Top 10 Cheapest Car Leases in Canada (2025)
Looking for affordable lease options? Check our complete leasing guide to
understand how leasing works, or explore lease takeover options to save even
more.
1. Nissan Versa - Starting at $189/month
- Monthly Payment: $189-$249
- Down Payment: $0-$1,000
- Why Choose: Most affordable new car lease in Canada
- Best For: Budget-conscious commuters
2. Mitsubishi Mirage - Starting at $199/month
- Monthly Payment: $199-$259
- Down Payment: $0-$1,000
- Why Choose: Excellent fuel economy
- Best For: City driving
3. Hyundai Accent - Starting at $209/month
- Monthly Payment: $209-$279
- Down Payment: $0-$1,500
- Why Choose: 5-year warranty included
- Best For: Reliability on a budget
4. Kia Rio - Starting at $219/month
- Monthly Payment: $219-$289
- Down Payment: $0-$1,500
- Why Choose: Sporty design, long warranty
- Best For: Young professionals
5. Chevrolet Spark - Starting at
$229/month
- Monthly Payment: $229-$299
- Down Payment: $0-$1,000
- Why Choose: Easy to park, great for cities like Toronto
- Best For: Urban dwellers
6. Toyota Corolla - Starting at $259/month
- Monthly Payment: $259-$349
- Down Payment: $0-$2,000
- Why Choose: Best resale value, ultra-reliable
- Best For: Long-term value
7. Honda Civic - Starting at $269/month
- Monthly Payment: $269-$379
- Down Payment: $0-$2,000
- Why Choose: Top safety ratings. See Toronto deals
- Best For: Families
8. Mazda3 - Starting at $279/month
- Monthly Payment: $279-$389
- Down Payment: $0-$2,000
- Why Choose: Premium feel at economy price
- Best For: Style-conscious buyers
9. Nissan LEAF (Electric) - Starting at $289/month
- Monthly Payment: $289-$399
- Down Payment: $0-$2,500
- Government Incentives: Up to $5,000 federal + provincial. Learn more about EV leasing
- Why Choose: Zero gas costs
- Best For: Eco-friendly commuters in Vancouver or Montreal
10. Hyundai Elantra - Starting at $299/month
- Monthly Payment: $299-$399
- Down Payment: $0-$2,000
- Why Choose: Loaded with features
- Best For: Tech lovers
How to Get the Cheapest Lease Deal
- Time Your Lease Right: Best deals in December, March, June, September. Check Toronto specials
- Negotiate the Cap Cost: Don't just focus on monthly payment. Read our leasing guide for tips
- Consider Lease Takeovers: Save 30-50% by taking over someone's lease. See our
transfer guide
- Put Less Money Down: $0-$1,000 is ideal (protect your investment)
- Watch for Manufacturer Incentives: Check monthly lease specials
- Compare Multiple Brands: Explore Ford, Toyota,
and Honda
Lease vs Buy - Which is Cheaper?
| Factor |
Leasing |
Buying (Finance) |
| Monthly Payment |
$189-$400 |
$400-$700 |
| Down Payment |
$0-$2,000 |
$2,000-$5,000 |
| Term Length |
24-48 months |
48-84 months |
| Ownership |
Return or buy at end |
You own it |
Save Even More with Lease Takeovers
Instead of leasing new, consider taking over someone else's lease. You can save big in cities like Toronto, Calgary, and Ottawa:
- No down payment required
- Skip lease acquisition fees ($500-$1,000)
- Often includes cash incentives from seller
- Shorter commitment (take over remaining months). See our lease transfer
guide
Find Cheap Lease Takeovers Near You
Browse hundreds of affordable lease takeover listings across Canada. Many under $300/month! Check
brands like BMW and Mercedes-Benz too.
Browse Cheap Leases