Best Luxury Suv Lease Deals 2022 (2024)

FAQs

What is the best month for lease deals? ›

End of the year: October through December

They may be willing to negotiate with you for lower payments, lower upfront costs, and optional equipment. October - Everyone is excited to see the new models, so take advantage of this excitement and make a deal on a leftover model.

Midsize luxury SUVs are also a good choice for families with young children, as they offer plenty of cargo space and easier access to the rear seats than smaller SUVs. The best-selling midsize luxury SUV in the U.S. in 2022 was the Lexus RX, followed by the BMW X5 and the Mercedes-Benz GLE-Class.

Luxury cars retain their residual value. When determining payments, this “turn-in” value should keep the price lower. Another reason to lease a luxury car is there is less maintenance. Your leased vehicle is covered by the manufacturer's warranty and sometimes also includes a warranty from the dealer.

Overall, only 8.5% of these high rollers paid cash. Around 31% leased and 60.4% took out a loan with an average payment of $2,201 and an average term of 56 months. For comparison, the general market in 2021 saw 9% of buyers paying cash, 20% leasing, and 70% taking out a loan.

In 2024, whether to buy or lease a car depends on your individual needs and lifestyle. With manufacturers pushing more attractive lease deals, leasing may become a more appealing option for many. Leasing is a great way to avoid the worst effects of today's high interest rates.

3) End of the Month, Quarter, or Year: Car dealerships work hard to meet sales targets at the end of each month, quarter, and year. There could also be manufacturer-sponsored leasing and financing deals available at these times. If the timing is right for you, you may score extra savings.

If your goal is to have low monthly payments and drive a new vehicle every few years with little hassle, then leasing may be worth the additional cost. Be sure, however, that you can live with all the limitations on mileage, wear and tear, and the like.

Why are car leases so expensive now? The cost of cars has significantly increased, as has the cost of leases. Plus, many current lease contracts aren't as favorable toward drivers as they once were – a result of increased demand for new cars.

Leasing helps protect you against unanticipated depreciation. If the market value of your car unexpectedly drops, your decision to lease will prove to be a wise financial move. If the leased car holds its value well, you can typically buy it at a good price at the end of the lease and keep it or decide to resell it.

But what about the acquisition methods employed by America's millionaires? According to my national survey database of millionaires, overall only 11.3% [about 1 in 9] leased their most recently acquired vehicle. Also, only 13.8% of millionaires indicated that they leased a Mercedes-Benz [Toyota 8.0%].

What is the most popular leased vehicle? ›

Genesis hasn't traditionally had the highest residual values, and without them, it's hard to get a low lease payment. For many shoppers, the idea of leasing becomes less desirable if the monthly payment is high.

The lowest rental rates are usually found between October and April, particularly right after the December holiday season. Fewer people are interested in moving—the weather's bad, schools are in session, etc. So individuals renting between the months of December and March typically find the best rental bargains.

December: December is often one of the most expensive months to rent because it is a popular time for people to move. Many leases begin in December, so there is high demand for rentals during this month. As you can see, the fall months are typically some of the most expensive times of year to rent.

If you want the best monthly deals, focus on a lease of 36-48 months (but first decide if you're happy to hold the car for that long) If you want to drive your car for less than two years, consider another option like a short-term car subscription (see below).

What time of year do most apartment leases end? Most apartment leases end around the summer season, when people sign 12-month leases and new apartments become available on the market. This is a great time to find a new place to live, as there are often more options available and the competition for apartments is lower.