If you’re looking to buy a new car, you still have time to snag some of the best year-end car lease deals and incentives on some brand-new wheels.
Since all the car companies want to close out the year with as many sales and leases as possible, they’re rolling out the best year-end car lease deals and incentives they can to secure those sales numbers. Dealers also need to clear their lots of 2010 models to make room for the 2011s, so they’re more likely to be willing to make a deal.
Shorter leases, higher residual values, and lower monthly payments are attracting more and more consumers to leasing. This is especially prevalent for luxury car makes. Mercedes-Benz says 59 percent of new car shoppers chose to lease their new ‘Benz, while BMW says their figure is 57 percent.
According to U.S. News & World Report Auto Rankings, some of the best car lease deals for December 2010 are those from Lexus. Long known for their December to Remember sales event, which focuses on leasing, Lexus is offering a 36-month lease on the 2011 Lexus IS 250 for $319 a month (with $3,499 due at signing). There’s also a 60-month 1.9 percent APR financing. The 2011 Lexus ES 350 is available for lease for $375 a month for 36 months with $3,499 due at signing (or 1.9 percent APR financing for up to 60 months). Equally attractive leasing deals are available for the 2011 Lexus GS 350, RX 350, GX 460, and the 2010 HS Hybrid 250.
Don’t want a luxury car but still want to lease? Check out the 2011 Chevrolet Cruze, available for lease by qualified customers for $159 per month for 39 months with $1,899 due at signing. The 2011 Malibu LS is available for $199 per month on a 39-month lease, with $1,999 due at signing.
Just remember that if you do lease, opt for the shortest lease period possible close to 36 months. That way, your new leased vehicle will still be under the factory’s warranty period. And know the advantages and disadvantages of leasing versus buying. When you buy a vehicle, you own it at the end of the finance term, whereas when you lease, the vehicle has to be turned back in. And watch out for excessive mileage, which can cost you plenty.
Don’t miss out on some of the best year-end car lease deals and incentives available. But come on down to the dealership, since time runs out on these deals as of January 3, 2011.
See all new year-end car deals. Be sure to also see if the vehicles you’re considering, especially if it’s a hybrid, electric, or alternative fuel-powered, can qualify for a federal or state tax credit, deduction, or rebate. Here’s more info on new car tax credit, hybrid car tax credit, and electric car tax credit.