$100 or less Monthly Car Payment
If you’re shopping with a tight budget, low credit score, or for your commuter car, it makes a lot of sense to look for a lease deal with monthly payments under $100. It simply may not be possible to purchase anything decent with only $100 available for car payment, but if you look around for a lease deal you may be able to find less than $100 a month leasing on an entry level vehicle. The lease terms and interest rate may vary, and so will your sales tax depending on the vehicle price, but it’s fully possible for you to find a brand new car that fits your needs, and that you love to drive and show off while staying completely within your monthly budget.
Why is it hard to find a $100 lease deal common?
When you enter a lease, the lease terms are essentially dictating that you will only pay for the depreciation of the vehicle over time rather than the full cost being factored into the car payment. So if you have a lease term of 36 monthly payments (3 years), you need to find vehicle that: will depreciate less than $3,600 hundred over the 36 months, has a low interest rate on the lease deal, and has very low fees in the lease terms so that your payments average out to less than $100 a month.
How to find a $100 a month leasing
Your best bet for finding a vehicle with low monthly payments is to find an entry level vehicle which will depreciate slowly. Because your lease terms are to only pay the depreciation, if the vehicle depreciates less than $3,600 over your 36 monthly payment period then you are closer to the magical $100 number you need in monthly leasing. Some vehicles that we have found that hold their value like this include the the Hyundai accent and the Honda fit.
Lease Deal on the Hyundai Accent
The Hyundai Accent is a front wheel drive entry level sedan which has the option for manual transmission (more money saved!). The interior has ample sized seats, the tech features are top notch, and the onboard entertainment system is fully modern. As the older models of this vehicle begin to crowd the lots of dealers looking to stock fresh inventory, you can likely find a great lease deal for the Hyundai Accent – and even benefits like no credit score check or the dealership covering your sales tax
Lease deal on a Honda Fit
The Honda Fit is a very highly rated entry level vehicle. While it comes in a very small form factor, the interior feels roomy and spacious with a large cargo area. The fit is typically front wheel drive, and also comes with a manual transmission option. It is a bit loud on the highway, but sometimes concessions have to be made for a lower car payment. The Honda Fit, as a result of its badge, isn’t likely to depreciate quickly and will keep your monthly payments low. The low total vehicle price and fuel economy (especially with manual transmission) can ensure that both your sales tax and monthly payments for operation stay low.
Best Lease terms on Other Vehicles
As shown by our examples and introduction, to keep your average monthly payments under $100 you will need to make some concessions and purchase an entry level car whose total price keeps your sales tax figure down. This overlaps heavily with the segment in front wheel drive entry level manual transmission vehicles – learning how to drive stick could save you thousands on the vehicle, and on gas and maintenance. If you have a good credit score, you should be able to find a low interest rate on your lease terms, and if you can find a vehicle which the dealer is looking to move off the lot you can potentially get a great lease deal. Shop around, find something that can meet the needs of you and your family, while also hovering around the $100 monthly payments budget. Have a look at the Hyundai Accent and Honda Fit to give yourself a good idea of what you should benchmark other entry level vehicles against: While you may have to give up some luxuries for the lower car payment, you should be able to find a vehicle that stands out in some quality level like interior space or the entertainment system.
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