Leasing Could Be A Cheaper Option As Car Prices Rise

TOYOTA PRIUS PRIUS 2021

Edmunds editors say: The Prius Prime has a bigger battery than the standard Prius and can be recharged at home. It can travel about 25 miles using all-electric power. For many people, that’s more than enough to drive around town. Once the battery is depleted, the Prius’ hybrid powertrain takes over and delivers excellent fuel efficiency.

Buying Notes: The Prius Prime is a great way to cut fuel costs, and the average lease offers an impressive 50% savings on the monthly payment if you were to finance.

Average monthly finance payment: $ 613

Average monthly rental payment: $ 306

Savings: $ 307 per month

2021 RAM 1500

Edmunds Editors Say: The Ram 1500 offers exceptionally smooth ride manners due to its distinct rear suspension design. You also get a premium interior highlighted by the optional 12-inch infotainment screen. V6 and V8 are both solid choices, but the diesel powered V6 is also worth considering for its higher fuel efficiency and rugged towing capability.

Buying Notes: Truck buyers tend to be quite brand loyal, but if you’re considering a full-size pickup, the Ram is worth a try not only for the savings, but also because he is one of the highest rated in Edmunds.

Average monthly finance payment: $ 779

Average Monthly Lease Payment: $ 534

Savings: $ 245 per month

CHEVROLET BOLT EV 2021

Edmunds editors say: The Chevrolet Bolt is a solid electric vehicle, especially with its 259 miles of range on a full battery charge. It is a pleasant electric vehicle to drive. The vertical hatchback styling doesn’t stand out in a crowd, but the Bolt offers a solid reputation for green and long-term performance at a low cost.

Purchase Notes: Chevy had planned a major Bolt update this year but was delayed by the pandemic. You’ll see more substantial changes for the 2022 model year. Part of the reason the offers are so good on the 2021 is the delay, but just know that you won’t have the latest body style for long.

Average monthly finance payment: $ 440

Average monthly rental payment: $ 216

Savings: $ 224 per month

CHEVROLET TAHOE 2021

Edmunds editors say: People expect comfort, capability, and convenience from a big SUV, and the Chevrolet Tahoe delivers. Redesigned for 2021, the Tahoe offers better interior space, increased cargo volume and a smoother ride on a wide variety of surfaces than the previous model. In short, he does a better job of being the workhorse of the family.

Buying Notes: The average monthly payment is quite high on these big SUVs, but for those who need seven seats, tow, or haul more cargo, opting for a lease in this case can save you 18%. on average per month.

Average monthly finance payment: $ 1,066

Average Monthly Lease Payment: $ 856

Savings: $ 210 per month

KIA FORTE 2021

Edmunds editors say: The Forte is a small, grown-up sedan that’s fantastic value considering its many features and long warranty. Other highlights include a comfortable and quiet interior and easy-to-use technological features. However, it lags behind the main competitors in terms of driving dynamics, ride quality and rear legroom.

Buying Tickets: The Forte’s savings may not seem spectacular, but in this price range, every dollar can make a difference.

Average monthly finance payment: $ 410

Average Monthly Lease Payment: $ 268

Savings: $ 142 per month

EDMUNDS SAYS: We generally don’t recommend leasing as a long term solution to save money, because at the end of the day it’s more expensive since you never own the vehicle. But the reality is that buying a car in today’s unusual climate is a more expensive proposition than it was a few years ago.

This story was provided to The Associated Press by the Edmunds automotive site. Ronald Montoya is the editor of consumer advice at Edmunds. Twitter: @ ronald_montoya8.