Best Luxury Suv Lease Deals 2022 (2024)

FAQs

What is the best month for lease deals? ›

End of the year: October through December

They may be willing to negotiate with you for lower payments, lower upfront costs, and optional equipment. October - Everyone is excited to see the new models, so take advantage of this excitement and make a deal on a leftover model.

Midsize luxury SUVs are also a good choice for families with young children, as they offer plenty of cargo space and easier access to the rear seats than smaller SUVs. The best-selling midsize luxury SUV in the U.S. in 2022 was the Lexus RX, followed by the BMW X5 and the Mercedes-Benz GLE-Class.

Overall, only 8.5% of these high rollers paid cash. Around 31% leased and 60.4% took out a loan with an average payment of $2,201 and an average term of 56 months. For comparison, the general market in 2021 saw 9% of buyers paying cash, 20% leasing, and 70% taking out a loan.

Luxury cars retain their residual value. When determining payments, this “turn-in” value should keep the price lower. Another reason to lease a luxury car is there is less maintenance. Your leased vehicle is covered by the manufacturer's warranty and sometimes also includes a warranty from the dealer.

In 2024, whether to buy or lease a car depends on your individual needs and lifestyle. With manufacturers pushing more attractive lease deals, leasing may become a more appealing option for many. Leasing is a great way to avoid the worst effects of today's high interest rates.

By trying to negotiate the lease disposition fee before the start of your lease agreement instead of toward the end of it, both parties are clear on what will happen from the outset. If you decide to lease or buy another vehicle of the same brand at the end of your lease, the fee may be waived automatically.

Furthermore, as reported by US News and World Report, the Tesla Model Y claimed the title of the world's best-selling car in the first quarter of 2023, as the best-selling luxury brand in America. Notably, Tesla's vehicles redefine EV standards with impressive range, performance, and contemporary cabin design.

Lexus was named the Best Overall Luxury Brand and Most Trusted Luxury Brand by Kelley Blue Book Brand Image Awards for 2017 and 2016. Edmunds' Most Wanted Awards went to Lexus for the RX 350 (luxury compact SUV) and the ES 350 (luxury midsize car).

Wealthy people do all three depending on cash flow, interests rates (the cost of money) and the state of the economy. There are times when it's cheaper to use other people's money and times when it's cheaper to use your own and it varies.

Why are Genesis leases so expensive? ›

A major factor in a lease payment is a projected high residual value. Genesis hasn't traditionally had the highest residual values, and without them, it's hard to get a low lease payment.

If your goal is to have low monthly payments and drive a new vehicle every few years with little hassle, then leasing may be worth the additional cost. Be sure, however, that you can live with all the limitations on mileage, wear and tear, and the like.

Additionally, because the monthly payments are typically lower than loan payments, a lease can allow you to purchase a nicer car with a lower price tag. However, it's important to weigh the costs and benefits before signing a lease, as there will be restrictions on mileage and wear and tear.

Leasing a car can make more sense than an outright purchase under specific circumstances. The most significant factor is your average annual vehicle miles. If you put less than 15,000 miles per year on your car, leasing might be a good option. Mileage is a crucial element in determining your car's resale value.

Mercedes-Benz (67% Leased)

Over one-fifth of new vehicles in the United States were leased in 2023, with the rest being sold outright. The percentage found in the third quarter of 2021 was even higher, with 26 percent of new vehicles in the U.S being leased that year.

The luxury car market accounts for 6 percent of automobile sales in the United States, resulting in a small but highly lucrative segment. Companies looking to increase their luxury vehicle sales at auto shows need to understand the factors that drive luxury car buyers in this sector.

Arrange your own financing: You might be able to finance your luxury car with a personal loan. While you may be able to borrow more — some lenders offer up to $100,000 — expect higher rates.