Best New Car Lease Deals for May 2023
There are all kinds of reasons for needing a car over a shorter term, especially at a time when the auto industry is still experiencing supply-chain woes. Buying a car outright and then selling it in a couple of years involves tying up a bunch of capital and then taking a hit on depreciation. Instead, a 24-month lease provides the stop-gap filler you need to get around right now with reduced financial exposure.
This month, we have a host of two-year lease deals across the full spectrum, from family-friendly crossovers to luxury EVs. There’s something here to fill nearly every need or to try out a new type of vehicle or brand to see if it fits your lifestyle. Have you always wanted to drive a V-8 sports coupe? Or see whether EV ownership is worth the potential charging hassles?
Check our Leasing Guide
First, make sure you read our leasing guide. We’ve covered everything that could get glossed over in the showroom: advertising fees, money factors, residuals, legal implications, and all the other fine prints that could cost you thousands more than you’d expect. When comparing similar cars, be aware that a lower monthly price often demands more money up front. As with any national lease special, enter your ZIP code on an automaker’s website to check if these deals apply to your area. Prices do not include taxes or fees and may be higher or lower depending on your location. Research is always your friend.
$459 per month/$4879 at signing
24 months/20,000 miles
The three-row Cadillac XT6 provides a bit of Escalade glam on a much more maneuverable platform and at a more reasonable price. This special 24-month lease is for current Cadillac owners and the above figures apply specifically to the entry-level front-wheel-drive model.
$279 per month/$5179 at signing
24 months/20,000 miles
Chevy’s pulling the plug on the sixth-generation Camaro. If you’ve always wanted one of the bow-tie brand’s pony cars, then you may want to take advantage of this 24-month lease deal on a Camaro LT1. Yes, you read that right. That initial $5,179 check you need to write at signing isn’t for a four- or six-cylinder model but a 455-hp V-8 Camaro coupe. Chevrolet has confirmed a new Camaro is in the works, but the brand has shared no specific details about the next-gen car. It’s possible that the current Camaro may be the last one to offer a V-8 engine—or an internal-combustion engine.
$269 per month/$1949 at signing
24 months/20,000 miles
Chevrolet’s Equinox deal applies to current GM lessees looking for something new. And if you’re a GM employee or eligible family member, you can shave off a further $10 per month and $170 off the downstroke. The Equinox isn’t terribly exciting, but it is fuel-efficient, easy to drive, and a competent luggage hauler. This deal applies specifically to the well-equipped—but not loaded—Equinox LT with front-wheel drive.
$259 per month/$3499 at signing
24 months/20,000 miles
The Kia Sportage may not be a 10 Best winner, but it is an Editors’ Choice honoree. With a long list of standard features, plenty of space, and a comfortable ride, the Sportage hits the mark for many compact SUV shoppers. This deal is for the base front-drive Sportage LX (all-wheel drive adds $20 to the monthly bill). This meant having to put up with the model’s wheezy 187-hp four-cylinder engine. That said, the Sportage’s mediocrity engine wouldn’t stop us from taking advantage of the 24-month lease deal.
$379 per month/$3999 at signing
24 months/20,000 miles
Kia plans to bid farewell to the Stinger fastback after the 2024 model year. In other words, time’s not on the side of consumers waffling on whether or not to park a Stinger in their driveway. Kia may have made the decision a bit easier, though, with this 24-month lease deal on an entry-level rear-drive Stinger GT-Line. Sure, the 300-hp GT-Line may not have the allure of the 368-hp Stinger GT2, but the four-cylinder model is still plenty of fun to drive. Plan on spending an extra $30 per month if you want your Stinger GT-Line with all-wheel drive.
$649 per month/$5343 at signing
24 months/20,000 miles
The Mercedes-Benz EQB is the ideal crossover for those looking to dip their toe into EV ownership. With a boxy shape, it’s a practical family hauler. It’s even available with a third-row jump seat that is useless for adults but handy if you’re carpooling home part of the soccer team. This deal applies to the EQB250+, which offers an estimated driving range of 250 miles. That’s an adequate sum for most shoppers. Plus, if you discover that an EV is not ideally suited to your lifestyle, you’ll be glad to know you’re only committed to this electric SUV for just 24 months.
$369 per month/$3139 at signing
24 months/20,000 miles
The Nissan Murano is aging relatively gracefully, and while it’s not the most athletic crossover option out there, it’s still very comfortable. The lease here is for a base Murano S with all-wheel drive, which has a comprehensive list of standard features that includes a full complement of driver-assist items, including blind-spot monitoring and forward-collision warning.
Contributing Editor
Brendan McAleer is a freelance writer and photographer based in North Vancouver, BC, Canada. He grew up splitting his knuckles on British automobiles, came of age in the golden era of Japanese sport-compact performance, and began writing about cars and people in 2008. His particular interest is the intersection between humanity and machinery, whether it is the racing career of Walter Cronkite or Japanese animator Hayao Miyazaki’s half-century obsession with the Citroën 2CV. He has taught both of his young daughters how to shift a manual transmission and is grateful for the excuse they provide to be perpetually buying Hot Wheels.