CINCINNATI—Lease payments on SUVs began the year showing significant fluctuation, one new analysis shows.
The online car lease marketplace reported that in January truck lease payments remained steady, however, SUV lease pricing experienced both increases and decreases, depending on the brand, according to Wantalease.com.
While Honda is increasing its lease payments on SUVs in the month of January, Toyota is decreasing lease payments on its 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 at $209 per month, and the Nissan Pathfinder at $329 per month, Wantalease.com said.
The largest lease increases for SUVs in the month 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.
‘Great Deal of Interest’
“SUVs continue to be a category that garners a great deal of interest from new customers,” said Scot Hall, EVP 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.
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.