Average Car Lease Payments in 2026
What is the average car lease payment right now?
The average new-vehicle lease payment was $619 a month in Q1 2026, per Experian, versus $770 for the average new-vehicle loan, a $151 gap. Leases also cluster lower: 21.78% of new leases were under $400 a month against 9.11% of loans. The average is not a quote; segment averages ran from $405 for small cars to $888 for luxury vehicles.
Figures reviewed 2026-08-07 (today). Rate data is sourced per table and each table states its own reporting period.
Key takeaways
- Average new lease payment, Q1 2026: $619 a month, up $19 from a year earlier. Average new loan payment: $770.
- The lease-versus-loan gap averages $151 a month across leased models, and $95 for EVs, per Experian Q1 2026.
- 21.78% of new leases are under $400 a month; only 9.11% of new loans are. At the other end, 18.96% of new loans run $1,000 or more versus 8.71% of leases.
- Non-luxury lease payments averaged $525; luxury averaged $888. Averages are context, not quotes.
- Leasing typically undercuts the loan payment on the same car, but not always: the Tesla Model X lease averaged $442 more than its loan payment.
What is the average car lease payment?
$619 a month. That is the average new-vehicle lease payment for Q1 2026 in Experian's State of the Automotive Finance Market, the credit-file-based standard for this number. It has been climbing gently: $598 in Q1 2024, $600 in Q1 2025, $619 now, a 3.2% year-over-year rise. The average new lease runs 36.66 months, so the typical commitment is three years and change.
One number for context on how common leasing is: 24.10% of new vehicles went out on leases in Q1 2026. Roughly one new car in four.
How much cheaper is leasing than financing, per month?
$151 a month on average, across all leased models: $619 for the average lease against $770 for the average new-vehicle loan. For EVs the gap is smaller, $95. The monthly advantage is the honest core of leasing's appeal, and it varies enormously by model. Experian's model-level data, Q1 2026:
| Model | Lease payment vs loan payment |
|---|---|
| Chevrolet Silverado 1500 | lease $330/mo cheaper |
| Ford F-150 | lease $296/mo cheaper |
| Ram 1500 | lease $267/mo cheaper |
| Toyota Tacoma | lease $217/mo cheaper |
| Honda CR-V | lease $134/mo cheaper |
| Tesla Model Y | lease $80/mo cheaper |
| Tesla Model X | lease $442/mo MORE than the loan |
Keep the Model X row. It is the proof that "leasing is always cheaper per month" is a rule of thumb with exceptions, and that the comparison worth making is on the specific car in front of you, not on the average.
And a monthly gap is not a total-cost verdict. The loan payment ends in ownership; the lease payment ends in returning the car. For high-mileage drivers and people who keep cars a decade, the cheaper monthly number is very often the more expensive path in total.
What share of leases are under $400 a month?
21.78% of new leases signed in Q1 2026 came in under $400 a month. Only 9.11% of new loans did. The distributions diverge at the top too: 18.96% of new loans ran $1,000 a month or more, versus 8.71% of leases. Leasing compresses payments toward the affordable middle, which is exactly what it is designed to do, and exactly why the monthly number alone flatters it.
What do lease payments look like by segment?
| Segment | Average lease payment, Q1 2026 |
|---|---|
| Small car | $405 |
| Non-luxury average | $525 |
| Full-size van (top of non-luxury range) | $770 |
| Luxury average | $888 |
The $619 headline average blends a $405 world and an $888 world. Match your comparison to your segment before deciding anything.
Why is an average not a quote?
Because a lease payment is built from a specific program: this month's money factor for your credit tier, this model's residual, current incentives, and your region. Averages describe the market; they price nothing. The average lease credit score is 749, and advertised specials assume the top tier, so the distance between the average and your quote can be large in either direction.
For what actual programs look like right now, model by model with their expiry dates, see the live board. For the rate mechanics inside any quote you get, start with what is a money factor on a lease.
Common questions
What is the average car lease payment in 2026?
$619 a month for new-vehicle leases in Q1 2026, per Experian. That is up $19, about 3.2%, from $600 in Q1 2025, and up from $598 in Q1 2024. The average new lease term was 36.66 months.
How much cheaper is a lease than a loan per month?
$151 a month on average across leased models in Q1 2026, and $95 for EVs. The spread varies widely by model: $330 on the Chevrolet Silverado 1500 and $296 on the Ford F-150, but only $80 on the Tesla Model Y.
Can you lease a car for under $400 a month?
Commonly. 21.78% of new leases signed in Q1 2026 were under $400 a month, versus 9.11% of new loans. Small-car lease payments averaged $405. Whether a specific model gets there depends on the current program, the residual, and your credit tier.
Is leasing always cheaper per month than financing?
No. Typically, yes: the average gap was $151 a month in Q1 2026. But the same Experian data includes a counterexample, the Tesla Model X, whose lease averaged $442 more than its loan payment. Compare the two numbers on the specific car, not the rule of thumb.
What share of new cars are leased?
24.10% of new vehicles in Q1 2026, per Experian, versus 59.19% financed with loans and the rest cash or unknown. Lease share was 25.78% a year earlier and peaked around 29.5% in 2016.