Top 10 Cheapest Cars to Lease

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10. Kia Rio LX – $159/month, $1,999 due at signing

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While it might not appeal to everyone, leasing is a great way to get into a car for a lot less cash than buying. That said, here’s a list of 10 low-cost lease deals that are hard to ignore, since none of them crack the $200 a month price-point.

An automatic Kia Rio LX sedan costs $15,500 up front. While that’s a low, low price tag for an attractive looking subcompact, the real deal is with the lease offer. After putting down just $1,999, you can lease a Rio LX for just $159 a month. The LX model is the most stripped out Rio you can get, sporting 15″ wheels with hubcaps. There’s a few optional extras like the Eco driving mode and power windows.

The Rio is the ideal choice for those looking for a powerful subcompact, since the vehicle is powered by a 1.6L four-cylinder engine which makes 138-hp. The cars small size and peppy engine also make it pretty thrifty on fuel, with EPA ratings of 28 mpg in the city, 36 mpg on the highway and 31 mpg combined. Check out the Kia Rio specs and read our full review here.

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  • Shannon H

    Are you kidding me? I don’t like the Scion iQ but for THAT price… I can live with it.

  • expert

    #1 priority in a lease is not putting any money down, especially $2000 on shti boxes.

    • GP

      You’re obviously no expert, friend. When you
      sign the lease documents there is a set price you will pay over the life of the
      lease (the cost of depreciation). For example, assume the payments are $200 per
      month for a 36 month lease; the total price of the lease, excluding additional mileage
      charges, is $7200 ($200 x 36 months). However, if you decided to put $2000
      down, the monthly payment would be reduced by that amount ($7200 – $2000 = $5200/36 =
      $144.44 per month).

      Bottom line is, the $2000 you’re talking about will be out of your pocket no
      matter what; either with one payment (the down payment), or added to the monthly
      payment.

      Cheers,

      • Bo

        But if anything happens to the car before your lease term is up and you’ve put money down, typically you will lose that money. IMO, it makes more sense to pay the extra money over the course of the lease rather than potentially lose a few thousand dollars. Also, if someone has $2,000 to put down on a cheapo car, they could probably just buy a vehicle outright.

        • CD

          Exactly. I never put any money down on leases for that reason. Like Bo says you lose anything you put down if anything happens to the car. Also, I’d rather have an extra $2K to use to go on vacation.

        • veritas_1

          And absorb that worthless asset on your balance sheet?

          People like you are poor for a reason.

      • expert

        LOL!!! coming from a finance background, if the costs are the same you NEVER put money down – unless you’re a fool that is.

  • Bill

    This site claims it 2000 grand down. It’s actually 3000. Just thought I’d point that out.