How a Car and Driver Editor Leases a Car

Leasing every few years works well for one Car and Driver editor. Loans build equity, but with new-car prices high, financing isn't always smarter. It depends on interest rates, loan length, and ownership plans. Since cars depreciate quickly, buyers can end up upside down, owing more than the car is worth.

Using a 2024 Kia Niro EV priced at $42,670 as an example, a 72-month loan at 0 percent would run about $592 a month. A 24-month loan would be almost $1,800 a month before taxes. The lease, meanwhile, cost well under $400 a month in effective payments—down payment, monthly payments, taxes, and fees divided by the lease term.

The editor lives in Michigan with a toddler and prioritizes heated leather or vinyl seats for quick warmth and easy cleanup. Getting those features for under $450 a month effective isn't easy, but possible without haggling. Instead of long dealer negotiations, the strategy is 30 minutes of searching manufacturer lease offers, reading fine print on trim and mileage limits, and calculating true costs with room for taxes and fees.

If nothing fits, raise the payment cap or drop a must-have. When comparing finalists, the editor prefers the lowest down payment, because that money is nonrefundable if the car is totaled right after leaving the dealership. Insurance would cover future payments, not the down payment.

The method in short: set a max effective payment with and without taxes/fees; list must-haves; search manufacturer sites and read the fine print; crunch numbers and reassess; prioritize lowest total cost, highest mileage cap, or lowest signing payment; then find a dealer with qualifying stock, refuse upsells, and stick to the manufacturer's deal.