Most people buy a car rather than lease it, which in many cases makes sense but not always. However, if one wanted to get a Scion iQ lease or a lease on a number of other models, they will probably be able to do it for dirt cheap thanks to automakers not charging much.
Scion iQ lease among other cheap rentals
Hardly anyone thinks about leasing a car. There are some pretty good reasons for it; the mileage one can drive is very limited, there’s a deposit involved and some other drawbacks. However, there are also some benefits. Depreciation is not realized by the leasee, whereas a car owner takes it right in the wallet.
In many cases, the payments are also lower. Much lower, in fact. For instance, a Scion iQ lease, according to AutoGuide, is only $99 per month for 36 months, with a $1,969 down payment at signing. Part of it is to head off the Chevrolet Spark at the pass, part of it is to get more iQ minis out the door. Scion isn’t alone either, as a number of cars from various makers are available to lease on the cheap.
Volt, Leaf lease at rock bottom too
Aside from the Scion iQ lease offer, some other cars are getting big time discounts if an interested party were to lease, rather than buy. Chevrolet, for instance, according to CNN, is offering a significant discount on a Chevy Volt lease. For $2,800 down, a Volt can be leased for $269 a month, down from the normal lease of $450 a month.
That’s a sure-fire way to actually save money on gas with the Volt, without the green premium killing the possibility of realizing a savings. GM takes a hit on the deal, but the reason why a cheap Volt lease is possible is that the dealer, which has technically bought the car, is able to claim the $7,500 tax credit and pass the savings on to the consumer.
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Likewise, Nissan, according to AutoEvolution, is offering Californians the chance at a cheap Nissan Leaf lease. For $2,995 at signing, the Leaf can be leased for $139 per month for 24 months, down from the normal lease payment of $219 per month.
Look for cars that aren’t selling
The Scion iQ lease, Volt lease and Leaf lease, one would easily notice, are all pretty darn cheap. There is another thing all three cars share in common, in that none of the above sell. Very few people are walking into Portland, Denver, Birmingham, Atlanta or Edmunds Scion dealers and asking about the iQ. Likewise, Nissan isn’t shifting too many Leafs and Chevrolet isn’t selling that many Volts, though sales for that car are picking up.
One way to score a cheap lease is to pay attention to which models don’t sell. There’s a decent chance that after a year or two of the model being on the market, the maker will start leasing them for not a lot of money.