5 Popular 2024 Car Models With Plummeting Lease Payments

If you’ve been car shopping this summer, you may have seen the roller coaster in prices. That may be especially true in your area when it comes to leasing these vehicles.

May saw good price drops, but then they slowed in June. According to CarsDirect, some of the biggest price drops in July are from Acura and Cadillac, with Mercedes-Benz and BMW offering great savings on some other luxury models.

Here’s a look at five popular 2024 car models that have plummeted in price. Keep in mind that you may find different deals and prices in your area using these models.

Also check out car brands that lose value faster than the average vehicle.

Now may be a good time to lease the 2024 VW ID.4 It’s among the vehicles seeing a price drop. For instance, in the Los Angeles area, the electric SUV in standard guise is leasing for $249 per month for 36 months, with $3,499 due at signing. That’s $36 less than last month and a nice deal compared to the manufacturer’s suggested retail price of $39,735.

Meet the first all-electric Acura. You can score a good deal with lower lease prices on the 2024 Acura ZDX. In the Los Angeles area, you can lease the EV for an effective monthly cost of around $666 per month. That’s $83 less than a month ago. You can probably get an even better deal if you’re a current Acura lessee.

If you shopped for the LYRIQ last month, you may be in for a surprise to find a pretty significant price drop. In fact, around the Los Angeles area, the overall price drop for this one is just shy of $100. Thanks to the drops in the monthly price and the amount due at signing, you can lease a new LYRIQ EV for an effective monthly cost of around $477. It also received a good overall score from Car and Driver. “Although the 2024 Lyric offers the best glimpse yet of Cadillac’s future, its on-road demeanor pays tribute to the brand’s most iconic luxury sedans,” according to Car and Driver.

If you’ve had your eye on the 2024 Mercedes GLC 300 SUV, this may be the time to act. The gas version in the Los Angeles area is leasing for $82 less than the previous month. The monthly payment and the amount due at signing also dropped by $50. You can lease a 2024 Mercedes-Benz GLC-Class trim for $549 for 36 months, with $4,643 due at signing. Keep in mind, this is still expensive compared to the MSRP of $48,600.

Here’s another popular 2024 vehicle model where prices are down again. In fact, the gas edition of the Escape ST-Line with a 1.5L engine saw a price drop of $85 per month in the Los Angeles area. That means you can lease the compact SUV for an effective monthly cost of $392. That might be just the deal you’re looking for with this $31,835 vehicle.

Image: 2023 Ford Escape ST-Line Elite