Timing is just one of the keys to getting a good deal on a car lease. If you're in the market to lease a car, find out the best time to sign so you can get the best deal possible.

And if you need a car now, or prefer not to be dependent on timing, consider a FINN car subscription. With a car subscription, your monthly fee includes registration, insurance, maintenance and roadside assistance. Plus, the best rates are already reflected online. No need to search around for the best deal—do it all online in just a few clicks with FINN.

According to Kelley Blue Book, leased cars ordinarily make up a third of car sales, but in 2022, that percentage fell to under 20%. Cox Automotive (Kelley Blue Book's parent company) anticipates that leases will rise to over 20% in 2023, which is still down from the norm.

Because the average price of new cars is around $48,000, leasing might make more sense to you. CNBC reports that vehicles coming off lease from 2019 and 2020 are now worth an average of $4,000 more than predicted, so it's anticipated that the used car prices will rise when these used lease cars go into circulation at dealerships. This trend can mean the residual value will be higher for your lease, lowering your payments.

By leasing your vehicle at the right time, you could save money. Generally, there are several factors and times of the year to lease a car. Leasing a car in 2023 might be better economically than any other time. If the off-lease prices are rising now, they may continue that trend making cars more expensive.

If you’re considering a lease and have bad credit, find out if you can lease a car with bad credit.

Holidays

Everyone who watches television knows that the holidays are the time of the year when manufacturers encourage dealerships to promote sales. Toyota is famous for its annual Toyotathon sales, including deals on lease terms, low APR on retail contracts and no-cost maintenance plans.

Memorial Day weekend and the 4th of July are popular car sales holidays. Many dealerships will combine these holidays with giveaways, radio promotions, live broadcasts, and serving hot dogs, hamburgers, and wings to people who visit their dealerships.

End of the year: October through December

By the year's fourth quarter, the dealership management knows where they stand on reaching their annual goals, so this is their last push. They may be willing to negotiate with you for lower payments, lower upfront costs, and optional equipment.

• October - Everyone is excited to see the new models, so take advantage of this excitement and make a deal on a leftover model.
• November - Black Friday promotions extend beyond retail stores; many automakers also offer special leasing deals throughout November that can lead to significant savings.
• December - The end-of-year holiday season is another prime opportunity for dealerships to boost their numbers before closing out the calendar year with enticing lease specials.

Tax season 

Many people receive tax refunds in springtime, increasing their purchasing power; this could lead dealerships to offer competitive deals during this period. Dealerships often create an advertising campaign around tax refunds to boost sales from early March to mid-May.

End of the month or quarter

Dealerships typically have monthly and quarterly sales quotas that can lead to more aggressive negotiations as they strive to meet their targets. Dealers push harder during slower months when foot traffic might be lower than usual.

New model releases 

Every year, automotive manufacturers introduce new cars. Some new models have complete makeovers, while others may only have technology upgrades to safety features or infotainment options. Next year's new vehicles arrive in late summer or early fall. Dealerships are motivated to sell out their previous year's models to make room for the new ones, which means there may be incentives for leasing a prior year's model, especially if there is a body style change.

Assessing when leasing a vehicle is suitable for you involves considering your budget, family needs and individual preferences. Here are some factors that can help you determine when it's the right time for you.

• Evaluate your budget - Before leasing a car, ensure your finances are in order and you have enough money for any upfront costs or fees. Know your upfront costs like first payment, security deposit, and tag and title fees before signing the lease. Your insurance coverage must be adequate, so check your policy limits or talk to your agent about adding a leased vehicle to your policy.
• Consider seasonal factors – Not all sales and lease incentives originate from the dealership. There are times during the year when the manufacturer holds huge nationwide sales like the Toyotathon, so watch for ads across all media platforms.
• New model releases –If you're curious about when cars are coming out, check out websites like Car and Driver and Edmunds, where you'll find the first looks at new makes and models.
• Your personal needs - Consider whether now is the best time based on your current life situation and plans. Leasing might not be ideal if there's uncertainty in either area.
• Negotiation skills - Remember that negotiation plays a significant role in getting favorable terms while leasing cars, so be prepared to negotiate. Is now a good time to lease a car?

When you lease a car, you can drive the latest model for less money than a retail purchase. Credit restrictions can apply, so you may want to check out alternative options.

Here are some tips for finding the most affordable lease deals all year round:

• Shop around - Don't settle for the first offer. Prioritize comparing multiple dealerships and their lease offers. You can use online resources like Edmunds or Kelley Blue Book Lease Calculator to research current market values.
• Negotiate on price first - This helps lower your monthly payments. Remember that even though you won't own the vehicle at the end of your lease term, negotiating its purchase price will still impact your overall costs.
• Avoid paying extra fees – Check your contract for any hidden fees.
• Mileage limits - Make sure you understand mileage restrictions associated with leased vehicles. Driving over the mileage can cost you money for the mileage overage.
• Purchase option at the end of the lease - Before committing to purchase, understand the cost of buying the car at lease-end. The amount due at the end of the lease is the residual value plus any fees calculated by the leasing company.

If you're still unsure when is the best time to lease a car or do not want to wait for upcoming holidays or the end of the year, consider a FINN car subscription.

With FINN's simple and hassle-free model, just select the car you want and schedule for delivery to your doorstep. You can do this all online and get approved within minutes. No down payment is required, and all-inclusive pricing includes insurance, maintenance and roadside assistance. Learn more about car subscriptions.

The best time to lease a car depends on budget, personal needs and timing. If you're ready for a new car, but the market timing isn't right, consider a car subscription with FINN and find a vehicle that fits your lifestyle today.