That depends on the month and on you: the price class of the car, the residual the lender sets, the amount due at signing, the term, the miles a year, your credit tier and any loyalty program you qualify for. Put your monthly budget in a request and your advisor comes back with the cars that fit it this month, each as a written quote.

Two cars with the same sticker can be far apart, because the payment depends on the residual the lender sets, the money factor, and the incentives on that model that month. Ask for a quote on the specific car.

They cost a little more in total, because the drive-off is financed over the term, and they protect you if the car is written off in the first months, because you have not paid a large sum up front for a car that is gone. If you have the cash and plan to keep the car for the whole term, paying the drive-off is slightly cheaper. We quote both, on approved credit.

Leasing is cheaper per month than financing the same new car and lets you change cars every two or three years; financing is cheaper over six or more years of ownership. Leasing makes the most sense when you drive under the mileage allowance on your quote and want a new car under warranty. The longer comparison is in our post on lease vs buy in California.

California taxes a lease on each payment rather than on the whole price of the car, so you pay sales tax only on the part of the car you use. That, and the size of the incentives in the Los Angeles market, is why so many Los Angeles drivers lease. How the tax works is in our post on California sales tax on a lease.

The exact number for any car depends on its residual, money factor and incentives that month, so ask for a quote on the specific car.