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Mitsubishi Mirage Tops Cheapest Cars to Lease List

March 10, 2017

Photo of 2017 Mirage courtesy of Mitsubishi.
Photo of 2017 Mirage courtesy of Mitsubishi.

The Mitsubishi Mirage topped a list of the most affordable cars for retail leasing under a methodology that relies heavily on depreciation as a driver of total leasing costs.

Under the study, Growella.com ranked 100 vehicles using monthly depreciation, auto insurance and fuel costs. The study used publicaly available data and an insurance pricing engine.∃ It based the ranking on a 25-year-old female driver in a city setting with no traffic offenses, a 36-month retail lease, depreciation equal to trade-in value minus MSRP from three years ago at 15,000 miles per year, and fuel economy from FuelEconomy.gov.

The Mirage would cost $219 per month under this scenario. Monthly depreciation was set at $105.

After the Mirage, other cars on the list include the Subaru Outback ($234, $107 in depreciation), Nissan Versa ($307, $176), Subaru Impreza ($312, $187), Jeep Cherokee ($317, $164), Kia Soul ($334, $192), Hyundai Accent ($337, $208), Kia Rio ($342, $209), Toyota Corolla ($334, $214), and Mazda Mazda3 ($354, $226).

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