Car Lease Deals in Canada for May 2026

Shopping around for a new car? There are plenty of great car lease deals available to help you get your new set of wheels for less.

In this guide, we’ll explore the lowest lease rates in Canada and how you can find the best lease deals.

What are the lowest lease rates in Canada?

If you’re searching for the best lease deals in Canada, here are some of the lowest lease rates currently available from the following popular manufacturers:

• Audi: 2025 Q5 TFSI quattro: 0.48% for up to 48 months
• Cadillac: 2026 LYRIQ-V: 1.90% for 48 months
• Chevrolet: 2026 Silverado 1500: 1.90% for 27 months
• Ford: 2026 F-150 STX: 0% for 36 months
• GMC: 2026 Sierra 1500: 1.90% for 24 months
• Honda: 2026 Civic Sport: From 1.99% for up to 24 months
• Honda: 2026 CR-V TrailSport Hybrid: From 2.39% for up to 24 months
• Nissan: 2026 Kicks S: 2.40% for 60 months
• Nissan: 2026 Rogue S: 0% for 36 months
• Subaru: 2026 Crosstrek Convenience: From 1.49% for 24 months

Alternative: Get car financing

Quick Pre-Approval

Go to site

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• Rates from 3.90% - 29.90%
• Borrow $500 - $75,000
• Loan terms from 12 - 96 months
• Get matched with offers

0% Financing

Go to site

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• Rates from 0% - 35.00%
• Borrow $3,000 - $50,000
• Loan terms from 3-60 months
• Get matched with offers

Used Cars

Go to site

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• Rates from 7.99%
• Borrow from $7,500
• Ontario online dealer
• Competitive vehicle prices

Current car lease deals in Canada

Refer to the table below for details on current lease deals in Canada offered by well-known manufacturers.

Offers last verified on May 4, 2026, and expire on June 1, 2026 (where an expiration date is disclosed). Offers are on approved credit, vary by province and region and may have other conditions.

What are the current SUV lease deals?

SUV lease deals are currently available on the following models:

• 2026 Buick Encore GX: 3.90% for 48 months
• 2026 Buick Envista: 3.90% for 48 months
• 2026 Cadillac LYRIQ-V: 1.90% for 48 months
• 2026 Cadillac OPTIQ: 3.90% for 36 months
• 2026 Ford Escape Plug-in Hybrid: $92/week for 60 months (available May 1–12, May 28–Jun 1, 2026)
• 2026 Honda CR-V TrailSport Hybrid: From 2.39% for up to 24 months
• 2026 Hyundai KONA Essential FWD: 5.09% for 60 months
• 2026 Hyundai Tucson Preferred AWD: 4.49% for 60 months
• 2026 Kia Sportage LX AWD: 5.19% for 36 months
• 2026 Kia Seltos LX FWD: 5.49% for 36 months
• 2026 Mazda CX-5 GX: 3.99% for 36 months
• 2026 Nissan Rogue S: 0% for 36 months
• 2026 Nissan Kicks S: 2.40% for 60 months
• 2026 Subaru Crosstrek Convenience: From 1.49% for 24 months
• 2026 Tesla Model Y: Approx. $682/month for 24 months
• 2026 Volkswagen Tiguan Trendline: 3.49% for 48 months
• 2026 Volkswagen Atlas Cross Sport Comfortline: 3.49% for 51 months

It’s also worth noting that there are some electric and hybrid lease deals currently available. You can find these listed in the “current EV lease deals” section.

What are the current EV lease deals?

EV lease deals in Canada are currently available on the following electric and hybrid models (including mild hybrids):

• 2026 Cadillac LYRIQ-V: 1.90% for 48 months
• 2026 Cadillac OPTIQ: 3.90% for 36 months
• 2026 Ford Escape Plug-in Hybrid: $92/week for 60 months (available May 1–12, May 28–Jun 1, 2026)
• 2026 Honda CR-V TrailSport Hybrid: From 2.39% for up to 24 months
• Tesla Model 3: Approx. $603/month for 24 months
• 2026 Tesla Model Y: Approx. $682/month for 24 months

What are the best truck lease deals?

Searching for the best truck lease deals with $0 down? While down payment requirements vary depending on the offer, some of the lowest truck lease deals can currently be found on the following models.

• 2026 Chevrolet Silverado 1500: 1.90% for 24 months
• 2026 Ford F-150 STX: 0% for 36 months
• 2026 GMC Sierra 1500: 1.90% for 24 months

Lease rates vs financing rates: What’s the difference?

Car leasing interest rates usually tend to be slightly higher than car loan interest rates. But that’s not always the case—compare the latest offers for a specific make and model, and you may find a lower APR if you lease a vehicle rather than finance it. For example, at the time of writing, you could finance a 2026 Trailsport Hybrid e-CVT with a 4.79% APR and an 60-month term, but a 60-month lease was being offered with a 4.39% APR.

There are several factors that affect the interest rate you get, including the purchase price and the car’s value once the lease term ends, the lease term and your credit score. Leasing and financing offers can also vary depending on where you live and on which specific models manufacturers and dealers are trying to move, so it pays to shop around to find the lowest lease rates in Canada.

When leasing makes sense

Consider leasing a car if:

• You like driving new vehicles. Leasing gives you the flexibility to regularly upgrade to a new vehicle with the latest tech and safety features. This means you’re not tied down to one vehicle for the long term, so you can switch models as your needs change.
• You want a more manageable monthly payment. A monthly lease payment will usually be lower than a monthly car loan payment. Rather than paying off the full sticker price of the vehicle, you pay to use the car and cover the cost of depreciation.
• You don’t want to pay a lot upfront. You don’t have to part with a big chunk of cash straight away, which you would have to do for a car loan down payment or to buy the vehicle outright.
• You can meet the terms and conditions. Leases often come with mileage limits and fees for excess wear and tear. So if you don’t drive long distances and you don’t plan to be too harsh on the vehicle, leasing might be right for you.
• You want maintenance included. Some leases cover the cost of routine maintenance. And because you switch to a new vehicle and lease every few years, it may be possible to avoid the higher maintenance costs associated with long-term car ownership—any problems that do arise should be covered under warranty.
• You want tax deductions. You may be entitled to claim your lease payments as tax deductions if you use the vehicle for business purposes.

When leasing may not be right for you

Leasing might not be suitable for you if:

• You want to own the vehicle. Most leases have terms of three or four years, but you don’t own the vehicle when the term ends. With a car loan, you own the car outright once you pay off the loan.
• You don’t want to be constantly making payments. Once you pay off your car loan, you don’t have to budget for monthly payments. If you’re leasing, you always have the pressure of payments hanging over your head.
• You drive a lot. If you cover big distances on a regular basis, the mileage restrictions on leases may not suit your needs.
• You want to modify your car. Want to tint the windows, tweak the engine or fit bigger wheels? You can’t typically do that on a leased vehicle.
• You want to save money in the long run. Financing a car, paying it off and owning it for the long term will eventually work out to be cheaper than leasing a new car every few years.

If you’re not sure whether leasing or financing is right for you, the Government of Canada’s Vehicle Lease or Loan Calculator is a useful tool to help you add up the cost of each option.

How to make sure you’re getting the best lease deal

These simple tips could help you qualify for a better deal on your next car lease.

• Compare your options. Compare lease offers across various makes and models to check what’s available. You can also shop around at multiple dealerships to find the best deal for your specific requirements.
• Improve your credit score. Paying down existing debts will reduce your credit utilization and potentially boost your credit score, helping you qualify for a lower interest rate.
• Look for special offers. Keep an eye out for the latest leasing offers from your favourite manufacturers, as deals are updated regularly. You may also be able to find a good deal towards the end of the year, when dealers are keen to clear space on showroom floors for new-model vehicles. And if you love a particular car brand, you may be able to take advantage of any interest rate reduction loyalty bonuses.
• Consider resale value. The cost of your monthly lease payment is in part based on the difference between the vehicle’s purchase price and its estimated value at the end of the lease. That’s why it’s a good idea to use resources like the Canadian Black Book to look for manufacturers and models that tend to hold their value well. You can also look at the J.D. Power 2025 U.S. ALG Residual Value Awards, which named Lexus as the best premium brand for residual value and Honda as the best mass market brand.
• Read the fine print. It goes without saying, but take your time to review the lease agreement carefully before signing. Make sure you’re aware of what your monthly payment will be, how long the lease is and what fees apply.

Bottom line

There are plenty of competitive car lease deals available if you’re willing to shop around. Compare quotes and special offers to find the lowest lease rates in Canada, but make sure to consider the pros and cons of leasing vs financing before deciding on the most effective way to get behind the wheel of your next car.

Frequently asked questions

• Does the Tesla Model 3 have a lease deal?

  Tesla has offered lease deals for the Model 3. Generally, lease deals are updated regularly and vary depending on where you live and the specific vehicle you want to buy, so you'll need to visit the Tesla Canada website to get a quote.

• What are the best car lease deals in Ontario?

  As of May 2026, some of the best car lease deals on offer in Ontario include:

  • 2025 Audi Q5 TFSI quattro: 0.48% for up to 48 months
  • 2026 Ford F-150 STX: 0% for 36 months
  • 2026 Nissan Rogue S: 0% for 36 months
  • 2026 Subaru Crosstrek Convenience: From 1.49% for 24 months

  However, car lease deals are updated regularly, and this is not an exhaustive list of offers, so shop around to find the lowest lease rates from dealerships near you.

• Which brands have lease deals this month?

  Most major manufacturers offer car lease deals in Canada each month. Visit the offers section of a car maker's website to find out about the lowest lease rates currently available.

To make sure you get accurate and helpful information, this guide has been edited by Leanne Escobal as part of our fact-checking process.

Written by

Tim Falk

Writer

Tim Falk is a freelance writer for Finder. Over the course of his 20-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio

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