Home » Car Lease » The Cheapest Car To Lease With No Money Down

The Cheapest Car To Lease With No Money Down

Contrasting car loans, you can obtain most car leases with no money down or no down payment. This is often on top of lower sales tax charges and low monthly payments. For that reason, leasing a brand new car can be more affordable than purchasing.

Whether you are making a down payment or getting the cheapest car lease deal no down payment, may depend on your credit score. Car lease shoppers usually have a monthly instalment payment in mind. This is, however, not an ideal way to negotiate a lease since dealers will quickly want to meet your payment objective by asking for a down payment.

You have learned that renting is an excellent method to get into a new auto carrying lower monthly payments than you would have to pay if purchasing directly. Normally, you’ll encounter cheap auto lease deals with no money down advertisements.

Are these deals real? Should you be pursuing a zero down lease deal? You can read the $99 car lease with no money down the article for more insights on renting the cheapest autos in the market without a down payment.

Although zero-down lease deals are available, that does not mean you visit the dealer with empty pockets expecting to drive away a new vehicle. You will still be paying fees like your first-month instalment and sales tax. Consider offers with fewer instalment periods like a 6-month car lease with no deposit to save money.

To help you comprehend the concept of putting together charter deals with no money down, we’ll begin with a reminder of how renting works.

How No Money Down Lease Programs Work

When you lease a car, on the other hand, you just pay for the depreciation during the contract term, including some fees and interest. This is often called the “money factor” in the world of leasing.

Experts use the expected depreciation of the car you are leasing to evaluate its worth at the lease expiration. From that evaluation, the experts come up with a residual value.

To come up with a monthly payment, just take the cap cost and subtract the residual. Then, divide the resulting number by the total months in your lease contract.

Now add in the interest or money factor to get the monthly payment. The cap cost or capitalised cost refers to the negotiated price of the vehicle on lease. This method should help you determine cheap monthly car payments if you’re in the market for a new model.

Obviously, there are still going to be a few changes that will add some dollars to the monthly payments. In most states, for example, you only pay sales tax on the lease monthly instalments, down payments, as well as fees.

Even as these are added costs on leasing the car, they are a huge benefit over purchasing a vehicle, where you will be paying for sales tax on the comprehensive buying price.

No Down Payment VS Money Factor

Most of the car leases, including those marketed with a down payment are often available with no money down. However, qualifying for the cheapest car to lease with no money down deal might depend on credit requirements.

This is one of the major pros of renting versus purchasing with a loan. With loans, they almost always involve down payments, at times up to 20%, or higher if you have bad credit. Leases often don’t come with such requirements.

Nonetheless, monthly lease instalments will be higher without a down payment because you are not pre-paying some obligations of the lease. Generally, your charter payment will decrease by around $40 to $50 for each $1,000 you make as a down payment. Therefore, the tradeoff is higher in monthly instalments versus down payment cash.

While most leases carry a structure that makes down payments optional, car manufacturers have special lease deal offers in monthly promos with a down payment to access the deal.

You could still get that lease without paying upfront, but the real deal might not be as great since some lease parameters often change. For the most part, consumers are unaware of the changes unless they used a tool to do comparisons.

For instance, some of the best luxury car lease deals on special promotional leases come with a very low money factor. Furthermore, they need a down payment, a cap cost reduction in this case.

However, by eliminating the cap cost reduction you pay in advance, in cash, getting a similar low money factor is not obvious. Because dealers do not always reveal the money factor, it is very easy for you to skip on the hidden change unless you utilised a free online comparison tool or evaluator.

No Down Payment Lease Deals From Car Companies

Some car manufacturers like Acura and Honda usually offer promotional lease deals with a down payment and with a $0 down. Whilst nothing down offer comes with higher monthly instalments, it is still the same great deal.

Nothing changes in the lease parameters. If you are looking for the cheapest car to lease with $0 down, the two auto manufacturers are a great place to start.

A good lease deal is determined by:

  • A low money factor
  • Discounted lease price
  • A high lease-end residual

Whether or not you are making a down payment, none of these factors should change. It means the value of the deal remains the same. However, being offered a special lease deal without money down does not mean it is automatically a good deal.

The rule of thumb is to assess any car lease deal in the market irrespective of how great it appears at first glance. A zero money down offer does not make a great lease deal. Be sure you are not paying more than other consumers are for that car.

There are plenty of free lease deal calculators online. Use one of them to establish whether the cheapest car lease deal no down payment delivers a good deal or not. In addition, you will want to use the tool to compare various leases as well as to negotiate superior deals from dealers.

Down Payment vs Amount Due At Lease Signing

It is very easy for people to use the phrase “amount due at lease signing” interchangeably with the down payment. What does each phrase mean? Just to remind you of how leases work:

When signing your lease papers:

  • You make money down deposit or not
  • Pay sales tax on your money-down deposit
  • You pay the first month’s instalment
  • You might pay a security deposit, refundable at the end of the lease
  • Pay any official charges as directed by the local government’s regulations

Therefore, money down deposit or down payment will just be part of the cumulative fees you will be paid at lease signing.

The sum of all advance cash for the car lease is known as cash due at lease inception or the amount due at signing. On the other hand, your down payment only makes up a portion of the total amount due at signing. This essential aspect is often confusing for most customers.

In other words, car lease deals near me with $0 down can be different from regular deals with $0 due at signing also known as sign and drive.

Types Of No Money Down Car Lease

These are the four basic types of $0-down leases:

  1. The first category of such deals will ask for no down payment or cap cost reduction cash. However, you still have to pay the first month’s instalment, as well as any other legal fees. As such, you need to have cash when signing your lease.
  2. Another form is where the dealer rolls over the first month’s instalment into your lease. This will make subsequent monthly payments slightly on the higher end. Nevertheless, you only pay official fees upon signing the lease.
  3. In another example of zero-down lease deals, such as the Toyota lease deals zero down, or those Acura, Honda, and others offer; you do not make a down payment besides the car manufacturer making your first-month instalment deposit. You, therefore, only pay the official fees.
  4. Nonetheless, another type of $0-down auto lease deal is where the dealer decides to roll over everything including the official fees into your lease. This means you pay absolutely nothing at lease signing. Totally, no cash requirement at lease inception is often called a sign and drive lease.

In summary, $0 down car lease deals near me come in various categories, which you must know before determining the exact one to pursue.

The 10 Cheapest Cars to Lease with No Money Down

cheapest car to lease with no money down

Most drivers prefer to lease a car rather than buy one. Leasing is not only convenient but also more affordable than car financing. With a lease, you only spend a short time, usually 36 months, with the car. You can return the vehicle at the end of the lease period and hire another car with better tech features and fuel economy.

Leasing a car often comes with conditionalities, including the requirement to put down a substantial amount of money. However, there are several instances when you can lease a vehicle with no money down.

The 2022 Hyundai Sonata is one of the cheapest cars to lease with no money down, starting at $289 for 36 months. The vehicle has a $25,175 MSRP, which makes it one of the most affordable cars in this category.

The 2021 Volkswagen Jetta Atlas is available for $489 per month for 36 months with zero money down. On the higher side, we have the 2022 Subaru BRZ, $1,379. While that may seem like a lot of money to ask for, this particular deal helps you avoid taking time to save for a substantial down payment.

Here is a summary of the cheapest cars to lease with no money down:

Serial No.Make and ModelMonthly PaymentDown PaymentMSRPTermLVR
12021 Kia Forte$1690$22,285360.90%
22022 Chevrolet Trailblazer$1990$25,390392.49%
32022 Honda HR-V LX$1990$22,645360.00%
42022 Hyundai Elantra$2490$22,590362.50%
52021 Volkswagen Jetta$2790$19,795390.90%
62022 Hyundai Sonata$2890$25,175360.00%
72022 Hyundai Kona$2890$21,150362.90%
82022 Buick Encore Preferred 1SB$2910$25,795360.00%
92022 Volkswagen Atlas$4890$35,989363.99%
102022 Subaru BRZ$1,3790$28,955362.49%

The 10 Cheapest Car Lease Deals

With ten cars appearing in the summary table above, it can be difficult for you to choose the right one, especially if the lease price is all you know about it. Essentially, it’s essential to have more information about the vehicles to choose the right one. That’s the purpose of the following reviews of the ten cheapest cars to lease with no money down. Keep reading to have a good idea of which car to purchase.

1. 2021 Kia Forte

The 2021 Kia Forte is a compact sedan that provides impressive fuel economy thanks to the inclusion of the 201 hp engine in its top trim. In the compact car category, Kia Forte ranks #3 for the vehicles released in 2021. You should consider buying a car to get the best quality and value.

In 2021, Kia Forte did not receive a significant upgrade, retaining the features defined in 2020. It’s available at a $22,285 MSRP, making it one of the most affordable in its class. The zero money down lease starts at $169 for 36 months.

Other features include a 15.3-cubic feet trunk space, 5-passenger seating capacity, 8-inch touchscreen infotainment system, and impressive reliability. It has five trims, including the FE, LXS, GT-Line, EX, and GT.

It contains many standard features
Spacious for cargo and passengers
A responsive infotainment system
Great fuel economy
Unimpressive ride quality
Unresponsive CVT

2. 2022 Chevrolet Trailblazer

The 2022 Chevrolet Trailblazer presents the second cheapest car lease with no money down. If falls in the subcompact SUV segment, ranking at #7, based on a US News report. The SUV packs substantive cargo and passenger space and provides impressive fuel economy.

However, its engine is not energetic enough, providing less power than most rivals. The base trim has a 137 hp engine compared to the highest trim, which is 155 hp. Even though seemingly powerful in the city, the Chevy provides lackluster performance on the highway.

Its interior features numerous hard plastics and unimpressive styling, making the Chevy fall short in internal quality. The redeeming point is the 7-inch touchscreen infotainment system with Android Auto, Apple CarPlay, a Wi-Fi hotspot, and a zero-down lease that starts at $199 per month for 39 months.

2022 Chevrolet Trailblazer
It has roomy seats
The infotainment system is intuitive
It features an ample cargo space
Poor ride quality
Slow acceleration

3. 2022 Honda HR-V

Available at a $22,645 MSRP and a $199 per month lease for 36 months and no money down, the 2022 Honda HR-V is one of the best subcompact SUVs to have. The vehicle ranks #10 in the subcompact SUV category, according to US News. It has a 1.8-liter, 141 hp, four-cylinder engine with CVT capability.

In both the city and highway, the Honda HR-V has an impressive fuel economy of 28mpg and 34 mpg, respectively, which is good enough for an SUV. Despite featuring some low-quality plastics, the vehicle’s interior has some good-quality materials that fit correctly and have an impressive finish.

It has a five-passenger capacity and can carry substantially large luggage of at least 24.3 cubic feet. A 5-inch infotainment display works with Apple CarPlay and Android Auto to help you stream straight from your mobile phone.

2022 Honda HR-V
Drives well
Great fuel economy
Lots of cargo room
Underwhelming engine power
Very few standard features

4. 2022 Hyundai Elantra

A #5 compact SUV, based on a US News report, the 2022 Hyundai Elantra packs everything you need from a vehicle in this category. Apart from its refined powertrain, the car features many standard safety and tech features such as navigation, remote keyless entry, and climate control.

Its lowest three trims have a 2.0-liter, 147 hp, four-cylinder engine, while the next highest trim has a 1.6-liter, 201 hp, four-cylinder turbocharged engine. For a bigger, more powerful engine, purchase the top trim with a 2.0-liter, 276 hp, four-cylinder, turbocharged engine.

The vehicle is easy to drive and feels comfortable inside with door-to-door elegance on the dashboard, albeit with many complex plastic parts. However, the 8-inch touchscreen in lower trims and a 10.2-inch touchscreen display in higher trims atones for everything.

2022 Hyundai Elantra
Many impressive standard safety and tech features
An intuitive infotainment system
Easy to drive
Impressive fuel economy
Affordable to buy and lease
The cabin has some hard plastics

5. 2021 Volkswagen Jetta

The 2021 Volkswagen Jetta is a compact car available for $19,795 MSRP or $279 per month for 39 months with zero money down. It is an excellent car to have if you’re looking for a large trunk, roomy rear seat, and excellent gas mileage.

The broad and deep trunk can carry up to five passengers and 14.4 cubic feet of cargo. Even though having some soft-touch materials, the vehicle’s interior still features some hard, cheap plastics. Its infotainment system has a 6.5-inch touchscreen in the lower trims and an 8-inch touchscreen in the higher trims.

The compact car comes with two engine types, the 1.4-liter 147 hp turbocharged engine with a torque of 184 pound-feet or 2.0-liter 228 hp turbocharged engine with 258 pound-feet of torque. If you’re looking for excellent fuel economy, purchase trim with the smaller engine.

2021 Volkswagen Jetta
Comfortable to drive
It has spacious seats
Intuitive infotainment system
Base engines deliver excellent fuel economy
It is only a few standard features
Interior quality is not so good

6. 2022 Hyundai Sonata

What the 2022 Hyundai Sonata lacks in driving quality it compensates through an outstanding interior. It has competitive pricing at $25,175 MSRP and $289 monthly lease payments for 36 months and no money down. Besides, leasing this vehicle helps you save an average of $3,206 off the MSRP.

It has one of the best-in-class cabins with upscale features, materials, and looks. The intuitive infotainment system with an 8-inch touchscreen and a six-speaker stereo keeps you entertained even as it insulates you from outside noise.

Its 16 cubic feet trunk can carry substantial cargo and its cabin up to five passengers. Even in the second row, taller passengers can find plenty of legroom to maintain high comfort levels. Overall, it’s composed, rides smoothly, and provides excellent fuel economy for the lower trims.

2022 Hyundai Sonata
Great fuel economy
Intuitive infotainment system
Drives fine
Comfy interior
Roomy seats
Not quite sporty
Average engine power

7. 2022 Hyundai Kona

Like the 2022 Hyundai Sonata, the Kona is available for leasing at $289 monthly for 36 months and no money down. It utilises excellent cabin materials and has responsive infotainment controls, making it one of the most-preferred subcompact SUVs.

Suppose you’re looking for an SUV with excellent fuel economy and decent engine power for the 2022 Hyundai Kona. Whether you buy or lease this vehicle, it’s undoubtedly a good option for you. It has a $21,150 MSRP, making it one of the cheapest cars to lease with no money down.

To reiterate, the vehicle’s interior features high-quality materials, which unfortunately get mixed with a few hard plastics. It has an 8-inch or 10.25-inch touchscreen, through which you can effectively control the infotainment system and connect to Android Auto or Apple CarPlay.

2022 Hyundai Kona
Excellent fuel economy
Exquisite interior materials
Great driving experience
Intuitive infotainment controls
Powerful turbocharged engines
Inadequate rear-seat space
Small cargo capacity

8. 2022 Buick Encore Preferred 1SB

The 2022 Buick Encore is a small crossover that surprisingly delivers a spacious cabin that can seat four adults and carry lots of cargo after folding the rear seat. It is available at an MSRP of $25,795 and a monthly lease payment of $291 for 36 months with no down payment. The vehicle comes in only the Preferred AWD trim for 2022.

It comes with a 1.4-liter 155 hp four-cylinder engine that delivers adequate power for driving on city roads. Thanks to its well-weighted steering wheel, the vehicle navigates bends accurately, raising your comfort levels.

Despite a few blemishes, the Buick Encore’s interior is near-premium with soft-touch armrests and an intuitive infotainment system. You can connect your other devices to the internet using this vehicle’s built-in Wi-Fi.

2022 Buick Encore
Spacious cabin
Powerful engine
Comfortable to drive
Lots of connectivity options
Interior has some hard plastics

9. 2022 Volkswagen Atlas

The 2022 Volkswagen Atlas is the only midsize SUV with a car lease without a down payment. It has an airy cabin, massive cargo space, composed handling, and responsive tech features, making it a must-have either on financing or a lease. The vehicle ranks #9 in the midsize SUVs category, according to US News.

Depending on the model of the Atlas you get, it can seat either five or seven passengers. It costs $35,989 and is available for lease at $489, the second-highest monthly payment for vehicles featured in this review. But, since you don’t have to put any money down, that monthly payment is still affordable.

The simple, uncluttered interior presents a somewhat premium vibe that wanes once you begin to take a closer look. However, the 8-inch infotainment display compensates for that by presenting intuitive usability.

2022 Volkswagen Atlas
Spacious interior
Comfortable ride and handling
A user-friendly touchscreen
Poor-quality cabin materials
Underwhelming power

10. 2022 Subaru BRZ

For a 2022 Subaru BRZ lease deals with no money down, you have to pay $1,379 monthly for 36 months. That looks way too expensive for a vehicle whose MSRP is $28,955. So, what makes the BRZ such an attractive prospect for buyers and lessors alike?

The 2022 version of the vehicle has a 2.4-liter 228 hp flat-four-cylinder or “boxer” engine with 184 pound-feet of torque. It is more potent than the previous version of the car and delivers impressive fuel economy.

Its intuitive infotainment system works via an 8-inch touchscreen, sitting imposingly on the dashboard. Apart from the touch function, it also has several buttons and volume and tuning knobs. It can seat four adult passengers and carry substantial cargo.

2022 Subaru BRZ
Powerful engine
Easy to use infotainment system
Sizeable cargo space
The lease is expensive

Requirements To Access A $0 Down Lease Deal

Whether or not you are eligible for a no down payment lease directly hinges on your credit score. When auto manufacturers offer to announce promotional zero down leases, they typically say that the deals are only available to “qualified consumers”. In plain words, the companies are talking about customers with good credit scores qualifying for the deals.

If you are considering a special $0 down lease deal, we suggest that you get to know your credit score beforehand. You don’t want to get down to nasty surprises at the dealer showroom. What is your FICO score?

You can check out your credit score with various online platforms, though you might have to pay a fee. For example, you can find out your credit report now at Experian.com for $1. What other sites do you know? Feel free to share your comments below with the rest of the audience.

How Do I Get Cheapest Car Lease Deals

It looks like just when you urgently want to buy a new car, you lack the cash to make the requisite down payment. Fortunately, auto dealers might be willing to let you drive away without the cash upfront. In return, however, they ask for exorbitant interest rates, which can be as high as 12%-22%. For alternative solutions, here are simple tips to follow.

Key Points

  • Seeking to purchase a vehicle at a great price, but notice you have to pay a significant amount of cash upfront.
  • The down payment goes a long way towards reducing future monthly expenses, particularly when looking at high-interest car loans.
  • Growing your credit score, shopping around with different lenders, and getting a co-signer are all helpful tips for checking your down payment.

1) Minimum Down Payment

A down payment in any amount is recommended since it lowers your monthly instalment deposits. 20% is the standard best amount, but according to Edmunds.com, some consumers have suggested 12%, owing to the rising costs of cars.

You could put down a lesser amount if you so wish, or even purchase a vehicle without a down payment. However, you’ll be paying higher fees and rates.

Alternatively, consider waiting several months before purchasing a car to save up for the cash upfront. You can also use that time to increase your credit score. This way, car dealers will be more willing to reduce their rates.

The con with no money down car lease is that you may end up in an upside-down position with your car loan. If you ever wish to sell the car, you might end up counting losses since you owe more than the car’s resale value.

2) Enhance Your Credit Report

Credit scores starting at 680 will give you the best chance of bargaining for a down payment waiver without increasing your interest rates. Scores of 550-680 are seen as subprime. The car lender might waive the down payment while raising your rates. Credit scores under 550 might make the lender ignore deny you a lease altogether.

3) Get a Cosigner

Getting a colleague or family member with a solid credit score to cosign is another option. Your cosigner shares the responsibility of ownership and payment. However, missing a payment lowers both your credit scores.

4) Shop Around

By shopping around and bargaining, you could lower your interest rates even further. Consider banks, local credit unions, auto dealerships or other loan providers. Be sure to look around for online-specialised lenders with low-rate car loans and no down payment requirements.


Some of the cheapest cars to lease with no money down have awe-inspiring features, save fuel, and drive comfortably. Therefore, they don’t have to be the worst vehicles for you to lease with no money down. The value of the lease varies from $169 to $1,379, which makes it necessary for you to balance between price and specifications. Where a lessee requires no money down on a lease, qualifying conditions can be stringent. So make sure that your credit rating is top-notch before taking up any of these leases.

Frequently Asked Questions (FAQ)