Automakers are dealing with the impact of the coronavirus pandemic on multiple fronts, including the increasing decline in sales.
However, they’ve moved quickly, offering improved financing offers for potential buyers and now we’re seeing some maker’s offering impressive lease offers for new vehicles, according to Wantalease.com, which tracks leasing deals online.
The Nissan Sentra is currently priced the lowest of all vehicles, coming in at just $139 per month for the fifth consecutive month.
Some vehicle lease offers have basically remained unchanged in March, dealers are offering aggressive lease pricing on midsize cars and SUVs. Supporting that is that the vehicle that saw the largest price drop moving in the month of March was the Mercedes-Benz GLS 450. It can be had for $749 a month, which is a 17.9% decrease.
Other big drops include the Honda Accord at $249 a month, down 8.72%, Volkswagen Jetta for $239 per month, a 7.62% drop, and the Volkswagen Passat at $289 per month for a 6.39%.
“We’re seeing manufacturers offer aggressive pricing on most mid-size cars and SUVs as the COVID-19 outbreak has made a significant impact on consumers and their desire to shop for cars and trucks,” said Scot Hall, executive vice president of Wantalease.com
“With a significant pullback in new-vehicle sales, automakers are looking for ways to attract consumers back into the consideration set for a new vehicle. We fully expect these budget-friendly lease offers to stick around for the next few months.”
Not every vehicle is on the decline. Some popular and luxury vehicles saw increases in early March.
The vehicles with the largest increased monthly payment are the Mercedes-Benz C300 with a 5.43% increase, and the Ford Expedition with a 3.69% increase in price from February. The C300 is currently offered at $459 per month, while the Expedition is offered for $545.