CINCINNATI — The latest monthly report from new lease marketplace Wantalease.com finds steady month-over-month pricing for most models and big price hikes for several others, led by the Cadillac Escalade.
Heading into September, the average monthly lease payment for a 2019 Cadillac Escalade had increased by $327 from August, bringing its monthly payment to $799 per month. The spike follows the expiration of an $8,000 purchase-only rebate offered by General Motors in the wake of an underwhelming Q2 sales report.
The only vehicle priced higher than the Escalade is the BMW X5, which is priced at $949 per month, and increased by 5.8% from August to September. Other notable price hikes include the Ford Expedition (4.3%), Cadillac CTS (1.9%), and Subaru Legacy (3.5%).
“We anticipate that manufacturers who seem to be holding steady on new lease prices will begin considering payment changes and incentives in the upcoming months,” said Scot Hall, executive vice president of Wantalease.com. “Manufacturers know the biggest shopping holidays for the year are quickly approaching, as are end-of-year rollouts for 2020 release models.”