CINCINNATI—A good sign for car buyers—lease prices are holding steady as the New Year begins.
As CUToday.info reported, analysts were concerned late last year that lease payments would rise in 2018 as residuals on leased vehicles fall due to an influx of high-quality used autos coming off lease.
Wantalease.com reported that 33 different vehicles maintained their prices from the previous month to this month.
Only one vehicle is currently offered for less than $150 per month on Wantalease.com. The Honda Civic LX is currently priced at $149 per month, making it the most affordable vehicle for the month. The Honda Civic LX has maintained this lease price for the past five months.
While most vehicle prices held steady entering January, dealers continue to offer aggressive prices on entry-level luxury in particular. 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 offered at $199 per month, and has maintained this price since August of 2017, Wantalease.com stated.
“Overall, lease prices seem to be holding steady as we kick off the New Year,” said Scot Hall, executive vice president of Wantalease.com. “While prices are holding steady for the time being, it will be interesting to see if dealers introduce a new wave of promotions to take advantage of tax rebates and the recently changed tax rate.”
The vehicle that saw the largest price drop entering the New Year is the Toyota RAVA 4 LE FWD. This vehicle, which is currently offered at $199 per month, decreased in price by 16.42% in comparison to last month. On the other hand, the Ram 5’7” Box saw the largest increased in monthly payment, rising by 37.40% in December. This truck is currently offered at $329 per month, Wantalease.com noted.