Average auto lease rates in Michigan

The average auto lease rate is one of the most important things that should be considered before leasing a vehicle. Just like car loans, lease rates vary according to one’s income, credit record, the lease term, and the model of the car. In addition to this, rates may also change depending on the area where the lease is obtained. The state of Michigan for example has lease rates that greatly vary and most of the time on a daily basis. Although the rates for leasing a vehicle in Michigan usually vary, here are some of the possible payments tied to a specific automobile.

Average rate for SUVs

The lease rates for SUVs in Michigan vary from day to day. However, if are going to lease a popular SUV brand and make such as the 2011 Jeep Grand Cherokee you would probably be offered with the average monthly payment of about $299 for a loan term that usually last for 36 months or three years. The usual down payment required before signing the lease agreement for the 2011 Jeep Grand Cherokee would be $2700.

Average rate for Crossovers

Leasing a crossover vehicle in Michigan can be cheaper compared to leasing an SUV.  Obtaining a car lease for a 2011 Honda CR-V for example might cost you around $2000 for the down payment. The usual lease term covers 36 months and with this deal you would be paying $210 per month. This rate is obviously lower compared to the payments involved for an SUV lease.

2011 Ford Escape

In the state of Michigan, most of Ford lease deals are offered by the Southeast Michigan Ford Dealers. They offer lease options for the 2011 Ford Escape which usually last for 27 months. This lease option requires you to pay a $2,202 down payment. As soon as the down payment is provided you would be paying monthly premiums of about $249.

Given these rates, you might be able to choose the type of vehicle that you would be leasing. The average expenses involved for each vehicle type would probably provide you an idea as to which of these suits your personal budget for a lease.

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