Lease Payment Prices Rise in September

Monthly lease payments were up in September, according to data from Wantalease.com.

The vehicles with the largest increased monthly payment were the Nissan Sentra, Toyota Corolla, and Nissan Altima, which were 22.91%, 16.36%, and 15.13%, respectively.

This put the monthly cost of a Nissan Sentra at $149 per month, the Toyota Corolla at $229, and the Nissan Altima at $239.

The reason for these price increases, according to Scot Hall, executive vice president of Wantalease.com, are likely tied to a change in priority from manufacturers away from leases and toward financing.

“More than likely, prices continue to increase over the last few months as OEMs look to offer stronger incentives  and overall deals for financing loans as opposed to leases,” said Hall. “While this may not be the case for all leases, it’s also a reason why our sister marketplace — Swapalease.com — continues to see more activity as people search alternate channels for the right lease deal outside of the dealer showroom.”

Other vehicles such as the Chevrolet Impala, Ford Fusion, and Ford Focus also saw price increases during the month.

September wasn’t all price increases, however. The Ram 1500 Crew Cab saw a 35% price reduction in September, and two luxury models, the Cadillac CTS 2.0 and BMW X5 50i, also saw price declines.