It may be hard to believe, but it is possible to lease a car for under $100 a month. You may have to fork over a ton of cash upfront, but there are options for those looking for a brag-worthy lease deal with an extremely low payment.
Based on our analysis, lease incentives like this tend to be advertised at the dealer level rather than by a car manufacturer. Sadly, an inventory shortage has resulted in the virtual elimination of new car leases under $100 a month.
Having said that, they also often feature shorter 24-month lease terms designed to take advantage of higher residual values.
Apart from the potential to end up paying more than expected, shoppers should watch out for discounts that they may not be eligible for. Be sure to also ask if the first payment is factored into the price since it will impact the final cost.
As previously mentioned, it's becoming increasingly difficult to find sub-$100 leases these days, but here are a couple of examples we managed to scrounge up from across the nation.
Leases Under $100/Month
2023 Kia Forte: $99 per month for 36 months
A Kia dealer in eastern Pennsylvania is currently offering the 2023 Kia Forte for just $99 per month for 36 months. That sounds too good to be true because frankly, it is. Performance Kia in Moosic, PA is offering the 2023 Forte LXS for $99 a month, but with a ghastly $8,999 due at signing.
The effective monthly cost works out to a ghastly $349. The dealership didn't outline an MSRP in the lease's fine print, but given that the Forte LXS carries a $21,315 starting price, that is far from a good deal.
2023 Forte inventory is rather low these days, but Kia is still advertising a $229 lease deal with $2,799 due at signing over 36 months. The factory Forte lease deal sports an effective monthly cost of $307, which isn't all that great of a deal but is still significantly more appealing than the $99 option.
You'll have much better luck finding a 2024 Forte, which is currently available for just $10 more at $239 a month over 39 months with the same $2,799 due at signing. Again, its $317 effective monthly cost falls short of a great value, but it's still far better than the $99 deal.
2023 Volkswagen Jetta - $99 per month for 24 months
This might be a bit of a stretch since the last evidence of this offer being advertised is from October, and the 2023 Jetta availability is very limited. That being said, Vernon Volkswagen in Vernon, Connecticut was featuring a $99 lease deal on the 2023 pretty recently. They're offering the 2023 Jetta Sport for $99 a month over 24 months with $4,999 due at signing. The effective monthly cost works out to $307, which falls short of a good deal relative to the Jetta's $21,750 starting price.
Unlike the Kia, there's no factory lease offer to compare the $99 offer to, as VW hasn't offered a promotional Jetta lease deal in some time now. That being said, the $99 deal is relatively in line with what we see from Volkswagen, albeit that just means that VW's lease offers haven't been that great lately. It's also worth noting that the Vernon deal only has a mileage allowance of 7,500, whereas most other deals you'll find will have 10,000-mile allowances.
While the Vernon deal isn't egregious, you're better off reaching out to your dealer to see if you can find a more competitive deal on the more readily available 2024 Jetta. While that's in part due to the 2023 Jetta's dwindling availability, $99 leases in general sound a lot better in theory than they are. If you're lucky enough to find one, chances are it will either carry an abnormally high amount due at signing or some other catch that renders it less attractive than a "normal" lease.
- Sean Kaufman Automotive Editor
Sean is an automotive enthusiast with a background in sports journalism. He is a graduate of California Lutheran University with a Bachelor of Science in Business.
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