Automotive lease prices in the U.S. have dropped on several mid-size cars and SUVs this month, as OEMs are offering aggressive deals on a number of vehicles due to the sales slump that has resulted from the COVID-19 pandemic.
“We’re seeing manufacturers offer aggressive pricing on most mid-size cars and SUVs as the COVID-19 outbreak has made a significant impact on consumers and their desire to shop for cars and trucks,” said Scot Hall, Executive Vice President of Wantalease.com.
According to the online marketplace for new lease deals, the price of the Nissan Sentra is among the lowest priced vehicles at $139 per month, for the fifth consecutive month. The vehicle with the largest price drop in March was the Mercedes-Benz GLS 450 with a -17.85% decrease and an offer of $749 per month. The Honda Accord was offered at $249 per month (-8.72%), the Volkswagen Jetta for $239 per month (-7.62%), and the Volkswagen Passat at $289 per month (-6.39%).
“With a significant pullback in new-vehicle sales, automakers are looking for ways to attract consumers back into the consideration set for a new vehicle,” said Hall. “We fully expect these budget-friendly lease offers to stick around for the next few months.”
The Mercedes-Benz C300 was among the vehicles with the largest increased monthly payments thanks to a 5.43% increase — and offered at $459 per month. And the price of the Ford Expedition jumped 3.69% from February and is offered for $545.
