These Are the Cheapest New Cars to Lease in July

Leasing a brand-new car for around $300 per month is suddenly looking more realistic across the U.S., thanks to a fresh wave of sub-$200 monthly deals that keep total costs manageable even after factoring in hefty upfront payments. With long-term loans locking buyers into seven-year contracts, short-term leases are becoming the smarter play for drivers who want new wheels without the debt trap. Most of the hottest lease bargains are concentrated in the compact and subcompact segments, though a handful of SUVs and trucks sneak in at the bottom of the list. All prices and terms are current as of July 2, sourced from CarsDirect’s latest roundup. Regional restrictions and brand-loyalty discounts apply, so shoppers should verify exact terms in their area before signing.

The cheapest pickup truck to lease is the Toyota Tacoma SR5, offered in the Southeastern U.S. for $279 per month over 36 months with $4,278 due at signing and a 10,000-mile annual cap. Even after spreading the down payment across the lease term, the effective monthly cost lands at $398—still reasonable for a brand-new midsize truck.

For compact-SUV shoppers, the Buick Encore GX with front-wheel drive is the only SUV on this list, available nationally to returning Buick lessees at $199 per month for 24 months with $4,649 due upfront and a 10,000-mile annual limit. The shorter lease term and large down payment push the effective cost to $393 per month, nearly matching the Tacoma’s total.

Two subcompact sedans sit just above the $300 mark. The Toyota Corolla LE sedan is offered in the Southeastern U.S. for $199 per month over 36 months with $4,198 due at signing and a 10,000-mile cap, translating to a $315 monthly average. The Corolla LE starts at $24,420, making it a solid value despite the modest lease discount.

Kia’s K4 LXS sedan is another standout, priced at $209 per month for 36 months with $3,499 due at signing and a 10,000-mile limit. The effective monthly cost drops to $306, but availability is limited to California, Colorado, Delaware, Florida, Hawaii, Illinois, Indiana, Maine, Michigan, Minnesota, North Dakota, Nebraska, Ohio, Pennsylvania, Utah, Vermont, Wisconsin, and Wyoming.

The midsize-sedan segment is represented by the Nissan Altima SV with front-wheel drive, advertised in the New York area at $199 per month for 36 months with $3,869 due at signing and a 10,000-mile cap. After accounting for the down payment, the effective cost is $298 per month—one of the lowest totals on this list.

Finally, the outright cheapest lease this month is the Toyota Corolla Hatchback SE, listed in the New York area for $179 per month over 36 months with $3,999 due at signing and a 10,000-mile limit. Spread across the lease term, that’s just $290 per month. The SE adds alloy wheels, sport seats, and paddle shifters for the CVT, plus eye-catching colors like Inferno Orange and Blue Crush Metallic at no extra charge.