4 Japanese Cars To Stay Away From Leasing

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One of the biggest financial decisions you can make in 2024 is whether or not to get into a lease contract or just buy the car. For most people, money is tight right now, so if you’re in the market for a new or new-to-you car it’s important to consider all the money factors such as car insurance, monthly lease payments or your loan’s interest rates. There are always going to be better or worse lease agreements, but it helps to know which ones are best left on the table. 

Leasing a Car: Quick Take

When it comes to choosing between leasing or buying there are pros and cons on both sides. If you are specifically looking for a lease deal, here are some key takeaways to consider:

• You don’t own the car at the end of your lease period no matter how much you’ve invested. 
• You won’t have a trade-in option if you want to buy a new car.
• If you consistently lease for many years, you’ll probably spend more than if you had originally bought a car.
• Typically, you’ll be driving a late-model vehicle, so it might not be covered by the maker or leasing company’s new-car warranty.
• Leases often include scheduled maintenance or even free oil changes.
• There is a mileage limit for most lease agreements so this may not be ideal if you travel a lot for work. If you exceed the number of miles allowed you could incur a penalty when you return the vehicle. 

Avoid Leasing These 4 Japanese Cars

Known for making reliable cars that can take a lot of wear and tear, Japanese automakers are a go-to choice for many people in the market for a car. However, there are some makes and models you may want to avoid when it comes to leased vehicles. Here are four Japanese cars you may want to stay away from leasing.

Nissan Murano

• Average monthly lease payment: $505

Though your monthly payment will vary depending on the mileage and lease duration you are looking for, the 2024 Nissan Murano is probably not the best deal you can get. SUVs are a saturated market and will not give you the most distance for your dollar, especially when it comes to gas prices. Here are some things to consider: 

• Its 3.5-liter V6 with 260hp power source is outdated and less economical than other models.
• Has poorly rated style features. 
• Though you wouldn’t have to worry about how quickly this new car will depreciate, there is a chance you won’t enjoy the driving experience. 

Hyundai Veloster N 

• Average monthly lease payment: $450

As of 2023, the Hyundai Veloster N was discontinued. But just because there will be no 2024 models doesn’t mean leasing won’t be an option for models a few years older. Even if there is a lease option for you, it still may be something you want to dodge. If you’re on the fence, here are some key takeaways for clarity:

• It is more expensive to lease than other cars that are of similar make or mileage. 
• There will be no new models made so it won’t be available to upgrade in a few years. 
• Consumers tend to like a more conventional crossover body style. 

Mitsubishi Eclipse Cross

• Average monthly lease payment: $506

If you are someone who values driving feel and style choices, the Mitsubishi Eclipse Cross may not be the right fit. Even if you don’t prioritize these considerations, it still may not be the best lease contract for you. Here are some reasons why you might want to avoid leasing this model:

• You’ll still be responsible for paying for expendable items such as tires which can be expensive on better-equipped vehicles, especially when design flaws cause above-average wear and tear. 
• This model has low driver satisfaction ratings based on enhanced ride quality and interior and exterior design. 
• The Eclipse Cross is priced above other competing models of equivalent value and features. 

Toyota Prius

• Average monthly lease payment: $413

This is not to say Toyota Prius is not a good car or coveted by consumers, but the Prius as of late isn’t the best lease option for a few reasons. Though it was a leader in the hybrid and electric power game, it has become less valuable to leasers. Here’s why:

• Other companies have more advanced hybrid capabilities with current cars on the market. 
• The Prius is less efficient in both functional and physical design. 
• There could be hidden fees when you return the car at the end of the lease period. On the other hand, if you decide you don’t like the car or can’t afford the payments it could cost you thousands of dollars in termination acquisition fees. 

Final Take To GO 

The bottom line is that no matter how you want to hit the open road, it is a good idea to research what will get you farther — both in distance and financially. There are many wonderful Japanese cars available in the current automotive market, but this is precisely the reason you don’t have to settle for others that are less ideal. Before you sign any lease make sure you shop around for the best deal available to you.

Data is accurate as of Feb. 19, 2024, and is subject to change.

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