Sunday, July 26, 2009

$99 Lease Deals

With the bad economy, car manufacturers and dealers are looking for creative ways to move cars off their lots, including putting together great lease deals. The interesting thing about some of these lease deals is that the payments are set to be low because the car manufacturers are counting on the residual value of these popular cars to stay high. As long as they can get a high resale value on these cars at the end of the lease terms, they can afford to set the monthly payments low. Only time will tell, in 3 or 4 or 5 years, whether these cars will hold its value to justify the low lease payments for the car manufacturers.

The PriceHub team did a quick survey of the current lease landscape, and we've compiled our top 5 lease deals for this month:

1. 2009 Volkswagen Jetta California Edition. $189/month - 36 month lease - 10k miles/year. $0 total drive off. $0 security deposit.

2. 2010 Mazda3. $229/month - 42 month lease - 12k miles/year. $0 total drive off. $0 security deposit.

3. 2009 Honda Civic LX. $99/month - 24 month lease - 12k miles/year. $2399 total drive off. $0 security deposit.

4. 2009 Honda Accord LX. $159/month - 36 month lease - 12k miles/year. $2399 total drive off. $0 security deposit.

5. 2010 Honda Insight. $229/month - 36 month lease - 12k miles/year. $2799 total drive off. $0 security deposit.

It's no surprise that Honda's got some great lease deals since Hondas tend to hold its value well. What's surprising on this list is the Volkswagen Jetta at $0 down and only $189/month. What that tells us is that Volkswagen expects its Jetta to depreciate by only $6800 after 3 years. Will the new Jetta hold up and retain its value? Only time will tell...

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