More American drivers are leasing cars in 2024 than they did in 2023 or even 2022. While there are pros and cons to every form of vehicle possession, leasing makes sense for about a quarter of U.S. drivers. After all, Experian says the average lease payment this year is trending $148 cheaper than a car loan payment. Moreover, the group says that when it comes to EV adoption, nearly half of e-motorists opt for a lease over ownership. The group recently released data revealing the cars most often leased by U.S. drivers. The data includes consumer choices up through Q2 2024. Let’s take a look.
Top 10 most leased cars in the U.S. in 2024
| Make + Model | Percentage of total leases in the U.S. |
| Honda CR-V | 2.98% |
| Tesla Model Y | 2.61% |
| Honda Civic | 2.29% |
| Ford F-150 | 2.02% |
| Chevrolet Silverado 1500 | 1.86% |
| Nissan Rogue | 1.76% |
| Chevrolet Equinox | 1.73% |
| Tesla Model 3 | 1.66% |
| Honda HR-V | 1.55% |
| Jeep Grand Cherokee | 1.52% |
Source: Experian data, Q1 and Q2 2024
SUVs dominate, but trucks and sedans hold steady with U.S. drivers, too
As someone who’s been in the auto industry for a couple of decades now, the list above is pretty much a direct reflection of consumer preference these days.
The Honda CR-V continues to win because SUVs remain the most popular vehicle class. Americans also want something reliable, comfortable, and affordable: the 2025 starts at around $30K. Edmunds estimated a total driver investment of $17,678 over a lease term for the 2024 version. You might see, then, why a driver would opt to lease over paying the full retail price plus taxes, fees, and interest on a new car loan.
The Tesla Model Y, an all-electric SUV, is currently the best-selling EV in the world. In 2023 alone, the electric automaker sold more than a million Model Ys. That was a 64% increase over 2022. Its range is extra appealing to folks wanting to go electric but fear range anxiety: it can go between 277 and 335 miles on a single charge.
When it comes to the Honda Civic and Ford F-150, these are two very different cars we often see on global best-seller lists…year, after year, after year.
It’s hard to beat the efficient practicality of the Honda Civic, a compact sedan dominating its class since its introduction as a 1973 model. The Ford F-150 strikes a similar tone for folks wanting a trusted American work truck.
After the F-150, percentages drop under 2%. We get another truck, the Chevy Silverado 1500, four SUVs, and another Tesla. To me, it’s a mixed bag of affordable and trending picks, with the Jeep thrown in for its classic American appeal.
Overall, the growing percentage of U.S. drivers going with a lease makes sense.
Along with the ever-increasing costs of driving in general, like insurance costs, we’ve reported that this year, new car retail prices are out of reach for a staggering 82% of Americans. Financial analysts worry about the number of vehicle loans touting $1000-plus monthly payments, not to mention the growing portions of car loans in default. If you’re considering a lease, be sure to understand the contract terms, including mileage limits and the downpayment required to enter a lease.
