These have slightly higher monthly payments than the same deals with a down payment.  Whether you make a down payment or not doesn’t change the value of the deal. A good deal is still a good deal with or without a down payment.

The car companies with the $0 down lease deals are Honda, Acura, BMW on selected models/styles, and Volvo (only on C70 model). The deals are offered both with a down payment and without.

However, these deals are a little different in how they are implemented.

For example, Volvo, Honda and Acura offer their special leases as $0-$0-$0 ($0 down, $0 first month’s payment, and $0 security deposit). This means that you owe nothing at lease signing except the usual official tag and registration fees specific to your home location. Not having to pay the customary first month’s payment means you only make 35 payments on a 36 month lease.

BMW’s $0 down leases simply means you pay no down payment (cap cost reduction) but you still pay the first month’s payment, plus possible security deposit, plus any official tag and registration fees at the time of lease signing.

What’s the catch with these special limited-time leases? Nothing except that not all models and styles are offered with the special deals. If you like the models being offered, fine. If not, you’ll have to settle for a non-promotional normal lease deal.

All of the special lease deals being offered by Honda, Acura, BMW, and Volvo have been rated “Good” or “Excellent” by LeaseGuide.com.

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Toyota

Due to the recent earthquake in Japan, Toyota has reduced the number of incentives it typically offers at this time of year. However, the special leases now being offered are excellent and should be considered if you are in the market for a Toyota lease.

Be aware that Toyota has two major distributors that control all sales and promotions in ten states (Arkansas, Louisiana, Mississippi, Oklahoma, Texas, Florida, Georgia, Alabama, North Carolina & South Carolina) and that Toyota incentives can vary by region of the country.

Here are some of the current national Toyota lease incentives. All expire on July 5, 2011.

2011 Toyota Avalon – $369/month, 36 months, $1999 due at signing

2011 Toyota Camry LE – $259/month, 36 months, $0 down, $0 first month’s payment, $0 securiy deposit

2011 Toyota Corolla  LE – $169/month, 36 months, $1999 due at signing

2011 Toyota  Highlander – $359/month, 36 months, $1999 due at signing

2011 Toyota Sienna – $329/month, 36 months, $1999 due at signing

2011 Toyota Venza – $299/month, 36 months, $1999 due at signing

All these lease deals for June have been rated “Excellent” by LeaseGuide.com. If you need to understand how car leasing works and whether you are a good leasing candidate, visit LeaseGuide.com to find out.

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Because of shortages of both vehicles and parts created by the recent Japanese earthquake, automakers are not offering nearly the number of great incentives in June that we were seeing in the first months of 2011.

However lets take a look at where you can still find some good deals. Most of the deals expire on June 30, 2011. A few expire on July 5, 2011.

BMW is offering low APR interest rates (1.9%-3.9%) on the 2012 1-Series, 7-Series, X5, and X6 models. The company is also offering 0.9%-3.9% APR loan rates on 2011 models of the 3-Series, X5, Z4 7-Series, M3, 5-Series, 1-Series M, and X3. There is also a $3500 “Eco Credit” on some diesel models including the 2011 335d sedan, as well as special “Option Credits” available on many models (BMW doesn’t like to call them “rebates” — it sounds too cheap). Up to $2000 in factory-to-dealer cash is available on selected 7-Series models. Additionally, BMW is offering many excellent promotional lease deals in nearly every model line.

Chrysler has announced a few rebates and a number of low-interest loans, including 0% APR rates, across its 2011 model lines. These deals expire on August 1, 2011. Up to $1500 rebate or 0% APR loan is available on the Chrysler 200, 300, and Town & Country. 0% APR is also available on the Dodge Grand Caravan, Nitro, Avenger, Caliber, Journey, Dakota, Jeep Liberty, Compass, Patriot, and Ram trucks. Jeep Liberty has a $3000 rebate offer. Up to $3000 is also available on the Dodge Grand Caravan, Nitro, Avenger, Caliber, and Journey. There is a nice $4500 factory-to-dealer rebate on the Dodge Dakota.

Ford also has a number of 0% APR loan rates — on the 2011 Ford Ranger, Super Duty trucks, E-Series, Fiesta, Flex, Focus, Mustang, Fusion, and Taurus. Lincoln has 0% APR rate offers on the Lincoln Town Car, Navigator, MKS, MKZ, and MKT. Rebates up to $3000 are offered on the F-150 and Lincoln Town Car. Smaller rebates are offered on many other models. Large factory-to-dealer rebates are offered on the Mercury Grand Marquis ($5500), as well as the Mariner, and Milan (up to $3500).

Honda, which was seriously affected by the earthquakes in Japan is only offering a few low interest rate loans on some 2011 Acura and Honda models. The company is also offering a number of special lease deals on certain models and styles, such as the Honda Crosstour, Accord Sedan, CR-V, Odyssey, and Pilot. As you may know from reading this web site in the past, Honda lease deals are always great deals, if you like the model and style being offered. The 2011 Acura ZDX gets $2000 in factory-to-dealer cash. 

Hyundai/Kia is also in the 0% APR loan rate game with zero-percent deals on nearly every model, including both 2011 and 2010 models. In addition, there are a number of attractive rebates — $1000 on the 2011 Hyundai Santa Fe and $2500 on the 2010 Hyundai Sonata. Smaller rebates are available on other models.

Jaguar has 0% APR loan deals on the 2011 Jaguar XF, XJ, and XK.

Mitsubishi has 0% APR rates on nearly every model, including the 2012 Mitsubishi Eclipse and Eclipse Spider.

Saab is offering 0% APR rates on the 2010 and 2011 Saab 9-3 and 9-5. In addition, the 2011 9-3 and 9-5 get $3000-$4000 factory-to-dealer cash.

Toyota, also hit hard by the Japanese earthquakes, has 0% APR deals on the 2011 Toyota Camry, Tundra, Corolla, Venza, Avalon, Highlander, and Sienna. A $2500 rebate is offered on the Toyota Tundra truck, as well as up to $2500 in factory-to-dealer cash.

Volkswagen/Audi has low-interest rate deals, including a few 0% APR rates, on nearly every 2011 Audi and Volkswagen model, and the 2012 Audi A7, Volkswagen CC, and Eos.  Leftover Audi 2010 models get some very large factory-to-dealer cash, up to $9500 but averaging about $4000-$5000.

Volvo has 0% APR deals on the 2012 S60 and most 2011 models except the XC70 and XC-90 (which have 2.9% rates).

You can get free price quotes on any of the above vehicles from Edmunds.com.The quotes will automatically include any cash-back rebates or discounts that are currently available.

All the Cadillac zero-percent interest loans are for 36 months, 48 months, and 60 months.  Zero-percent loans mean you pay nothing in finance charges for the entire term of the loan, which can save you thousands of dollars in the long term, and lower your monthly payment in the short term.

In short, 0% loans are good deals, and are well worth your consideration.

If you want a longer loan (72 months), you can’t get 0% but you still get a very low interest rate, such as 1.9% or 2.9% depending on model.

Currently, the special loan deals are on selected styles of the following 2010 models:

Cadillac CTS

Cadillac DTS

Cadillac Escalade

Cadillac STS

Additionally, Cadillac is offering dealers a special form of factory-to-dealer rebate, sometimes called dealer cash. This is “secret” money given the dealer to help promote, advertise, and discount his vehicles to help improve sales. Normally, most, if not all, of this money ends up in customers’ pockets as a price discount. The amount of the dealer cash on the affected models are in the range of $2000-$3000 per vehicle.

As we read it, there are no restrictions on the dealer cash incentive being used in combination with the 0% APR loans (and low-interest loans) discussed above. In other words, you should be able to get both.

In addition to the dealer cash that comes from the manufacturer (General Motors), you should also be able to negotiate some additional price concessions from the dealer himself.  All combined, low interest rates, dealer cash, and dealer discounts should make June a good month to buy a Cadillac.

You can get free price quotes on any of the above Cadillac cars from Edmunds.com.The quotes will automatically include any cash-back rebates or discounts that are currently available.

BMW

The low-interest loans are structured a little odd but are nevertheless interesting and worth considering. For example, on the BMW 335i xDrive, you can get 0.9% APR for 24 months or 2.9% APR for 72 months – or 1.9% APR for 72 months if you have owned/leased a BMW vehicle in the last 12 months. Similar low-interest rates are available on many other models and styles.

Many 2010 BMW models get special lease deals. These include the 1-Series, 3-Series, 5-Series, 6-Series, 7-Series, X3, X5, X6, and Z4. Note that there are no special leases being offered on new 2011 models. However, you can negotiate your own lease deal — if you understand how leasing works. If not, we recommend you visit LeaseGuide.com.

The BMW special car leases are genuinely good deals. The company has reduced the price (capitalized cost) on which the lease is based, has reduced the interest rate (money factor), and boosted the lease-end residual value. When combined, these factors create a low monthly lease payment for that vehicle. You would not be able to negotiate the same terms on your own.

BMW is also offering “Owner Loyalty Bonus Cash” on selected models, for customers who have previously leased a BMW and now want to lease again. The amount is typically $1500.

Finally, BMW the manufacturer, is providing dealers a form of factory-to-dealer rebate that they call “Build-Out Cash” on many models and styles. This money can be used by dealers to promote sales or provide price discounts to customers — which is typically what happens. When you accept one of those nice lease deals, for example, one of the reasons for the low monthly payment is that the lease price has been reduced by the “build-out cash.” Or if you are buying and it looks like the dealer is giving you the shirt off his back, he’s only passing along his “build-out cash” to you. 

Build-out cash can be very significant, especially on higher priced BMW models. For example, the 2010 BMW Z4 gets $3500. The 2010 BMW 5-Series gets $6000.  And the 2010 BMW 6-Series gets a whopping $10,000! That’s a nice price discount on a nice car.

You can get free price quotes on any of the above BMW vehicles from Edmunds.com.The quotes will automatically include any cash-back rebates or discounts that are currently available.

It also appears that GM wants to take advantage of Toyota’s recent problems, hoping they can convince some Toyota and Lexus owners/leasers to switch over. For most models, they are offering a $1000 bonus rebate to switchers.

Let’s take a look at some of the best Chevrolet deals for June. All the deals are for 2010 model cars except where noted otherwise, and the deals expire on June 30, 2010.

Chevrolet Impala – $3000 customer rebate + $1000 bonus for current Toyota/Lexus owners/leasers — and 3.9% APR loan rate that can be combined with the rebates — or 0% APR loan rate that cannot be combined with the rebates — or $199 a month special lease, 39 months, 10K miles per year, $2119 due at signing — or $299 a month lease, 39 months, 12K miles per year, $2869 due at signing

Chevrolet Cobalt coupe – $3000 customer rebate + $1000 for customers who finance through GMAC at standard rates + $1000 for current Toyota/Lexus owners/leasers — and 3.9% APR loan rate that can be combined with $3000 rebate — or 0% APR loan rate than cannot be combined with $3000 rebate — or $179 a month special lease, $2469 due at signing, 39 months, 12K miles per year . Other styles of the Cobalt get $3000 factory-to-dealer cash (which typically is given back to customers as a price discount) + $1000 for financing through GMAC at standard loan rates.

Chevrolet Silverado 1500 – $4500-$5000 customer rebate + $1000 to current Toyota/Lexus owners/leasers — or 0% APR loan rate for 36/48/60/72 months — or $299 a month lease (Reg Cab 2WD), $2199 due at signing, 39 months

Chevrolet Traverse - $2000 customer rebate + $1000 to current Toyota/Lexus owners/leasers — or 0% APR loan rate for 36/48/60 months — or $299 a month lease (LS model), $3449 due at signing, 39 months

Chevrolet Aveo – $2500 customer rebate + $1000 to current Toyota/Lexus owners/leasers – or 3.9% APR loan rate for 36/48/60 months. Some Aveo styles get the above $2500 rebate but other styles get a $2500 factory-to-dealer rebate, which typically is given back to the customer as a price discount.

You can get free price quotes on any of the above Chevrolet models from Edmunds.com.The quotes will automatically include any cash-back rebates or discounts that are currently available.

The deals are in the form of low-interest loans (although no 0% loans this month), a few special low-payment lease deals, and some healthy factory-to-dealer cash incentives (that usually end up being given back to customers as price discounts).

Honda’s incentives are all for 2010 model cars, except where noted, and the deals expire on July 6, 2010. All lease deals are for 36 months, 36K miles.

Before we list the current Honda deals we remind you that the lease deals listed below are all genuinely good deals. Typically, they only offer these special deals on a selected few models and styles. But if you like any of those models and styles,you can get a great deal. We also want to remind you that if you don’t understand how leasing works and how to determine if leasing is right for you, you should visit LeaseGuide.com to learn. 

Here are the Honda deals for June 2010:

Honda Accord – 0.9% APR loan for 24/36 months, 1.9% for 60 months — or $199 a month lease (LX sedan), $1999 due at signing — or $219 a month (LX coupe), $2599 due at signing — and $1200 factory-to-dealer cash

Honda Civic – 0.9% APR loan for 24/36 months, 1.9% for 60 months — or $169 a month lease (LX sedan), $1799 due at signing — or $159 a month (DX-VP model), $1399 due at signing — and $1000 factory-to-dealer cash

Honda CR-V – 1.9% APR loan for 24/36 months, 2.9% for 60 months — or $249 a month lease (LX model), $1999 due at signing

Honda Odyssey – 1.9% APR loan for 24/36 months, 2.9% for 60 months — or $249 a month lease (LX model), $1999 due at signing — and $1500 factory-to-dealer cash

Honda Fit – $149 a month lease, $2399 due at signing

2011 Honda Pilot – 1.9% APR loan for 24/36 months, 2.9% for 60 months — or $309 a month lease, $2999 due at signing

Edmunds.com.The quotes will automatically include any cash-back rebates or discounts that are currently available.

You can get free price quotes on any of the above Honda vehicles from

We don’t have a crystal ball and car manufacturers don’t pre-announce upcoming car programs and incentives but we can make some pretty good guesses based on our experience in the business.

As you might know, the current round of May 2010 incentives ends on June 1. That means any new programs will be announced sometime after that date. Nobody knows just what new programs will be announced. Car manufacturers don’t even tell their dealers in advance.

Our guess is that June 2010 incentives will not be as good as some of the more recent programs. Most car makers blew it out in March and April, which created a couple of the best car sales months in years. However, they backed off in May and we expect to see some additional reductions in June. In fact, we may not see any more outstanding incentives until the fall buying season.

Does that mean we won’t see any good deals at all in June and during the summer? Of course not. There will always be some great deals being offered. It just won’t be on as many models and styles. And some manufacturers will be more agreessive than others.

Look for Toyota to continue offering attractive incentives just as it has for the last few months as it attempts to pull out of the sales slump created by its recent technical problems.

Also look for Toyota’s competitors to be actively attempting to get some of those customers  —  Honda, Nissan, and Mazda in particular.

Look for special lease deals to be plentiful in June. Car leasing is coming back strong after a two-year slump, particularly with non-American car brands.

Although rebates won’t be as large in June for this year’s models, look for especially heavy rebates on leftover 2009 models.

Finally, 0% APR loans will be more popular than rebates with car makers this summer. The reason is that with a rebate, they lose money immediately but with a 0% loan they lose money more slowly.

In summary, June 2010 car deals won’t be quite as good, overall, as in the last three months, but that doesn’t mean you can’t still get a good deal. You’ll have to watch for deals a little more closely and maybe hone up on your negotiating skills.