While Many Lease Payments Hold Steady, Some Brands Decrease Monthly Rates While Others
Test an Increase in Rates
Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of February. Many lease payments are holding steady from January to February. However, there are a few car brands continuing to lower monthly rates while others increase their rates.
Like last month, both Honda and Toyota are continuing to decrease leasing payments. The largest decreases for the month included the Honda Civic with an -11.16% decrease, the Toyota RAV4 with a -6.84% decrease, and the Honda Pilot with a -5.38% decrease. The Honda Civic is offered at $159 per month, the RAV4 is offered at $189 per month, and the Honda Pilot is offered at $309 per month.
The largest lease increases include the Acura MDX, with a 15.48% increase from January, the Audi A3 with a 13.16% increase, and the Chevrolet Silverado truck with an 8.60% increase. The Acura MDX is listed at $469 per month, the Audi A3 is listed at $369 per month, and the Chevrolet Silverado is listed at $299 per month.
“While there were a few large increases and decreases in lease rates from January to February, most vehicle leasing payments stayed relatively steady,” said Scot Hall, Executive Vice President of Wantalease.com. “It will be interesting to see what changes in the industry as more Americans begin to receive their stimulus.”
Currently, both the Honda Civic and the Ford Focus are priced the lowest of all leases coming in at just $159 per month. The Nissan Sentra's leasing rate held steady from last month and is listed at $169 per month.
Other slight lease increases include the Nissan Altima with a 3.37% increase and the BMW X5 M50i with an additional increase from last month. The Nissan Altima is now offered at $229 per month and the BMW X5 M50i is now offered at $1,069 per month.
Wantalease.com is a sister marketplace to Swapalease.com, the nation’s largest online marketplace for leases.