10 Cars Making You Happy Leases Are Back
Leases are a less costly way of getting behind the wheel of a new car, but those short-term deals disappeared during the economic downturn. Tightened credit took car buyers out of the lease market, while automaker bankruptcies ended lease offers altogether for a time.
Leases are making a comeback, but rising used car values, shrinking used car supply and a changing credit landscape are making them much different than the boom-era leases buyers may remember. Three years and 36,000 miles with $0 down payment? Try two years and 20,000 with a down payment similar to the price of a used car.
Brandy Schaffels, an analyst at auto pricing site TrueCar, says there are still deals to be had in the recovering auto lease market. The following deals offer buyers some options while providing an alternative to costly financing plans or upfront payments:
10. 2012 Honda(HMC) Civic 4-Door Automatic LX
Monthly lease payment: $220
Down payment: $0
Miles per year: 12,000
Take a long, hard look at these lease terms. It's the last time you'll see them in this story. Though it falls short of a three-year lease by a month, this 35-month, 36,000-mile deal is only sweetened by an Eco Assist engine that gets a combined 32 miles per gallon. It's a throwback lease for a compact that's more timely as ever.