Best Car Lease Deals in Memphis, TN
Tennessee taxes monthly lease payments. Below are the most competitive lease programs in the Memphis market this month.
Updated 2026-06-16 · Reviewed monthly
Metro
Memphis
Tennessee
Lease tax rate
7%
State average
Federal EV credit
$7,500
Applies to all leased EVs
Popular vehicles to lease in Memphis
Driven by regional demand and dealer inventory in the Memphis market.
How leasing works in Memphis
Tennessee taxes monthly lease payments. That tax structure is the biggest variable in Memphis lease pricing — every other element of a lease (residual value, money factor, manufacturer incentives) is set nationally by the captive lender.
Negotiation tips for the Memphis market
- Always negotiate selling price before discussing monthly payment
- Request the dealer's lease worksheet and verify residual % and money factor against published programs
- End-of-quarter (March, June, September, December) typically yields the deepest dealer discounts
- Stack manufacturer rebates (loyalty, conquest, college, military) — they apply directly as cap-cost reductions
- Use our lease calculator to verify the dealer's math