My brother didn’t get a new car for Christmas. He didn’t ask for one, but it would have been pretty cool if someone had given him a car yesterday with a big red bow on top.
Since it didn’t happen, it’s probably time he makes the investment on his own. My brother is newly employed as a teacher, so he can’t afford to finance a new $30,000-plus vehicle. What he can afford is a cheap lease, which he took the opportunity to ask me about at our family gathering yesterday.
My brother’s current car is a 1997 Honda CR-V that has provided almost 240,000 miles of service. It was a fine car for a college student, but it’s not a fine car for a newly employed teacher.
So here’s the challenge: What new car can be leased on a budget of around $199 per month?
It’s possible. Keep reading for a few of the cars that are a steal for just a couple of Franklins per month.
The 2015 version is advertised for only $1,969 due at signing and $189 per month. Expect a 36,000-mile allowance and 15 cents per mile for additional miles.
Don’t be silly, you can’t score a Z28 for $200, but a base V6 can be leased for under $220 per month.
A local ad promoted one for $2,109 due at signing, which isn’t bad for an SUV of this size. A $199-a-month lease includes 30,000 miles over 36 months, with additional miles priced at 25 cents each.
Can you believe $189 per month for the big Ford wagon? The catch is almost $4,000 due at signing, but you’ll enjoy one of the only living rooms on wheels you can buy.
The best bet for my brother might be selling his ’97 for a couple grand and then using that to sign onto a 36-month/36,000-mile lease on a 2015 model for about $210 per month.
Of course, not all these cars are available in all locations at all times, but they are a good representation of what’s out there right now and of what can usually be found if you look around.
If you didn’t get the car you wanted for Christmas, perhaps now is a good time to go find a lease that’ll have you driving a brand new car without the massive hit to the bank account.
What car would you lease on a budget of $199 per month?