The New Car That Costs $89 Per Month

2015 Volkswagen Jetta pic-2687671922287613144

It’s like we’re living in 1963.

I honestly don’t know when the average car payment in the United States was below $100, but I do know that today it sits at just over $480. If you buy or lease a new car in this country, odds are pretty good that you’ll be somewhere in the $200-$500 per month range. The lower end of that range is reserved for low-payment leases and bottom-of-the-barrel entry-level cars.

So when one of the world’s largest automakers promotes an $89 lease, or even lower in some areas, people will pay attention.

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What Car Would You Lease for $199 Per Month?

1997 Honda CR-V

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?

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