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Leasing a car can be a great option for those who want to drive a new vehicle without the long-term commitment of buying. But when is the best time to lease a car in 2023? Our team at Car Leases™ has done the research and gathered all the information you need to make an informed decision. In this article, we’ll discuss the best month to lease a car in 2023, how to determine the best time for you, and tips for maximizing savings. So buckle up and let’s dive in!
Table of Contents
- Quick Answer
- Quick Tips and Facts
- When is the Best Time to Lease a Car?
- How to Determine the Best Time for You to Lease a Car
- Maximizing Savings When Leasing a Car Year Round
- Alternative to Car Leasing
- Recommended Links
- Reference Links
The best month to lease a car in 2023 is October. Dealerships are more willing to negotiate for lower payments and upfront costs during this time. However, it’s important to consider your individual needs and preferences when determining the best time for you to lease a car.
Quick Tips and Facts
- Leased cars made up less than 20% of car sales in 2022, but it is anticipated to rise to over 20% in 2023[^1^].
- Used car prices are expected to rise when off-lease cars go into circulation at dealerships, potentially increasing the residual value of leases[^1^].
- Holidays like Memorial Day weekend and the 4th of July are popular for car sales and lease promotions[^1^].
- Tax season, specifically from early March to mid-May, can be a good time to find competitive lease deals[^1^].
- The end of the month or quarter is another opportunity for negotiation as dealerships strive to meet sales quotas[^1^].
- New model releases in late summer or early fall can lead to incentives for leasing previous year’s models[^1^].
Leasing a car can offer several advantages, including lower monthly payments, the ability to drive a new vehicle every few years, and avoiding the hassle of selling or trading in a car. However, to get the best deals and savings, it’s important to time your lease correctly. Factors such as seasonal promotions, new model releases, and dealership sales quotas can all impact the best time to lease a car.
When is the Best Time to Lease a Car?
While October is generally considered the best month to lease a car in 2023, it’s important to consider your personal circumstances and preferences. Here are some factors to keep in mind when determining the best time for you:
- Budget: Assess your budget and determine how much you can comfortably afford for monthly lease payments.
- Seasonal Factors: Consider the time of year and any seasonal promotions or incentives offered by dealerships.
- New Model Releases: Keep an eye on new model releases, as dealerships may offer incentives for leasing previous year’s models.
- Personal Needs: Consider your specific needs, such as the size of the vehicle, features, and any special requirements.
- Negotiation Skills: If you’re comfortable negotiating, the end of the month or quarter can be a good time to lease a car as dealerships strive to meet sales quotas.
How to Determine the Best Time for You to Lease a Car
To determine the best time for you to lease a car, consider the factors mentioned above and ask yourself the following questions:
- What is your budget for monthly lease payments?
- Are there any specific features or requirements you need in a vehicle?
- Do you prefer to drive the latest model or are you open to leasing previous year’s models?
- Are there any seasonal promotions or incentives that align with your needs?
- Are you comfortable negotiating with dealerships?
By answering these questions, you can narrow down the best time for you to lease a car and make an informed decision.
Maximizing Savings When Leasing a Car Year Round
Regardless of the month, there are several tips you can follow to maximize savings when leasing a car year round:
- Shop Around: Compare lease offers from different dealerships to ensure you’re getting the best deal.
- Negotiate on Price: Don’t be afraid to negotiate the price of the lease to get a better deal.
- Avoid Extra Fees: Be mindful of any additional fees, such as acquisition fees or excess mileage charges.
- Understand Lease Terms: Familiarize yourself with the lease terms, including mileage limits and any potential penalties.
- Consider Lease-End Costs: Understand the cost of buying the car at the end of the lease if you’re considering that option.
By following these tips, you can save money and get the most out of your car lease.
Alternative to Car Leasing
If you’re looking for a hassle-free alternative to car leasing, consider a car subscription service like FINN. With FINN, you can enjoy the benefits of driving a new car without the long-term commitment. Their all-inclusive pricing includes insurance, maintenance, and delivery, making it a convenient option for those who want a hassle-free driving experience. Plus, by pre-qualifying for a car subscription, you can receive a $100 voucher[^1^].
Is it a good time to lease a car in 2023?
Yes, 2023 is expected to be a good time to lease a car, with leased cars making up over 20% of car sales[^1^].
What month has the best car lease deals?
October is generally considered the best month to lease a car, as dealerships are more willing to negotiate for lower payments and upfront costs[^1^].
Is the end of the year the best time to lease a car?
Yes, the end of the year, specifically October through December, is a good time to lease a car as dealerships may be more willing to negotiate for lower payments and upfront costs[^1^].
Will leasing rally in 2023?
Yes, leasing is expected to increase in 2023, with leased cars making up over 20% of car sales[^1^].
When it comes to leasing a car in 2023, timing is everything. While October is generally considered the best month to lease a car, it’s important to consider your individual needs and preferences. By assessing your budget, considering seasonal factors, and understanding the best time for negotiation, you can make an informed decision and get the best deals and savings. And if you’re looking for a hassle-free alternative, consider a car subscription service like FINN. Happy leasing!
- Who is Best for Car Leasing? 2023
- Latest Car Lease Deals
- Car Lease Basics
- Leasing vs Buying
- Best Lease Terms
[^1^]: Source: FINN – The Best Time to Lease a Car in 2023