Sure as summer brings thunderstorms, it also brings car lease deals to spike traffic on dealer lots. This year, of course, is no exception to that rule.
But the deals may be even sweeter sweeter than usual this summer. "This year's deals are eye-poppingly good, much better than most years, maybe the best we have ever seen," said Jack Nerad, executive editorial director and executive market analyst for Kelley Blue Book's KBB.com.
He added that this summer has brought deals on cars people actually would want, equipped in ways that people would also want.
Why? Car sales have been slumping. In May, sales amounted to 1.54 million cars, down 6% from the year before. GM and Toyota sales slumped worse than others but, throughout the industry, the grumble is that auto makers are building too many cars that are flooding dealer lots. Enter the summer sales season, and this year, said Nerad, because sales have been "tepid," the "manufacturers are putting out attractive offers."
An advantage of a lease is that, generally, a driver can get into a new car with less money down and with dramatically lower monthly payments than are involved in a purchase. Of course in a purchase, the driver owns the car outright at the end of the four or five year typical loan term. With a lease you turn in the car and the key and that's that.
Even so, maybe one in four new cars now moves off the dealer lot as a lease, and in luxury car categories, the lease share is well over half. That's why what Nerad is saying will cheer those looking to get new wheels this summer - and note that many good deals expire around July 4. So this is the time to act.
Nerad added this prod to action: "You can inexpensively get cool cars this year."
Here are Kelley Blue Book's top six lease deals: