Best Luxury Suv Lease Deals 2022 (2024)

FAQs

What month are the best lease deals? ›

Most new models are introduced between July and October, so this is the time that you should try to lease to maximize your savings. 2) Holidays: Lease shoppers can find special dealership incentives during long holiday weekends, including President's Day, Memorial Day, July 4, Labor Day, and Thanksgiving.

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.

When researching the different aspects of a lease deal, you'll come across the “one percent rule.” This method is intended to be used for a 36 month lease and 12,000 mileage allowance and divides the monthly payment you will be making for the lease (without taxes) by the MSRP. A good lease deal will be 1% or lower.

It will be worth $30,000 at the end of the lease, so your lease cost, before interest, taxes, and fees, will be $15,000 divided into equal monthly payments. If you put $2,000 down, the amount you make payments on drops to $13,000.

Best Resale Value luxury crossover SUV - Lexus UX 200 (66.4% 5-yr resale value). Best Resale Value three-row SUV - Toyota Land Cruiser (65.1% 5-yr resale value) Best Resale Value Luxury three-row SUV - Lexus LX 570 (63% 5-yr resale value)

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.

In general, you'll have a lower monthly payment if you lease, but you'll pay less in the long run if you finance your new car—and you'll save even more if you pay for the whole thing in cash. But the decision isn't all about cost.

Over the long term, the cheapest way to drive is to buy a car and keep it until it's uneconomical to repair. Lease contracts specify a limited number of miles. If you go over that limit, you'll have to pay an excess mileage penalty. That can range from 10 cents to as much as 50 cents for every additional mile.

All cars depreciate, but luxury cars often depreciate faster than economy cars, especially in the first few years. When you lease, you're only paying for this depreciation, not the entire value of the car. This is why you can often lease a luxury car for less than the cost to buy it.

What percentage of Lexus is leased? ›

Lexus (55% Leased)

For the past few years, the factories cut incentives on leasing during the worst of the pandemic, and then during a shortage of computer chips used in auto manufacturing. With low supply and high demand, there just wasn't much need to offer discounts on leasing, or loans for that matter.

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.

Shortlist your leasing options. Decide if you're happy to pay a little more per month and trade your car in two years. 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)

The worst months to rent a house are June, July and September, as these are typically the most expensive months.

In 2024, leasing is once again growing in popularity as drivers look to avoid the high interest rates that come with buying. There are also reasons why the dealers and car manufacturers themselves are fans of leasing. Leasing keeps customers coming back to the dealership, more so than selling does.