What counts as a 'cheap' lease?
A truly cheap lease has three characteristics: monthly payment under $300, total due at signing under $3,000, and a competitive money factor (under 0.0015, equivalent to ~3.6% APR). Many advertised 'cheap' deals fail the third test.
Cheapest models to lease right now
Toyota Corolla and Hyundai Elantra typically lead at ~$199/mo. Honda Civic, Kia Forte, and Mazda3 follow at ~$229/mo. For SUVs, Chevrolet Equinox and Kia Sportage often dip below $270/mo.
Where to find the cheapest deals locally
Manufacturer websites publish national 'advertised' lease programs each month — those are the floor. Dealer-level pricing can beat advertised deals when inventory is high. Always request the lease worksheet showing residual %, money factor, and selling price.