaf for just $188 per month after as little as $1,799 at signing. Deals on Leafs are also available in other regions at the $199 price point. Additional savings are possible through various federal and local incentive programs for electric vehicles. Offers end August 1.
2016 Nissan Rogue — $179 and $189 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 costing only 15 cents each. Note that this is for the current Rogue and not the older Rogue Select. Offer ends August 1.
2015 Nissan Rogue Select — $192 and $209 per month/36 months
This is the older-generation version of the Rogue smaller SUV. The deals vary by region. If you want to buy it at the end of the lease, Nissan will charge you $300 for the privilege. Offer ends August 1.
2016 Scion tC — $199 per month/36 months
The sporty 2016 tC is available at the price point, 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 August 1.
2016 Subaru Legacy — $199-$299 per month/36 months
That's $199 (after $1,869 at signing) for the 2016 Legacy. Or pay nothing down and it's only $275 per month. Or go for the version with the 3.6-liter six-cylinder engine and it's $299 per month after nothing down. The leases include 1,000 miles per month of use, with additional miles costing 15 cents each. Offers end August 1.
2017 and 2016 Toyota Camry — $169-$255 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. There's even a lease offer in Southern California on the 2017 model Camry. 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 August 1.
2016 Toyota Corolla LE — $139-$195 per month/36 months
Toyota's compact Corolla is available at only $195 per month with nothing, zero, zip, nada due at signing. At least if you're living near Chicago and have the credit chops. Other deals have the Corolla down near $139 per month after some money down in other areas. Deals end August 1.
2016 Toyota Prius C — $189 per month/36 months
If you live in Southern California, the compact Prius C hybrid is available at $189 per month after $1,999 at signing. The Prius C and other Prius models are available at different price points in several different regions. Offer ends August 1.
2016 Toyota RAV4 — $179-$255 per month/36 months
Toyota's versatile compact SUV is available in many different advertised factory leases around the country. One offered at $255 per month in the Chicago area requires no money at signing. As with other Toyota leases, be sure to read the contract, as some have a $650 acquisition fee buried in there. Offers end August 1.
2016 Volkswagen Passat — $189 per month/36 months
The family-friendly and roomy Passat can be leased for $10 below our price point after $1,999 at signing. The three-year lease only covers 30,000 miles of use, however. Offer ends August 1.
2016 Volkswagen Tiguan — $189 per month/36 months
As it nears replacement, the VW Tiguan remains an interesting alternative to other compact SUVs. It's available at $189 per month after $2,499 at signing, with the three-year lease including 30,000 miles of use. Offer ends August 1.
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.