Cincinnati, Ohio—Wantalease.com, the nation’s first online car lease marketplace for new lease deals, reports the latest update on new lease offerings for the month of August. Over 33% of today’s popular automotive manufacturers of trucks and SUVs offered generous discounts on new lease deals.
While most car prices have remained steady in August, manufacturers offered discounts on all categories of trucks and SUV’s including small, mid-size and large. The Cadillac Escalade experienced the largest price drop of the month with a -22.96% decrease in payment. The GMC Yukon experienced a -20.72% drop, followed by the GMC Canyon Crew (-15.32%) and Ford F-150 (-12.09%).
The Escalade decreased in monthly payment by -$248.61, bringing monthly payments to $689 per month. The Yukon dropped -$142.69, bringing its monthly payments to $449 per month.
“We’re seeing an increase in discounts and aggressive pricing beginning to permeate across trucks and SUV’s as 2020 vehicles have begun to occupy dealer lots,” said Scot Hall, Executive Vice President of Wantalease.com. “Consumers are searching for aggressive deals on a variety of vehicles, but may find themselves leaning toward SUVs and trucks if they’re available at more affordable rates.”
The vehicles with the largest increase in monthly payment were the Ford Explorer with a 13.34% increase, and the Volkswagen Passat with a 11.59% increase in price from July. The Explorer is currently offered at $416 per month, while the Passat is offered for $229.
The most affordable vehicle of the month remains the Nissan Sentra, coming in at just $129 per month. The Nissan Sentra has maintained the lowest price on a new vehicle lease for the past six months.