You can find new car leases under $700 a month in Arizona on The Model Black by setting your ZIP code, choosing lease, and filtering the inventory to $700.
Each new car is priced as a closed-end lease estimate with Arizona tax on the payment at your city's rate and the down payment you choose, on the manufacturer's lease program where one is in effect for that car today and on a market-based estimate otherwise, so the list you get is the list of cars estimated under $700 at your profile. Below is what puts a lease under that line and what to check before you send your deal.
Every lease payment on The Model Black is a closed-end lease estimate at your profile. Each new car shows the number of monthly payments (the first due at signing), the miles per year, and the total due at signing, which includes the first payment, any cash down and the tax on it, the selling dealership's documentary fee (not a government fee; each car shows its amount), and title and registration. No security deposit is required unless you add one. Excess mileage (usually $0.25 a mile; the lessor sets the charge) and excess wear and use charges may apply at lease end. Estimate on approved credit through the lessor. Not an offer to lease.
What puts a lease under $700.
- The residual. A car the lender expects to hold value has less depreciation to pay for. Compact luxury SUVs and popular sedans often carry strong residuals.
- The factory program. Manufacturers subsidize the money factor on models they want to move that month. The Model Black prices a car on the manufacturer's program only while one is in effect for it, and the car page says whether its lease is on a factory program or a market-based estimate.
- The term and miles. 36 months at 10,000 miles a year is the common combination; 7,500 miles raises the residual and lowers the payment; 15,000 lowers it.
- Cash down and security deposits. Cash down reduces the payment but is at risk if the car is totaled. Multiple security deposits lower the money factor and come back at lease end, which is usually the better lever.
- Arizona tax. Arizona taxes each lease payment at the rate where the car is garaged, so your own city sets the monthly tax (7.8% in Chandler, 8.3% in Gilbert and Mesa, 9.1% in Phoenix); the tax on your cash down follows the selling dealership's city.
How to build the list for your city.
- Open the inventory and enter your ZIP code. Pick lease as the way every price is shown.
- Set "To $/mo" to 700. The list narrows to cars whose estimated lease payment for your ZIP, term, and miles is under $700.
- Adjust the term, miles, and cash down in the deal profile; the list reprices as you go.
- Open a car to see the total due at signing, the residual, and the money factor's source, and to compare the one-pay option.
What to check before you send your deal.
Look at the due-at-signing line, not only the monthly. A $550 payment with $5,000 down and a $700 payment with $0 down can be the same 36-month lease. Includes estimated taxes. Plus each dealership's own documentary fee (not a government fee) and government fees, due at signing. Check the mileage allowance against how you actually drive; excess miles are charged at lease end. And check the car page for the program's end date: a factory program runs through the end of its last day at the dealership, the next month's program takes over the next day, and a payment built on one program is not carried into the next unless the deal is written before it ends.
Quick answers.
Is a lease under $700 a month realistic on a luxury car in Arizona?
On many compact and mid-size luxury models, yes, with a normal down payment, especially when the manufacturer has a lease program in effect on the model. The inventory filter shows which specific cars are estimated under $700 for your ZIP right now.
Does Arizona tax a lease on the full price or on the payment?
On each payment. The monthly use tax is charged at the rate where the car is garaged (your city); the tax on your cash down is charged at the selling dealership's city rate.
Can I put nothing down and stay under $700?
Sometimes. Set cash down to $0 in the deal profile and the list reprices; multiple security deposits are a way to lower the payment without cash at risk.
Plus each dealership's own documentary fee (not a government fee), taxes, and government fees.