5 Cheapest Cars to Lease in 2024

Looking to lease a new car without breaking the bank? The 2024 Hyundai Elantra leads the pack at just $161 bi-weekly, while Toyota's Corolla impresses at $81 weekly. Honda's Civic starts at a reasonable $212 monthly, and Nissan's Sentra keeps things affordable at $259 per month. The VW Jetta rounds out the top five at $366 monthly – still decent for German engineering. You'll get solid warranties, decent mileage allowances, and modern features across the board. Just watch those down payments and extra fees – they can sneak up on you. There's way more to these budget-friendly rides than meets the eye.

Key Takeaways

• 2024 Hyundai Elantra offers the most competitive lease deal at $160.78 bi-weekly, with additional 1% loyalty discount for existing customers.
• Toyota Corolla provides affordable weekly payments of $81 ($356 monthly) with no down payment required.
• Honda Civic starts at $212 monthly for 36 months, offering strong value retention of 61% after three years.
• Nissan Sentra's basic trim starts at $259 monthly with a signing cost of $2,509 for 36 months.
• Volkswagen Jetta's upcoming 2025 SE model offers reasonable monthly payments of $284 for budget-conscious consumers.

2024 Hyundai Elantra

The 2024 Hyundai Elantra stands out as one of the most budget-friendly lease options, with bi-weekly payments starting at $160.78 for a 60-month term. You're getting a solid deal here, especially with all the essential fees bundled in – freight, PDI, documentation, wheel locks, you name it. Let's be real: that's a pretty sweet package for under $25K.

Want to know what's really cool? You'll get 16,000 kilometers per year to play with. Go over that and you're looking at 12 cents per extra kilometer – not too shabby. If you're thinking about financing instead, you can stretch those payments to 96 months at 5.79%. That's $148.57 bi-weekly, taxes included. Not bad at all. Current customers can enjoy a 1% loyalty reduction on lease rates when they qualify.

Here's the kicker – you're way under the national average lease payment of $264 monthly for a 36-month term. Plus, there's usually some cash incentives floating around – like that sweet $500 bonus on the Luxury Automatic. Sure, payments might vary depending on where you live, but honestly? You'd be hard-pressed to find a better deal in 2024.

2024 Honda Civic

Stepping up from the Elantra, Honda's 2024 Civic offers compelling lease deals starting at $212 per month for a 36-month term. For the performance-minded, the 2024 Si model starts at $463 monthly. Let's be real – that's a sweet deal for a car that's basically bulletproof. You'll find plenty of options between $270 and $308 monthly, depending on whether you're going for the basic LX or the sportier models.

Listen up, because this matters: You're looking at down payments around $2,500 for most deals. But here's the good part – you won't have to stress about the car's value tanking. The Civic holds its value like nobody's business, keeping about 61% after three years. Not too shabby.

Want the smartest play? Negotiate hard. Skip the fancy add-ons they'll try to push on you. Nobody needs that overpriced "protection package," trust me. You're getting a solid warranty anyway, and these things run forever. Plus, you can jump into a new one every three years – fresh tech, fresh features, fresh everything. Just watch those mileage limits. Going over 12,000 miles a year? That'll cost you. Choose wisely, my friend.

2024 Nissan Sentra

Budget-conscious shoppers will find the 2025 Nissan Sentra offering competitive lease deals starting at $259 monthly for 36 months. You'll need to fork over $2,509 at signing – not exactly pocket change, but hey, that's the game. The SV FWD trim comes nicely equipped with splash guards, floor mats, and trunk protection. Not bad for a daily driver. Unfortunately, no incentives exist for December 2024 purchases.

Let's talk options. You can snag the sportier SR trim for $296 monthly, or stick with the SV at $249 if you're pinching pennies. There's even a sweet $500 rebate floating around if you play your cards right. But watch those miles – they'll cap you at 12,000 per year. Go over that, and you're paying extra. No free lunch here, folks.

The effective lease cost lands at $329 before taxes and fees, which isn't exactly dirt cheap. But compared to loan payments? You're saving up to $245 monthly. That's real money in your pocket. Plus, maintenance packages are available if you don't want surprise repair bills. Just remember – these deals vary by location. Your mileage (and your deal) may vary.

2024 Volkswagen Jetta

Moving up a notch in price from the Sentra, Volkswagen's 2024 Jetta offers several attractive lease options worth your consideration. Let's be real – you're getting German engineering here, and that counts for something. The base Jetta S starts at $366 monthly for 36 months, which isn't too shabby considering what you're getting. You can explore these options with trained VW specialists who will guide you through the entire leasing process.

Want to step it up? The SE trim hits $393 monthly, while the fancy-pants SEL will run you $478. Not exactly couch cushion money, but still decent. Here's the kicker – if you can wait for the 2025 SE model, you'll score a sweet deal at $284 monthly. Now that's more like it!

You'll get 16,000 kilometers per year to play with, and they'll ding you 15 cents for every extra click on the odometer. Pretty standard stuff. The deals vary by region (because of course they do), and you'll need to fork over some cash at signing – we're talking first payment, security deposit, and maybe a down payment. Oh, and don't forget those pesky fees like HST and licensing. Nobody escapes those. Period.

2024 Toyota Corolla

While the Corolla has long been Toyota's bread-and-butter compact car, its 2024 lease options make it an even more compelling choice. You're looking at some seriously attractive numbers here – weekly payments as low as $81 (that's about $356 monthly) if you're cool with the base L model. With zero down payment required, this makes it particularly accessible for first-time lessees.

Want something fancier? The LE trim starts at $331 monthly, and honestly, that's where the sweet spot is. If you're feeling eco-friendly, there's a hybrid version starting at $368 monthly. Yeah, it's a bit more, but hey – gas savings! The Cross variants are also worth checking out, especially if you want that trendy SUV-ish look without breaking the bank.

Here's the deal-breaker though: you'll get a generous 120,000-kilometer allowance (that's roughly 12,000 miles annually). Go over that, and you're looking at seven cents per extra kilometer. Ouch. Watch those miles, people. Plus, they're throwing in some decent perks like A/C and destination charges. Just remember – taxes and insurance are on you. Classic Toyota move.

Frequently Asked Questions

How Does My Credit Score Affect the Advertised Lease Rates?

Like a report card that follows you everywhere, your credit score's a make-or-break deal for lease rates. Those shiny advertised numbers? They're for the straight-A students – folks with 720+ scores. If you're not in that club, you'll pay more. Way more. Your less-than-stellar score means higher monthly payments, bigger down payments, and maybe even shorter lease terms. Here's the truth: advertised rates are just a teaser. Your real rate depends on your financial GPA.

Can I Negotiate the Amount Due at Signing?

Yes, you can absolutely negotiate the amount due at signing – don't let anyone tell you otherwise! Your bargaining power depends on a few key factors: your credit score, current market conditions, and dealer incentives. Pro tip: Compare offers from multiple dealers. Sometimes they'll reduce the down payment if you're okay with higher monthly payments. Just remember: everything's negotiable in car leasing. Well, almost everything. Some fees are fixed, but that initial amount? Fair game.

What Happens if I Exceed the Annual Mileage Limit?

Let's be real – going over your mileage limit isn't exactly a walk in the park. You'll face some not-so-pleasant charges, typically between 10 to 25 cents per extra mile. Ouch! These fees can add up fast, and trust me, they're not optional. Plus, all that extra driving means more wear and tear on your ride. Your best bet? Track your miles religiously or consider upgrading to a higher-mileage lease from the start.

Are There Penalties for Terminating a Lease Contract Early?

Yes, you'll absolutely face penalties for bailing on your lease early – and they're not cheap! You're typically looking at paying the remaining lease balance plus a bunch of annoying fees. It's brutal. The leasing company might hit you with disposal fees, administrative charges, and even fees for excessive wear and tear. Your best bet? Try to stick it out or look into lease transfer options. Trust me, early termination is a wallet-crushing headache you'll want to avoid.

Do Lease Payments Include Maintenance and Warranty Coverage?

"A penny saved isn't always a penny earned" when it comes to lease payments. Here's the deal: you're typically on your own for maintenance costs – oil changes, tire rotations, the whole nine yards. But don't panic! Your lease payments usually do include warranty coverage for major mechanical issues. Just remember, it's like renting an apartment – you're responsible for the everyday stuff, but the big structural problems? That's covered under warranty.