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Is It Better to Buy Or Lease a Car in 2024?

Is It Better to Buy Or Lease a Car in 2024?

The decision between buying and leasing a car is a tricky one. In 2024, this choice is even more pertinent due to shifting market dynamics and attractive manufacturer incentives. Drawing insights from CarEdge Co-Founder Ray Shefska, we delve into the nuances of buying versus leasing to help you make an informed decision.

Understanding Leasing in 2024

CarEdge buying or leasing in 2024

Leasing has traditionally been a popular option for drivers seeking lower monthly payments and the flexibility to change cars every few years. However, leasing fell out of favor during the pandemic era. In 2024, leasing is once again growing in popularity as drivers look to avoid the high interest rates that come with buying. There are also reasons why the dealers and car manufacturers themselves are fans of leasing. 

Leasing keeps customers coming back to the dealership, more so than selling does. It’s also seen as a proven method of increasing brand loyalty. Ray highlights that many manufacturers are trying to increase the number of vehicles that are being leased due to the benefits it offers both dealerships and customers. Leasing ensures customers return at the end of their term, potentially increasing brand loyalty and dealership traffic.

Historically, leasing deals accounted for about 30% of all new car sales. However, this figure has recently dipped to around 17-18%. In response, manufacturers are rolling out aggressive leasing deals to climb out of the leasing slump. In early 2024, there’s an abundance of attractive lease offers for popular models. 

First, let’s talk about whether buying or leasing makes sense for you.

The Benefits of Leasing a Car

Leasing in 2024 offers several advantages over buying:

  • Lower Monthly Payments: Aggressive leasing deals can significantly reduce monthly payments, making it feasible for customers to opt for higher trim levels without stretching their budgets.
  • Quality Used Inventory: The end of lease terms brings a wave of desirable used vehicles back to dealerships, benefiting the used car market with a supply of attractive options.
  • Flexibility: Leasing allows consumers to enjoy the latest models every few years, along with the latest technology and safety features, without the long-term commitment of buying.

👉 See the Best Lease Offers This Month

The Benefits of Buying a Car in 2024

Purchasing a vehicle outright continues to be a viable option for those looking for long-term value and ownership. These are the main advantages of buying instead of leasing:

  • No Mileage Restrictions: Unlike leasing, buying a car frees you from mileage limits, making it ideal for those with high commute demands.
  • Ownership Equity: Every payment made towards buying a car builds equity, eventually leading to outright ownership, which can be financially beneficial in the long run. Keep in mind that it’s never a smart idea to buy if you plan to sell within a few years. Depreciation hit’s hard, as car owners are finding out today.
  • Freedom to Customize: Owning a car allows for personalization and modifications without the restrictions typically imposed by a lease agreement.

👉 If you’re looking for a complete, in-depth breakdown of leasing see the CarEdge Consumer’s Guide to Leasing in 2024.

Making the Right Choice

The decision to buy or lease in 2024 hinges on personal preferences, driving habits, and financial considerations. Ray advises, “Customers should check the manufacturer website and see what kind of sales and lease offers are available in their area before heading to the dealership.” Additionally, it’s crucial to check insurance costs before falling head over heels for any new car.

👉 See this month’s best leasing and financing offers

Conclusion

In 2024, whether to buy or lease a car depends on your individual needs and lifestyle. With manufacturers pushing more attractive lease deals, leasing may become a more appealing option for many. Leasing is a great way to avoid the worst effects of today’s high interest rates. 

However, the long-term benefits of ownership and the freedom that comes with buying a car remain compelling factors. By carefully weighing the pros and cons and staying informed about current offers, you can make a decision that best suits your circumstances and ensures your satisfaction in the ever-changing automotive landscape.

Free Car Buying Help Is Here!

Car buying cheat sheet

Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!

These Are the Most Negotiable Car Brands in Your Region

These Are the Most Negotiable Car Brands in Your Region

When searching for the best new car deals, a powerful tool is the latest local inventory data. Equipped with behind-the-scenes market insights, you’re setting out with negotiation leverage on your side. The best way to compare apples to apples in new car inventory is with a little-known metric: market day supply. Market Day Supply (MDS) refers to the number of days it would take to sell all current inventory at the current rate of sales, without any new supply being added. MDS isn’t perfect, but it’s one of the best tools we have for gauging supply and demand in the new car market.

With a mix of leftover 2023 models and newly arrived 2024s piling up on dealer lots, now is the perfect time to put your car buying toolkit to work to hunt down some deals. 

We’ve used CarEdge Data to identify the new car brands with the most and least inventory in every region in America. Skip ahead to your region using the table of contents below.

New England

Dodge Hornet

These are the most and least negotiable new cars in Maine, Massachusetts, Connecticut, Rhode Island, New Hampshire, and Vermont in early 2024.

Most Negotiable

MakeMarket Day SupplyTotal For Sale
Dodge3141754
Chrysler260838
Ram2584448
Jeep24912836
Buick1311036

Least Negotiable

MakeMarket Day SupplyTotal For Sale
Toyota4813930
Lexus481956
BMW493000
Honda578134
Cadillac64636

As is the trend in recent times, Stellantis brands dominate the list of most negotiable new cars in New England. Asian automakers like Toyota, Lexus, and Honda have the least inventory.

See local market inventory for specific models with CarEdge Data.

East Coast (Mid-Atlantic)

Jeep negotiability

This region includes the states of New York, New Jersey, Pennsylvania, Delaware, Maryland, and Washington DC this month. 

Most Negotiable

MakeMarket Day SupplyTotal For Sale
Dodge3119182
Chrysler2183028
Jeep19835721
Ram19212880
Mazda12024950

Least Negotiable

MakeMarket Day SupplyTotal For Sale
BMW469378
Honda4824661
Lexus498008
Toyota5036908
Cadillac553254

Stellantis brands take the top spot yet again. These are the same brands we saw on this list over most of the past year. However, it is interesting to see Mazda inventory so high on the East Coast.

See local market inventory for specific models with CarEdge Data.

Southeast

Ram truck negotiability

This region includes Virginia, North Carolina, South Carolina, Florida, Georgia, Tennessee, West Virginia, Kentucky, Alabama, Mississippi, Louisiana, and Arkansas in early 2024. 

Most Negotiable

MakeMarket Day SupplyTotal For Sale
Dodge36529398
Ram21133461
Jeep18437196
Chrysler1663694
Buick12511446

Least Negotiable

MakeMarket Day SupplyTotal For Sale
Toyota3875528
Honda4333148
Kia4621222
Lexus4614694
BMW5313157

There’s a whole year of inventory for new Ram trucks in the Southeast right now. Toyota, Kia, Honda, and BMW are far less negotiable with slim supply.

See local market inventory for specific models with CarEdge Data.

Midwest

Jeep negotiability

This region includes Ohio, Indiana, Michigan, Illinois, Wisconsin, Iowa, Missouri, Minnesota, Kansas, Nebraska, South Dakota, and North Dakota right now. 

Most Negotiable

MakeMarket Day SupplyTotal For Sale
Dodge35413671
Ram17828066
Jeep16435543
Chrysler1424302
Buick12918753

Least Negotiable

MakeMarket Day SupplyTotal For Sale
Lexus384786
Toyota4130521
Honda4323579
Cadillac534754
BMW627074

As expected, Stellantis brands like Dodge, Ram, and Jeep have the highest inventory and therefore the most negotiability in the Midwest.

See local market inventory for specific models with CarEdge Data.

Southwest

Nissan Titan deals

In the Southwest region, we’ve included the states of Texas, Oklahoma, New Mexico, Arizona, and Nevada in early 2024. 

Most Negotiable

MakeMarket Day SupplyTotal For Sale
Dodge36116824
Chrysler2292190
Ram18821176
Jeep17820976
Nissan12330298

Least Negotiable

MakeMarket Day SupplyTotal For Sale
Toyota3928338
Lexus477636
Kia5010604
Cadillac504032
Honda5117611

This month, Nissan joins Stellantis brands in the ranks of most negotiable new cars based on inventory.

See local market inventory for specific models with CarEdge Data.

West Coast

Dodge Charger negotiability

In this region, we have California, Oregon, Washington, Alaska, and Hawaii this month. 

Most Negotiable

MakeMarket Day SupplyTotal For Sale
Dodge39610698
Ram26513031
Jeep22017964
Chrysler2122496
Nissan13419606

Least Negotiable

MakeMarket Day SupplyTotal For Sale
Toyota3941813
Honda4926063
BMW5011087
Kia5611823
Cadillac582190

Looking for car deals on the west coast? Follow the inventory! Stellantis brands like Dodge, Ram, Jeep, and Chrysler are the most negotiable car brands in states like California and Oregon.

See local market inventory for specific models with CarEdge Data.

Mountain West

Ram truck deals 2024

In the Mountain West region, we have Colorado, Utah, Wyoming, Montana, and Idaho in early 2024. 

Most Negotiable

MakeMarket Day SupplyTotal For Sale
Dodge3521682
Chrysler210369
Jeep1996543
Ram1806723
Nissan1514845

Least Negotiable

MakeMarket Day SupplyTotal For Sale
BMW40987
Toyota479400
Honda573283
Lexus571125
GMC653221

Nissan joins Dodge, Ram, Jeep, and Chrysler on the list of most negotiable car brands in 2024. BMW, Toyota, Honda, and GMC have the least inventory in the Mountain West.

See local market inventory for specific models with CarEdge Data.

The Takeaway

Did you notice a trend in the data? It’s abundantly clear that Stellantis brands (Chrysler, Dodge, Jeep, and Ram), are having a VERY tough time selling cars in 2024. Everywhere you look, Stellantis’ vehicles are sitting on the dealership lots for longer than any other cars today. Does that make them more negotiable? Yes, but not always. The dealer has to be reasonable and motivated to sell. By you arriving with this powerful market data in hand, you’re setting off on the right foot. Negotiation know-how is worth a lot in today’s car market!

👉 Try our 100% FREE car buying course: Deal School from CarEdge

Free Car Buying Help Is Here

Car buying cheat sheet

Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!

The Most Reliable EVs According to Consumer Reports: 2025 Rankings

The Most Reliable EVs According to Consumer Reports: 2025 Rankings

Choosing the right electric vehicle is about more than just reducing your carbon footprint. Reliability is a crucial factor, particularly as the cost of repairing an electric vehicle outside of warranty becomes a frequent headline. Here, we present the top 10 most reliable EVs for 2025, according to Consumer Reports.

👉 Looking for the most reliable car brands overall? Check it out here. 

The Most Reliable EVs Overall – 2025

Most reliable EVs in 2025
MakeModelReliability ScoreOverall CR ScoreBase MSRP
BMWi48289$52,200 - $69,700
NissanAriya5868$43,190 - $60,190
LexusRZ5767$58,500 - $64,000
KiaNiro EV5470$39,600 - $44,600
AudiQ4 e-tron5472$49,800 - $58,200
HyundaiIONIQ 65076$37,500 - $53,650
PorscheTaycan4978$90,900 - $197,500
GenesisGV604774$53,800 - $71,350
FordMustang Mach-E4368$42,600 - $61,600
TeslaModel 34269$40,240 - $53,240

👉 These are the best EV warranties

The Complete List: Consumer Reports EV Reliability Ratings

Consumer Reports EV reliability
MakeModelConsumer Reports Reliability Score
LexusRZ57
HyundaiIONIQ 650
PorscheTaycan49
NissanAriya58
BMWi482
BMWiX29
KiaNiro EV54
KiaEV631
AudiQ4 e-tron54
ToyotabZ4X38
TeslaModel 342
GenesisGV6047
FordMustang Mach-E43
GenesisGV70 Electric35
TeslaModel Y41
AudiQ8 e-tron26
FordF-150 Lightning28
HyundaiIONIQ 530
LucidAir7
JaguarI-PACE30

CarEdge’s Take

Most reliable EVs in 2025

We have a number of EV enthusiasts on the CarEdge team, from Tesla fans to Hyundai IONIQ 5 owners. In our opinion, Consumer Report’s EV reliability ratings need to be taken with a grain of salt. Several of the best-rated electric vehicles on the list have some of the slowest charging, lowest range, and in some cases, all-around poor reviews.

Take the all-new Lexus RZ for example. Although it’s a Lexus, it shares the same electric powertrain with the Toyota bZ4X and even the Subaru Solterra. In Out of Spec’s test, the RZ went just 176 miles on the interstate at 70 miles per hour on a full charge in warm weather. Most of the competition is good for at least 200 miles on the highway between charging stops.

Much of the same could be said about the Nissan Ariya, Audi Q4 e-tron, and overpriced Kia Niro EV.

The best-equipped EVs on the Consumer Reports reliability list are, in terms of charging speeds and range, the Hyundai IONIQ 6, Tesla Model 3, Kia EV6, and BMW’s electric offerings. These models offer more range, and less time spent at charging stations. 

Is 2025 the right time to buy an EV? 

If you’re planning to keep your next vehicle for years to come, and you’re willing to exchange convenience on road trips for fuel savings and slashing tailpipe emissions, then 2025 is a good time to go electric. If you’re likely to need an upgrade in a few years, we strongly recommend an EV lease. Resale values continue to undergo wild swings in the used EV market. This will continue as better-equipped EVs hit the market in years to come.

👉 See the best EV lease deals this month, or check out the best EV financing offers

Year-End Deals: The Best SUV Leases Right Now

Year-End Deals: The Best SUV Leases Right Now

Leasing is the most affordable way to get into a new car for many drivers, and 2023’s year-end sales present a rare opportunity to secure a phenomenal deal. In December, $0 down lease offers are finally here for popular SUV models. These are the best SUV and crossover lease deals right now. 

👉 Is leasing right for you? Check out our guide to understanding your lease.

Volkswagen Lease Deals: $0 down, $0 due at signing, $0 first month’s payment

Volkswagen SUV lease deals

Volkswagen has the best SUV lease offers right now. All of the following VW SUVs are eligible for $0 down, $0 due at signing, and $0 first month’s payment:

Volkswagen Taos

Volkswagen Tiguan

Volkswagen Atlas

Volkswagen Atlas Cross Sport

Volkswagen ID.4

See Volkswagen listings with local market data, or learn more about this deal

Hyundai Lease Deals: $0 due at lease signing

Hyundai lease deals this month

2024 Hyundai Palisade SEL

$0 due at lease signing, $489 per month for 36 months

See Palisade listings with local market data, or learn more about Hyundai lease deals.

Chevrolet Lease Deals: Equinox and Blazer

The best SUV lease deals - Chevrolet

2024 Chevrolet Equinox LT

$299/month for 24 months with $1,409 due at signing

2024 Chevrolet Blazer 2LT

$309/month for 24 months with $2,059 due at signing

See Chevrolet listings with local market data, or learn more about this deal

Mazda Lease Deals: CX-5 and CX-30

Mazda SUV lease deals - December 2023

2024 Mazda CX-5

$349/month for 36 months with $2,999 due at signing

2024 Mazda CX-30

$280/month for 36 months with $2,999 due at signing

See Mazda listings with local market data, or learn more about this deal

Free Car Buying Help Is Here

Car buying cheat sheet

Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!

These 5 Mazdas Qualify For the Lowest Financing Offers Right Now

These 5 Mazdas Qualify For the Lowest Financing Offers Right Now

As the year comes to a close, many automakers are offering deals to entice potential buyers, and Mazda is no exception. From no payments for 90 days for all new Mazda vehicles, to 0.9% APR for popular models, Mazda has some of the best year-end deals. In this overview, we’ll take a closer look at Mazda’s offers, helping you navigate through the available lease, finance, and cash deals.

When you buy your new Mazda with CarEdge, you pay the CarEdge Fair Price and never step foot in a dealership again.

Here’s Our CarEdge Promise:

  1. Pre-negotiated Deals
  2. Delivered to your door
  3. No hidden fees or add-ons
  4. CarEdge Concierge to guide you along the way

It’s car buying done right! Learn more about buying with CarEdge.

Browse CarEdge Mazda listings, or click on any of the links below. Enjoy the deals!

Mazda Financing Deals

A total of five popular Mazda models qualify for APRs under 2% in December. In a new car market with the average APR hovering around 10%, these are some of the best year-end car sales today.

0% APR for 60 months + No payments for 90 days

2024 Mazda CX-5

0.9% APR for 36 months + No payments for 90 days

Mazda finance offers

2023 Mazda CX-30 (Turbo trims only)

2024 Mazda CX-90 (Turbo Select, Turbo Preferred, Turbo Preferred Plus, Turbo Premium, or Turbo Premium Plus trims)

2023 Mazda MX-5 Miata (including RF)

1.9% APR for 60 months + No Payments for 90 Days

Mazda year-end sales 2023

2024 Mazda CX-50

2.9% APR for 36 months

Mazda offers December 2023

2024 Mazda CX-90 (Turbo S, Turbo S Premium, or Turbo S Premium Plus trims)

2023 Mazda CX-30 (Non-Turbo trims only)

3.9% APR for 36 months + No payments for 90 days

Mazda year-end deals

2024 Mazda3 Hatchback

Mazda Lease Specials

$1,500 Mazda Lease to Lease Loyalty Reward offer is for customers returning their original Mazda CX-9 leased through Mazda Capital Services when leasing any new2024 Mazda CX-90 vehicle through Mazda Financial Services.

2024 Mazda CX-30

$297/month for 36 months with $2,999 due

2023 Mazda CX-30

$301/month for 36 months with $2,999 due

2023 Mazda CX-5

$309/month for 36 months with $2,999 due

2024 Mazda CX-50

$344/month for 36 months with $3,999 due

2024 Mazda3 Hatchback

$344/month for 36 months with $2,999 due

2024 Mazda CX-5

$349/month for 36 months with $2,999 due

2023 Mazda3 Hatchback

$379/month for 36 months with $2,499 due

2023 Mazda3 Sedan

$379/month for 36 months with $2,999 due

2024 Mazda CX-90

$415/month for 36 months with $4,999 due

$2,000 lease customer cash

2023 Mazda MX-5 Miata

$457/month for 36 months with $2,999 due

2023 Mazda MX-5 Miata RF

$493/month for 36 months with $2,999 due

2024 Mazda CX-90 PHEV

$533/month for 36 months with $4,999 due

$7,500 lease customer cash

Other Mazda Offers

$750-$2,000 customer bonus cash: 2023 Mazda CX-30

$1,000 Mazda Loyalty Reward Program: 2024 Mazda CX-90

Free Car Buying Help Is Here

Car buying cheat sheet

Mazda’s November offers provide a range of financing and leasing choices for prospective buyers. Whether you’re interested in purchasing a new Mazda with low APR financing or considering a lease option, there are various incentives available this month. 

Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!