If you had to pick between a 2022 Chevrolet Camaro with a V8 and a Honda Accord, which one would you choose? In terms of practicality and fuel efficiency, the Honda Accord would be the clear winner. But what if we told you that it’s actually cheaper to lease a Camaro with a V8 than it is to lease a base Accord LX right now? Would you change your mind?
How much does it cost to lease a 2022 Chevrolet Camaro with a V8 engine?
According to the latest dealer bulletin from General Motors, customers can lease a 2022 Chevrolet Camaro LT1 with a V8 for $249 per month for 39 months. However, it is a low-mileage lease that allows for up to 10,000 miles per year and it requires $4,609 at lease signing.
It should be noted that this lease deal includes a Lease Loyalty/Conquest Bonus of $1,500. That means that anyone looking to take advantage has to be an existing Chevy lessee or a lessee of a competing brand’s 2017-model-year or newer vehicle.
Either way, it’s an amazing deal for a sports coupe with 455 hp and 455 lb-ft of torque, a rear-wheel drivetrain, and an MSRP of $36,790.
How much does it cost to lease a 2022 Honda Accord?
Cars Direct reports that Honda released a dealer bulletin showing a lease deal for the 2022 Honda Accord LX. While you might think that this particular lease deal would be far cheaper than that of the Camaro, you would be wrong. The current lease deal for the Accord LX is $299 per month for 36 months with $3,899 due at signing.
Just like the Camaro lease, this Accord deal is a low-mileage lease that allows for 10,000 miles per year. It also carries an MSRP of $27,615, which is almost $10,000 cheaper than the Camaro.
Which lease deal is better?
The 2022 Camaro LT1 lease deal is technically better than the one for the Accord. Although it does require the loyalty/conquest stipulation, it’s still a good deal without It considering how much of a car you get. Cars Direct also pointed out that the Camaro has a residual value of 62% after 39 months, which means that it could be a good deal if you plan to buy out the lease after the term.
By comparison, the Honda Accord LX surprisingly has a 59% residual value after three years, but it would still be a decent deal if chose to buy it out in the end. Also, if leasing isn’t your thing, then Chevy is offering a 1.9% financing rate for up to 60 months (on approved credit if you would rather buy it. Honda also has a competitive financing rate of 2.9% for 48 months for the Accord for well-qualified buyers.
So, which one would you choose? Keep in mind that gas prices are at an all-time high nationwide, so filling up the Camaro wouldn’t come cheap. But then again, can you really put a price – or a special lease deal – on that much fun? Probably not.
Anyone looking to take advantage of either of these deals should act quickly as they are only good for this month. Also, your prices and availability may vary depending on the region that you’re shopping in.