- Base lease price: The base lease price is the starting point for your lease payments. This amount is determined by the car's MSRP (manufacturer's suggested retail price), the residual value (the expected value of the car at the end of the lease), and the interest rate.
- Lease term: The lease term is typically between 24 and 60 months. The shorter the lease term, the higher the monthly payments will be.
- Down payment: A down payment is usually required when leasing a car. The amount of the down payment can vary, but it is typically between 10% and 20% of the car's MSRP.
- Monthly payments: Monthly payments are based on the base lease price, lease term, down payment, and any applicable fees or taxes. The average monthly lease payment for a convertible can range from $300 to $500, but it can be higher or lower depending on the specific vehicle you choose.
- Additional fees: There may be additional fees associated with leasing a car, such as an acquisition fee, a disposition fee, and a security deposit. These fees can vary from dealer to dealer.
- Insurance: You will need to purchase insurance for your leased car. The cost of insurance will vary depending on your driving history, age, and the coverage options you choose.
To get an accurate estimate of how much it will cost to lease a convertible, it's best to contact a car dealership and inquire about specific models that interest you. They will be able to provide you with a detailed breakdown of the lease costs and any applicable fees.
