Here’s All The Cars And SUVs You Can Still Lease For Under $200/Month

It’s a tough time to be in the market for a new car or SUV. New vehicle inventories are low thanks to pandemic-fueled factory shutdowns last year and the ongoing shortage of microprocessor chips hampering production. Limited choices and pent-up demand is keeping transaction prices high, with some models selling for more than their sticker prices. 

If you’re looking for a new set of wheels but are put off by a dearth of haggling leverage, experts suggest leasing instead of buying your next car or SUV. “If you can’t find the [model] of your dreams out there but still need to jump into a new vehicle, leasing is a great solution,” says Ivan Drury, senior manager of insights for Edmunds.com. “You’ll be able to find cheaper monthly payments, and since a lease is usually a much shorter commitment than a purchase, you can test the waters with a new brand or vehicle type that you might not have considered in the past. By the time you come back to the market, the inventory situation will be in a much better place.” 

And despite the forces of supply and demand conspiring to drive up prices, we still managed to find 40 cars and SUVs from the 2021 model year that are leasing for less than $200 per month with nominal down payments. The best deals are on the Toyota Prius Prime plug-in hybrid and the Toyota Corolla sedan, which are both going for a mere $129 per month. These offers are all valid through the end of June. 

Be aware that all leases contain strict mileage limits, typically 10,000-12,000 per year. Exceed the limit and you will be charged what can amount to a stiff penalty, so be sure the contract covers your needs for daily commutes, weekend excursions, and the occasional road trip. Also, note that automakers’ promotional lease terms often vary somewhat from one part of the country to another and sometimes include special discounts for a brand’s current owners and/or lessees or those from competitors. Check with area dealers or automakers’ websites to see what’s being offered where you live.

2021 Cars Under $200/Month

• Honda Civic Sedan: $169/month for 36 months with $2,999 due at signing.
• Honda Civic Hatchback: $189/month for 36 months with $3,299 due at signing.
• Hyundai Elantra: $159/month for 36 months with $2,899 due at signing.
• Hyundai Elantra Hybrid: $179/month for 36 months with $2,899 due at signing.
• Hyundai Ioniq Hybrid: $189/month for 36 months with $1,999 due at signing.
• Hyundai Sonata: $169/month for 36 months with $2,899 due at signing
• Hyundai Sonata Hybrid: $149/month for 36 months with $2,399 due at signing.
• Kia Forte: $129/month for 24 months with $3,022 due at signing.
• Kia K5: $159/month for 24 months with $3,520 due at signing.
• Mitsubishi Mirage: $179/month for 36 months with  $3,128 due at signing.
• Nissan Sentra: $199/month for 36 months with $2,599 due at signing.
• Nissan Leaf: $199/month for 36 months with $1,149 due at signing.
• Subaru Legacy: $199/month for 36 with $2,879 due at signing.
• Subaru Impreza: $199/month for 36 with $1,999 due at signing.
• Toyota Prius Prime: $129/month for 36 months with $2,999 due at signing.
• Toyota Camry Hybrid: $189/month for 36 months with $2,999 due at signing.
• Toyota Corolla: $129/month for 36 months with $2,999 due at signing.
• Toyota Corolla Hybrid: $139/month for 36 months with $2,999 due at signing.
• Toyota Corolla Hatchback: $169/month for 36 months with $2,999 due at signing.
• Toyota Camry: $189/month for 36 months with $2,999 due at signing.
• Toyota Camry Hybrid: $189/month for 36 months with $2,999 due at signing.
• Volkswagen Jetta: $179/month for 39 months with $3,499 due at signing.
• Volkswagen Passat: $189/month for 39 months with $3,499 due at signing.

2021 Crossover SUVs Under $200/Month

• Buick Encore: $199/month for 39 months with $1,939 due at signing.
• Buick Encore GX: $199/month for 39 months with $3,549 due at signing.
• Chevrolet Trax: $179/month for 39 months with $2,689 due at signing.
• Chevrolet Equinox: $199/month for 39 months with $3,249 due at signing.
• Honda HR-V: $159/month for 36 months with $3,199 due at signing.
• Hyundai Kona: $189/month for 36 months with $2,299 due at signing.
• Hyundai Santa Fe: $199/month for 36 months with $3,599 due at signing.
• Hyundai Tucson: $179/month for 36 months with $2,699 due at signing.
• Hyundai Venue: $149/month for 36 months with $2,399 due at signing.
• Kia Sportage: $139/month for 24 months with 3,446 due at signing.
• Kia Seltos: $189/month for 36 months $2,899 due at signing.
• Kia Soul: $159/month for 24 months with $2,872 due at signing.
• Kia Niro: $159/month for 24 months with $3,396 due at signing.
• Kia Niro Plug-In Hybrid: $169/month for 24 months with $3,395 due at signing.
• Kia Niro Electric: $169/month for 24 months with $3,896 due at signing.
• Mazda CX-30: $189/month for 36 months with $2,999 due at signing.
• Toyota C-HR: $179/month for 36 months with $2,999 due at signing.