Q: “What is the best time of year to lease a car?”
—Neil Armstrong, Wasaga Beach, Ont.
A: Generally speaking, lease deals are attractive around Christmastime, when carmakers are likely to throw a three-month payment holiday on top of their offers—so you can clear off some credit card debt before car payments begin. Spring and early summer are also good, because that is the prime selling season, and carmakers and dealers have built up their inventories over the winter.
Surprisingly, the end of the model year, in August and September, is not usually a good time to negotiate a lease; the automakers know the car will be older by one year when it’s returned and will have lost more value, so they price accordingly.