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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
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!
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
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
These are the most and least negotiable new cars in Maine, Massachusetts, Connecticut, Rhode Island, New Hampshire, and Vermont in early 2024.
Most Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Dodge | 314 | 1754 |
| Chrysler | 260 | 838 |
| Ram | 258 | 4448 |
| Jeep | 249 | 12836 |
| Buick | 131 | 1036 |
Least Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Toyota | 48 | 13930 |
| Lexus | 48 | 1956 |
| BMW | 49 | 3000 |
| Honda | 57 | 8134 |
| Cadillac | 64 | 636 |
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)
This region includes the states of New York, New Jersey, Pennsylvania, Delaware, Maryland, and Washington DC this month.
Most Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Dodge | 311 | 9182 |
| Chrysler | 218 | 3028 |
| Jeep | 198 | 35721 |
| Ram | 192 | 12880 |
| Mazda | 120 | 24950 |
Least Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| BMW | 46 | 9378 |
| Honda | 48 | 24661 |
| Lexus | 49 | 8008 |
| Toyota | 50 | 36908 |
| Cadillac | 55 | 3254 |
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
This region includes Virginia, North Carolina, South Carolina, Florida, Georgia, Tennessee, West Virginia, Kentucky, Alabama, Mississippi, Louisiana, and Arkansas in early 2024.
Most Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Dodge | 365 | 29398 |
| Ram | 211 | 33461 |
| Jeep | 184 | 37196 |
| Chrysler | 166 | 3694 |
| Buick | 125 | 11446 |
Least Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Toyota | 38 | 75528 |
| Honda | 43 | 33148 |
| Kia | 46 | 21222 |
| Lexus | 46 | 14694 |
| BMW | 53 | 13157 |
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
This region includes Ohio, Indiana, Michigan, Illinois, Wisconsin, Iowa, Missouri, Minnesota, Kansas, Nebraska, South Dakota, and North Dakota right now.
Most Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Dodge | 354 | 13671 |
| Ram | 178 | 28066 |
| Jeep | 164 | 35543 |
| Chrysler | 142 | 4302 |
| Buick | 129 | 18753 |
Least Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Lexus | 38 | 4786 |
| Toyota | 41 | 30521 |
| Honda | 43 | 23579 |
| Cadillac | 53 | 4754 |
| BMW | 62 | 7074 |
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
In the Southwest region, we’ve included the states of Texas, Oklahoma, New Mexico, Arizona, and Nevada in early 2024.
Most Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Dodge | 361 | 16824 |
| Chrysler | 229 | 2190 |
| Ram | 188 | 21176 |
| Jeep | 178 | 20976 |
| Nissan | 123 | 30298 |
Least Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Toyota | 39 | 28338 |
| Lexus | 47 | 7636 |
| Kia | 50 | 10604 |
| Cadillac | 50 | 4032 |
| Honda | 51 | 17611 |
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
In this region, we have California, Oregon, Washington, Alaska, and Hawaii this month.
Most Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Dodge | 396 | 10698 |
| Ram | 265 | 13031 |
| Jeep | 220 | 17964 |
| Chrysler | 212 | 2496 |
| Nissan | 134 | 19606 |
Least Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Toyota | 39 | 41813 |
| Honda | 49 | 26063 |
| BMW | 50 | 11087 |
| Kia | 56 | 11823 |
| Cadillac | 58 | 2190 |
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
In the Mountain West region, we have Colorado, Utah, Wyoming, Montana, and Idaho in early 2024.
Most Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| Dodge | 352 | 1682 |
| Chrysler | 210 | 369 |
| Jeep | 199 | 6543 |
| Ram | 180 | 6723 |
| Nissan | 151 | 4845 |
Least Negotiable
| Make | Market Day Supply | Total For Sale |
|---|---|---|
| BMW | 40 | 987 |
| Toyota | 47 | 9400 |
| Honda | 57 | 3283 |
| Lexus | 57 | 1125 |
| GMC | 65 | 3221 |
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
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
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
| Make | Model | Reliability Score | Overall CR Score | Base MSRP |
|---|---|---|---|---|
| BMW | i4 | 82 | 89 | $52,200 - $69,700 |
| Nissan | Ariya | 58 | 68 | $43,190 - $60,190 |
| Lexus | RZ | 57 | 67 | $58,500 - $64,000 |
| Kia | Niro EV | 54 | 70 | $39,600 - $44,600 |
| Audi | Q4 e-tron | 54 | 72 | $49,800 - $58,200 |
| Hyundai | IONIQ 6 | 50 | 76 | $37,500 - $53,650 |
| Porsche | Taycan | 49 | 78 | $90,900 - $197,500 |
| Genesis | GV60 | 47 | 74 | $53,800 - $71,350 |
| Ford | Mustang Mach-E | 43 | 68 | $42,600 - $61,600 |
| Tesla | Model 3 | 42 | 69 | $40,240 - $53,240 |
👉 These are the best EV warranties
The Complete List: Consumer Reports EV Reliability Ratings
| Make | Model | Consumer Reports Reliability Score |
|---|---|---|
| Lexus | RZ | 57 |
| Hyundai | IONIQ 6 | 50 |
| Porsche | Taycan | 49 |
| Nissan | Ariya | 58 |
| BMW | i4 | 82 |
| BMW | iX | 29 |
| Kia | Niro EV | 54 |
| Kia | EV6 | 31 |
| Audi | Q4 e-tron | 54 |
| Toyota | bZ4X | 38 |
| Tesla | Model 3 | 42 |
| Genesis | GV60 | 47 |
| Ford | Mustang Mach-E | 43 |
| Genesis | GV70 Electric | 35 |
| Tesla | Model Y | 41 |
| Audi | Q8 e-tron | 26 |
| Ford | F-150 Lightning | 28 |
| Hyundai | IONIQ 5 | 30 |
| Lucid | Air | 7 |
| Jaguar | I-PACE | 30 |
| Honda | Prologue | 30 |
| Tesla | Model S | 35 |
| Volkswagen | ID.4 | 29 |
| Tesla | Model X | 24 |
| Mercedes-Benz | EQS SUV | 30 |
| Rivian | R1S | 9 |
| Mercedes-Benz | EQE SUV | 30 |
| Mercedes-Benz | EQE | 30 |
| Rivian | R1T | 20 |
| Mercedes-Benz | EQS | 30 |
| Polestar | Polestar 2 | 25 |
| Kia | EV9 | 42 |
| Subaru | Solterra | 38 |
| Chevrolet | Blazer EV | 5 |
CarEdge’s Take
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
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 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
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
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
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
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
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:
- Pre-negotiated Deals
- Delivered to your door
- No hidden fees or add-ons
- 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
0.9% APR for 36 months + No payments for 90 days
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
2.9% APR for 36 months
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 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 Pro: 2024 Mazda CX-90
Free Car Buying Help Is Here
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!
