Factors Affecting Lease Rates:

1. Residual Value: Cars that hold their value well often have cheaper lease rates because the depreciation cost is lower.
2. Manufacturer Subsidies: Automakers sometimes offer promotional lease rates or incentives to boost the sales of certain models.
3. Interest Rates: The money factor, akin to an interest rate in leasing, can influence monthly payments.

Factors Affecting Insurance Rates:

1. Vehicle Type: High-performance or luxury cars usually cost more to insure.
2. Safety Ratings: Cars with high safety ratings might have lower insurance rates.
3. Repair Costs: Models that are cheaper to repair can lead to lower insurance premiums.
4. Historical Claim Rates: If a certain car model is involved in more accidents or thefts, it might have a higher insurance rate.

Potential Affordable Cars for Leasing in Ontario:

1. Hyundai Elantra:
   • Description: Compact sedan with good fuel efficiency and modern tech features.
   • Average Lease Rate: Rates fluctuate but may start around $150-$250 CAD/month.
   • Average Insurance Rate Range: ~$1,200-$1,800 CAD/year.
2. Toyota Corolla:
   • Description: Reliable and fuel-efficient compact sedan.
   • Average Lease Rate: $200-$300 CAD/month.
   • Average Insurance Rate Range: ~$1,200-$1,800 CAD/year.
3. Honda Civic:
   • Description: One of Canada’s best-selling cars, known for its reliability.
   • Average Lease Rate: $200-$300 CAD/month.
   • Average Insurance Rate Range: ~$1,200-$1,900 CAD/year.
4. Kia Forte:
   • Description: Compact sedan offering a balance between performance and value.
   • Average Lease Rate: $150-$250 CAD/month.
   • Average Insurance Rate Range: ~$1,100-$1,700 CAD/year.
5. Volkswagen Jetta:
   • Description: German-engineered compact sedan with a comfortable ride.
   • Average Lease Rate: $200-$300 CAD/month.
   • Average Insurance Rate Range: ~$1,200-$1,800 CAD/year.

These are rough estimates and rates can vary based on many factors including location, driver’s history, and specific promotions. For the most up-to-date lease and insurance rates, you would need to consult local dealerships and insurance providers or check Canadian automotive websites that provide current pricing and incentives.

Subcompact and Compact Cars to Lease:

1. Toyota Yaris:
   • Description: A reliable and fuel-efficient hatchback or sedan with a reputation for longevity.
   • Average Lease Rate: Approximately $150-$230 CAD/month.
   • Average Insurance Rate Range: Roughly $1,100-$1,700 CAD/year.
2. Kia Rio:
   • Description: A stylish car with modern tech features and decent fuel efficiency.
   • Average Lease Rate: About $150-$220 CAD/month.
   • Average Insurance Rate Range: ~$1,200-$1,800 CAD/year.
3. Hyundai Accent:
   • Description: Known for its value for money and comprehensive warranty.
   • Average Lease Rate: Roughly $150-$230 CAD/month.
   • Average Insurance Rate Range: ~$1,100-$1,700 CAD/year.

Cheapest Compact Cars for Leasing in Ontario:

1. Hyundai Elantra:
   • Description: Compact sedan with good fuel efficiency, modern tech features, and comprehensive warranty.
   • Average Lease Rate: Approximately $180-$280 CAD/month.
   • Average Insurance Rate Range: ~$1,200-$1,800 CAD/year.
2. Toyota Corolla:
   • Description: A longstanding benchmark in the compact category, known for its reliability and fuel efficiency.
   • Average Lease Rate: About $200-$300 CAD/month.
   • Average Insurance Rate Range: ~$1,200-$1,800 CAD/year.
3. Kia Forte:
   • Description: Compact sedan offering a balance between performance and value with up-to-date tech.
   • Average Lease Rate: Roughly $180-$280 CAD/month.
   • Average Insurance Rate Range: ~$1,100-$1,700 CAD/year.

Cheapest Mid-size Sedans for Leasing in Ontario

1. Hyundai Sonata:
   • Description: A stylish and spacious sedan with modern tech features and a strong warranty.
   • Average Lease Rate: Approximately $230-$330 CAD/month.
   • Average Insurance Rate Range: Roughly $1,300-$1,900 CAD/year.
2. Kia Optima (or its successor Kia K5):
   • Description: Known for its sharp design, comfortable interior, and comprehensive tech features.
   • Average Lease Rate: About $240-$340 CAD/month.
   • Average Insurance Rate Range: ~$1,300-$1,900 CAD/year.
3. Toyota Camry:
   • Description: A longstanding favorite in the mid-size segment known for its reliability, fuel efficiency, and comfortable ride.
   • Average Lease Rate: Roughly $250-$350 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,000 CAD/year.
4. Honda Accord:
   • Description: A well-rounded sedan offering a balance between performance, comfort, and efficiency.
   • Average Lease Rate: Approximately $260-$360 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,000 CAD/year.
5. Mazda6:
   • Description: Emphasizing driving dynamics and an upscale interior, it’s a bit of a driver’s car in the segment.
   • Average Lease Rate: About $240-$340 CAD/month.
   • Average Insurance Rate Range: ~$1,300-$1,900 CAD/year.
6. Nissan Altima:
   • Description: A comfortable sedan with a focus on technology and safety features.
   • Average Lease Rate: Roughly $230-$330 CAD/month.
   • Average Insurance Rate Range: ~$1,300-$1,900 CAD/year.

Cheapest Mid-size SUVs for Leasing in Ontario

Compact SUVs:

1. Hyundai Tucson:
   • Description: Versatile and modern compact SUV with advanced tech features.
   • Average Lease Rate: Approximately $230-$330 CAD/month.
   • Average Insurance Rate Range: Roughly $1,300-$1,900 CAD/year.
2. Kia Sportage:
   • Description: Stylish and well-equipped, offering a solid balance of features for its price.
   • Average Lease Rate: About $220-$320 CAD/month.
   • Average Insurance Rate Range: ~$1,300-$1,900 CAD/year.
3. Honda CR-V:
   • Description: A top-seller with a reputation for reliability, spaciousness, and comfort.
   • Average Lease Rate: Roughly $270-$370 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,000 CAD/year.
4. Toyota RAV4:
   • Description: Another segment leader, known for its reliability and efficient hybrid option.
   • Average Lease Rate: About $260-$360 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,000 CAD/year.

Mid-size SUVs:

1. Hyundai Santa Fe:
   • Description: A family-friendly SUV with a spacious interior and modern amenities.
   • Average Lease Rate: Approximately $280-$380 CAD/month.
   • Average Insurance Rate Range: Roughly $1,400-$2,100 CAD/year.
2. Kia Sorento:
   • Description: Offers a third-row option, good tech, and a strong warranty.
   • Average Lease Rate: About $290-$390 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,100 CAD/year.
3. Ford Edge:
   • Description: Combines comfort, technology, and a roomy interior.
   • Average Lease Rate: Roughly $300-$400 CAD/month.
   • Average Insurance Rate Range: ~$1,500-$2,200 CAD/year.
4. Nissan Rogue:
   • Description: One of Nissan’s best-sellers, combining efficiency with a spacious interior.
   • Average Lease Rate: About $250-$350 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,000 CAD/year.

Cheapest Minivans for Leasing in Ontario

Minivans are ideal for families due to their space, practicality, and comfort. In the North American market, there are fewer minivan models compared to other vehicle categories, but they remain crucial for those needing ample passenger and cargo space. Below are some of the popular minivans that have been known for their relative affordability in leasing and insurance rates in Ontario:

1. Dodge Grand Caravan:
   • Description: A long-standing popular choice for families due to its affordability and functionality.
   • Average Lease Rate: Approximately $250-$350 CAD/month.
   • Average Insurance Rate Range: Roughly $1,400-$2,000 CAD/year.
2. Toyota Sienna:
   • Description: Notable for its reliability, it also moved to a hybrid-only lineup offering enhanced fuel efficiency.
   • Average Lease Rate: About $370-$470 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,100 CAD/year.
3. Honda Odyssey:
   • Description: Praised for its driving dynamics, advanced features, and a comfortable interior.
   • Average Lease Rate: Roughly $350-$450 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,100 CAD/year.
4. Kia Sedona (or its successor Kia Carnival):
   • Description: Offers a mix of value, features, and safety. The newer “Carnival” model focuses on luxury and tech.
   • Average Lease Rate: About $320-$420 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,100 CAD/year.
5. Chrysler Pacifica:
   • Description: Known for its upscale features and available hybrid model.
   • Average Lease Rate: Approximately $370-$470 CAD/month.
   • Average Insurance Rate Range: ~$1,500-$2,200 CAD/year.

Cheapest Hybrid/Electric Cars for Leasing in Ontario

The hybrid and electric vehicle segment has been growing rapidly as more consumers prioritize fuel efficiency, environmental concerns, and future-proofing against potential rises in fuel prices. Here’s a look at some of the more affordable hybrid and electric vehicles that have been available for leasing in Ontario:

Hybrid Cars:

1. Toyota Prius:
   • Description: Arguably the most recognizable hybrid vehicle, known for its excellent fuel efficiency and reliability.
   • Average Lease Rate: Approximately $280-$380 CAD/month.
   • Average Insurance Rate Range: Roughly $1,200-$1,800 CAD/year.
2. Honda Insight:
   • Description: A hybrid sedan that offers a good balance between performance, fuel efficiency, and affordability.
   • Average Lease Rate: About $250-$350 CAD/month.
   • Average Insurance Rate Range: ~$1,200-$1,800 CAD/year.
3. Hyundai Ioniq Hybrid:
   • Description: Known for its value and efficiency, also available in plug-in hybrid and full electric variants.
   • Average Lease Rate: Roughly $230-$330 CAD/month.
   • Average Insurance Rate Range: ~$1,100-$1,700 CAD/year.

Electric Cars:

1. Nissan Leaf:
   • Description: One of the pioneering and best-selling all-electric vehicles, offering decent range and a spacious interior.
   • Average Lease Rate: About $300-$400 CAD/month.
   • Average Insurance Rate Range: ~$1,300-$1,900 CAD/year.
2. Chevrolet Bolt EV:
   • Description: An all-electric hatchback known for its substantial range and affordability.
   • Average Lease Rate: Approximately $350-$450 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,000 CAD/year.
3. Hyundai Kona Electric:
   • Description: An electric variant of the popular Kona SUV, offering a good range and modern features.
   • Average Lease Rate: Roughly $370-$470 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,000 CAD/year.
4. Kia Soul EV:
   • Description: Electric version of the distinctive Soul, offering a combination of style, space, and range.
   • Average Lease Rate: About $360-$460 CAD/month.
   • Average Insurance Rate Range: ~$1,400-$2,000 CAD/year.

The rapidly evolving nature of the electric vehicle market, coupled with incentives and rebates that may be available, can lead to fluctuations in pricing. For current leasing and insurance rates, it would be advisable to consult with local dealerships, insurance providers, and regional automotive resources in Ontario.