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10 Affordable Vehicles to Either Lease, Buy New or Purchase Used in June 2012

Published: June 15, 2012

According to Alec Gutierrez, senior market analyst of automotive insights for Kelley Blue Book, consumers searching for a budget-friendly new vehicle this month need to look no further.  Kelley Blue Book scoured its incentive and Fair Purchase Price (the price car shoppers are typically paying a dealer for a new vehicle) data to identify the most affordable new vehicles available today.  First, KBB highlighted those vehicles with the most attractive lease offers and  determined what it would cost to buy that same vehicle instead, taking into consideration any available incentives.  To further aid shoppers they also identified the most recent used model-year vehicle that could be purchased within $50 of the rock bottom lease price.  Among these vehicles, there are several instances where leasing or purchasing new is a better value buy than used.

For instance, shoppers interested in the Nissan Versa, Hyundai Accent or Ford Fiesta would be best served buying the new model rather than leasing.  Each of these vehicles can be purchased on a five-year note for only $30 to $40 more than the best available lease option.  For only a few bucks more every month, a consumer could own these vehicle outright after five years rather than having to give it up with no equity at the end of their two to three year lease term.

Those consumers willing to forgo that new-car smell and are open to a slightly used vehicle should take a look at the 2011 Nissan Sentra.  A 2011 Nissan Sentra with 24,000 miles is mechanically identical to the brand new model, and since it can be purchased for only $34 more than a lease on a 2012, it makes an excellent choice.  The remaining vehicles on the list make excellent lease candidates.  They all lease offers at least $100 more affordable per month than buying new and are significantly newer than the used version in the same price range.

Typically cheaper than buying a new or used vehicle on a monthly basis, leasing allows consumers to drive more car than they can afford to buy.  For those that want a brand new vehicle every two to three years that is always covered under warranty, leasing makes an excellent choice.  A lease also allows consumers to mitigate shocks to the used-car market.  Kelley Blue Book expects used-car values to steadily decline during the next few years and a lease is a great way to reduce exposure to declining values.  The major downside to leasing is that at the end of the lease term, a consumer is typically left with little equity in their vehicle, if any, which is of little concern to those planning to jump into another lease.  In the long run, it is always more affordable to buy a new or used car, and drive it until the wheels fall off.  However, at the end of the day, there is nothing quite like driving off the lot in a brand new car.

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Ten Affordable Vehicles to Either Lease, Buy New or Purchase Used in June 2012

Payment*

Lease vs. Buy

Comparable Used Car

MY

Make Model Trim

Lease

BuyNew

BuyUsed

New

Used

MY

PP**

Miles

2012

Nissan Versa S Hatchback 4D

$350

$382

$350

($32)

$0

2011

$11,100

24,000

2012

Hyundai Accent GLS Sedan 4D

$331

$365

$336

($34)

($6)

2011

$10,450

24,000

2012

Ford Fiesta SE Sedan 4D

$348

$392

$363

($44)

($15)

2011

$12,250

24,000

2012

Chevrolet Cruze/Cobalt LS Sedan 4D

$357

$443

$370

($86)

($12)

2010

$11,850

32,000

2012

Nissan Sentra SR Sedan 4D

$364

$451

$397

($88)

($34)

2011

$12,750

24,000

2012

Chevrolet Malibu LT Sedan 4D

$384

$486

$412

($102)

($28)

2009

$13,215

43,000

2012

Honda Civic LX Sedan 4D

$333

$445

$370

($112)

($37)

2009

$11,850

43,000

2012

Subaru Impreza 2.0i Sedan 4D

$336

$454

$401

($119)

($65)

2008

$11,450

56,000

2012

Honda Accord LX Sedan 4D

$383

$526

$416

($143)

($32)

2009

$13,115

43,000

2012

Volkswagen Jetta 2.5L SE Sedan 4D

$339

$561

$408

($222)

($69)

2009

$12,750

43,000

*Payment includes monthly cost of fuel assuming 12,000 miles driven per year and $3.60 gas, any applicable incentives and a 10 percent down payment
**PP represents Kelley Blue Book’s Private Party Value and assumes stated mileage, typical equipment configuration and good condition

 

 

Lease Details

MY

Make Model Trim

MPG

Adv. Pay*

Term

Down

Payment

2012

Hyundai Accent GLS Sedan 4D

33

$169

36

$1,899

$331

2012

Honda Accord LX Sedan 4D

27

$250

35

$0

$383

2012

Honda Civic LX Sedan 4D

32

$220

35

$0

$333

2012

Chevrolet Cruze LS Sedan 4D

30

$159

24

$1,879

$357

2012

Ford Fiesta SE Sedan 4D

33

$149

24

$2,158

$348

2012

Subaru Impreza 2.0i Sedan 4D

30

$169

42

$1,969

$336

2012

Volkswagen Jetta 2.5L SE Sedan 4D

28

$159

39

$1,999

$339

2012

Chevrolet Malibu LT Sedan 4D

26

$179

24

$1,589

$384

2012

Nissan Sentra SR Sedan 4D

27

$179

39

$1,999

$364

2012

Nissan Versa S Hatchback 4D

30

$179

39

$1,999

$350

Note: Incentives may not be available in all regions or combined, see your local dealer for details
*Adv. Pay refers to the advertised lease payment before amortizing the required down payment and adding fuel costs

 

 

Buy New Details

MY

Make Model Trim

MPG

APR

Cash

MSRP

FPP*

Payment

2012

Hyundai Accent GLS Sedan 4D

33

3.90%

$13,320

$12,673

$365

2012

Honda Accord LX Sedan 4D

27

1.90%

$23,050

$20,413

$526

2012

Honda Civic LX Sedan 4D

32

1.90%

$18,795

$17,271

$445

2012

Chevrolet Cruze LS Sedan 4D

30

2.90%

$500

$17,595

$16,902

$443

2012

Ford Fiesta SE Sedan 4D

33

2.90%

$500

$15,465

$14,860

$392

2012

Subaru Impreza 2.0i Sedan 4D

30

1.90%

$18,245

$17,391

$454

2012

Volkswagen Jetta 2.5L SE Sedan 4D

28

0.90%

$24,230

$23,055

$561

2012

Chevrolet Malibu LT Sedan 4D

26

0.00%

$3,000

$22,870

$21,935

$486

2012

Nissan Sentra SR Sedan 4D

27

0.90%

$1,000

$19,140

$17,957

$451

2012

Nissan Versa S Hatchback 4D

30

0.90%

$500

$15,350

$14,483

$382

Note: Incentives may not be available in all regions or combined; see your local dealer for details
*FPP refers to Kelley Blue Book’s Fair Purchase Price, the price one can expect to pay based on sold transaction data

 

 

Buy Used Details

MY

Make Model Trim

MPG

PP*

Miles

Payment

2011

Hyundai Accent GLS Sedan 4D

30

$10,450

24,000

$336

2009

Honda Accord LX Sedan 4D

25

$13,115

43,000

$416

2009

Honda Civic LX Sedan 4D

29

$11,850

43,000

$370

2010

Chevrolet Cobalt LT Sedan 4D

29

$11,850

32,000

$370

2011

Ford Fiesta SE Sedan 4D

33

$12,250

24,000

$363

2008

Subaru Impreza 2.5i Sedan 4D

22

$11,450

56,000

$401

2009

Volkswagen Jetta SE Sedan 4D

25

$12,750

43,000

$408

2009

Chevrolet Malibu LT Sedan 4D

26

$13,215

43,000

$412

2011

Nissan Sentra Sedan 4D

27

$12,750

24,000

$397

2011

Nissan Versa S Hatchback 4D

30

$11,100

24,000

$350

*PP represents Kelley Blue Book’s Private Party Value and assumes stated mileage and good condition