January Auto Lease Payments Up on Several SUV Brands While Others Slash Prices
While many SUV brands decrease lease payments, others increase monthly rates after the New Year to meet the segment average.
CINCINNATI – Wantalease.com, an online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of January. While many truck lease payments have remained steady, SUV lease pricing is experiencing a split in both increases and decreases – depending on the brand.
SUVs continue to be a category that garners a great deal of interest from new customers.
While Honda is increasing their lease payments on SUVs in the month of January, Toyota is decreasing lease payments on their SUVs. The three largest decreases were the Toyota 4Runner with a -17.78% decrease in payment, the Toyota RAV4 with a -12.62% decrease, and the Nissan Pathfinder with a -5.31% decrease. The 4Runner is offered at $299 per month, the RAV4 is offered at $209 per month, and the Nissan Pathfinder is offered at $329 per month.
The largest lease increases for SUVs in the month of January include the Honda Pilot, with a 12.06% increase from December, and the Honda CR-V with a 6.66% increase. The Honda Pilot is listed at $329 per month, and the Honda CR-V is listed at $239 per month.
“SUVs continue to be a category that garners a great deal of interest from new customers,” said Scot Hall, Executive Vice President of Wantalease.com. “It’s this demand that you continue to see some SUV brands increasing their lease offers, while others lower deals in hopes to sway potential customers away from the competition.”
Currently, the Ford Focus is priced the lowest of all leases coming in at just $159 per month. The Ford Focus is priced lower than the Nissan Sentra, which was the vehicle holding the lowest lease offer last month at $149. This month, the Nissan Sentra increased in monthly payments by 4.71%.
Other lease increases include those in the luxury category, which has seen an explosive increase in monthly payments. The BMW X5 M50i had a 20.88% increase and the Lexus IS 300 had a 20.34% increase. The BMW X5 M50i is now offered at $1,049 per month, while the Lexus IS 300 is now offered at $349 per month.
Originally posted on F&I and Showroom