How is this possible?
Lexus nearly has a complete crossover lineup in place right now, the sole exception being a large three-row CUV but we hear that's coming soon. In the meantime, sales are now underway of its latest and least expensive CUV, the all-new UX. Well, it's kind of the cheapest. Cars Direct was playing around with the lease figures and made an interesting discovery: the larger NX can actually be cheaper to lease despite having a higher base price. Here's the leasing figure breakdown:
A 2019 Lexus UX 200 can now be leased for $349 a month for 36 months with $3,999 due at signing. That really comes to $430 a month. To compare, a 2019 NX 300 is currently being advertised at $319 a month for the same time period with the same amount due at signing. Total effective cost: $460 a month.
Even the 10,000-mile yearly allowance for both vehicles is identical. Do the simple math and the larger and more expensive to buy NX is $30 less to lease per month at the moment in the Western part of the US. Other areas of the country have even larger price differences. Take Chicago, for example. There's a $60 per month difference with the UX again being more expensive. For the record, the NX costs about $4,370 more than the UX to buy outright. So what's the reason for these leasing prices? In California, at least, the reason appears to be incentives and interest rates. The UX can be leased with $1,750 in factory lease cash while the NX costs $1,500.
However, the UX has a significantly higher 4.6 percent APR compared to 1.4 percent for the NX. Given the current lease prices, perhaps it'd be better to opt for the larger and usually more expensive NX. More car. Less money. Then again, if you live in an urban area and fuel economy and ease of parking are your main priorities, the UX is still probably the better choice.