If you’re in the market for a new car and are interested in leasing an SUV, you have plenty of options at your disposal. At any given moment, there are great lease deals available for some of today’s most popular SUVs. Still, just because an advertised special looks promising doesn’t mean that it’s right for you. To find the best SUV lease deals, it’s necessary to do plenty of research and comparison shopping. Just as with buying a car, it’s easy to get blindsided by hidden fees and other surprises, so it’s crucial to take your time and to consider as many options as you can.
Choose an SUV
The first step is to zero in on a specific model of SUV. At the very least, narrow it down to three or fewer. This will make it much easier to compare and contrast SUV lease deals, as they vary considerably by make and model. Visit local dealerships to test drive the top options on your list. Whether you end up preferring a Honda CR-V, a Ford Escape, a Toyota Highlander or another popular SUV, you will now be able to request quotes for leasing that exact vehicle. Comparing offers will be much easier.
Understand Your Lease Options
- Mileage Allotment – One of the biggest mistakes that prospective lessees make is not learning the basics about vehicle leases. Most people know that there’s a mileage allotment, for example, but many fail to think about how many miles they typically drive in a year and assume that the default will work for them. Most SUV leases include up to 12,000 miles per year. Unless you specify otherwise, most quotes that you receive will assume that you want a 12,000-mile-a-year lease. If you need more miles than that, make sure to say so when requesting your lease.
- Lease Length – Standard SUV leases run for three years, or 36 months. However, don’t assume that any SUV lease deals that you consider include these terms. Many times, to make the offer look more affordable, dealerships tack on a few extra years. Your monthly lease payments will be smaller, but you will be stuck in the lease long after its full warranty expires. For the final two years, you’ll be responsible for paying for most repairs. That’s fine if you’re buying the car, but since you’ll be trading it back, it’s a pointless expense to incur.
- Drive-Off Fee – Many leases have fees that must be paid at signing. In fact, to be eligible for certain SUV lease deals, you must agree to pay a fairly hefty “drive-off fee,” as down payments for leases are often known. Indeed, this is often where consumers are blindsided, as they come in expecting a certain price and must then pay a bunch of money up front to get it. Some of the best SUV lease deals require no down payment at all. Anything up to $1,000 is pretty reasonable, but don’t agree to anything higher than that.
Request quotes for the SUV of your choice from several dealerships’ internet departments. Make sure to specify the lease length and mileage allotment. Ask for the sale price too, so that you can get a feel for which places tend to be the most affordable. If possible, get the three-year residual value for the SUV as well, as you can use that information in online lease calculators for more accurate results.
Finding the best SUV lease deals can feel pretty overwhelming. However, the hard work is well worth it because it means that you will be able to drive a brand-new SUV for several years without spending a fortune.
Current Best SUV Lease Deals
Examples of current SUV lease deals include:
- 2017 GMC Acadia – $299/month; 36-month, 30,000-mile lease; $2,269 due
- 2016 Kia Soul – $159/month; 36-month, 36,000-mile lease; $2,688 due
- 2017 GMC Terrain – $199/month; 24-month, 20,000-mile lease; $3,509 due