Mitsubishi Lease
The average monthly cost to lease a Mitsubishi is around $400 to $430 depending on trim level, down payment, and your credit score.
Written by Amber Reed
Reviewed by Jessica Barrett
Leasing a Mitsubishi is a cost-effective way to drive a brand new car every few years—the average monthly cost to lease an Outlander is around $400 depending on trim level, down payment, and your credit score.
If you want a new car but aren’t in the position to purchase or finance one, a lease can be a handy solution. You’ll get all the perks of driving a brand new car for much less money than you would spend on a traditional car loan.
The flip side is that leasing comes with restrictions, and the process is kind of like an extended rental. Your monthly payments don’t go to paying the car off, as they cover depreciation and pay for the convenience of driving a new car at a reduced price.
If it sounds a little confusing, don’t sweat it!
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!How to lease a Mitsubishi
Leasing a new Mitsubishi is actually a pretty simple process—but before you head to the dealership, you need to do a little prep work. Make sure you have these details squared away first:
- Check your credit score. Generally speaking, you’ll need a score of at least 700 to lease a Mitsubishi. Some dealerships will work with scores in the 600s, but it will likely mean less attractive lease terms.
- Determine your monthly budget. Your car payment should make up about 15% of your monthly income. It might be a little more or less depending on your finances, but you don’t want it to total more than 20%.
- Estimate how much you can pay at signing. The vast majority of leases require down payments and acquisition fees that total a few thousand dollars.
- Calculate your annual mileage. Leases have limits on the number of miles you can drive per year—typically around 10,000 to 15,000. If you drive a lot or are planning a road trip with your new Mitsubishi, you might want to inquire about high-mileage lease options.
Now that the numbers have been crunched, it’s time to go shopping! Head to your local Mitsubishi dealer to check out their current
lease offerings
. If you’re looking for an SUV, you can consider the compact Outlander or the midsize Eclipse Cross
. Bear in mind that the dealership will try to persuade you into extra options and features. This is when it pays to have a firm budget already established. Several small upgrades can add up quickly, and you want to make sure you don’t end up with more than you budgeted for.
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Car insurance will be required as a part of your lease agreement. Most leases require full-coverage insurance, and some require
gap insurance
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How much does a Mitsubishi lease cost?
Leasing a Mitsubishi can be more economical than buying one outright, but how does that break down? The precise amount that you will pay for your lease depends on a few factors, including:
- The model you choose
- The negotiated selling price
- The length of your lease
- The financial terms of your lease (interest rate, security deposit, etc.)
- Any additional accessories or options you choose
- Sales tax in your state (if applicable)
Lease offers fluctuate depending on the time of year, where you live, and the dealership you buy from. In general, you can expect to pay about $423 monthly for a Mitsubishi Eclipse Cross and $400 for an Outlander.
But remember, there are additional costs that will be due at your lease signing. Your down payment, the acquisition fee, and any additional fees or deposits will all contribute to your upfront costs.
Let’s break down the Eclipse as an example. The monthly payment will be about $423 per month, but your total costs will include:
- First month’s payment: $423
- Down payment: $2,000
- Security deposit: $440 to $525
- Acquisition fee: $695
In all, you’ll pay around $3,600 at signing for your new Eclipse—and that doesn’t include sales tax or any additional feature you might want to add. It’s important to take into account all of the costs associated with a lease before you decide it’s a good choice for you.
Services included in a Mitsubishi lease
Mitsubishi doesn’t include maintenance in its leases. Their website doesn’t advertise any pre-paid maintenance packages, but that doesn’t necessarily mean they’re not offered. If you’re interested, inquire at your dealership to see if there are any maintenance options available.
Your Mitsubishi will likely be under warranty for the duration of your lease, but it’s still vital to
keep up with routine maintenance
. Many lease agreements require it, and there can be penalties at the end of a lease for not getting it done on schedule. Visit Mitsubishi’s
Service Overview
page for warranty information and the recommended maintenance schedule for your vehicle. Mitsubishi doesn’t advertise any lease-end protection plans on their website either, but it doesn’t hurt to ask at your dealership if there are any available options. If not, watch those dings and scratches!
Key Takeaway Mitsubishi monthly lease payments will be in the $400 range, but make sure you factor in your upfront and maintenance costs as well.
What to do when your Mitsubishi lease is up
When your time together is up, you’ll have a decision to make. If you can’t stand the thought of saying goodbye, you can purchase your Mitsubishi. Otherwise, you can return it to the dealership and lease a new one if you like.
How to return a leased Mitsubishi
If it’s time to move on, here’s the procedure:
- About 60 days before your lease ends, a Mitsubishi representative will contact you to schedule a complimentary pre-inspection. The inspection can take place at your home, office, or anywhere that’s convenient for you.
- Make any needed repairs reflected on the inspection, usually through your dealership. Make sure you keep all receipts.
- Remove all personal items and return all original equipment, key fobs, and manuals.
- Schedule a time to return your car to the dealership.
- Sign and return the odometer statement provided by the dealership, and confirm your final mileage after the return by calling 1-866-876-3022.
There will be a $350 disposition fee due upon return of your Mitsubishi. About two weeks after you return the car, you may receive an invoice for
excess wear and use
(if any).How to purchase a leased Mitsubishi
If you’ve become besties with your car, you can choose to purchase it. Contact Mitsubishi finance at 1-866-876-3022 to discuss your options. If you prefer, you can also look into getting a loan elsewhere. Often, your bank or credit union can offer competitive rates for car loans.
MORE: How to calculate a car lease payment
How to find affordable car insurance for a Mitsubishi
You have a lot of options when leasing a car, but the one thing you’ll know for sure is that you need great insurance that doesn’t break the bank. Comparison shopping with
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Is Mitsubishi leasing worth it?
It certainly can be! If you like driving new cars and aren’t the type to get attached, then leasing can be a perfect option. If you tend to keep cars for more than five years or put a lot of wear and miles on them, leasing may not be a good fit.
What’s the cheapest Mitsubishi you can lease?
It varies depending on location, options, and your credit score, but generally, the Mitsubishi Outlander is the least expensive model to lease at around $400 per month.
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