CINCINNATI—Is competition from leasing driving more consumers away from car loans?
A new report from Wantalease.com, an online car lease marketplace for new lease deals, reports 16 vehicle models are currently being offered for a $200 monthly payment or less, and that three vehicles are available for less than $150 per month.
The Honda Civic LX, Volkswagen Passat 1.8T S and Volkswagen Jetta S are all currently offered for less than $150 per month on Wantalease.com. The Volkswagen Jetta S is currently priced at $109 per month, making it the most affordable vehicle for October. The Volkswagen Jetta S has decreased in price by 5.78% since last month, the company said.
Three entry luxury cars are currently offered at less than $300 monthly. The Audi A3 2.0T FWD premium and the Lexus IA 200t (turbo) are both priced at $299 per month. The Acura ILX, is currently being offered at $199 per month. This vehicle has remained the same price since August of this year, demonstrating the brand’s desire to gain market share in the luxury category, Wantalease.com said.
“Prices on popular leased vehicles are remaining steady as we head into fall,” said Scot Hall, executive vice president of Wantalease.com. “As the holiday season approaches, as well as end-of-year deals, more dealers will proceed try to find ways to attract lease shoppers looking for presents for loved ones or just a good deal on a vehicle to close out 2017.”