Car leasing is becoming more popular than ever due to some of the best car lease specials we’ve seen in years. With a little research you too can find the best car leasing deals online in minutes. Complete the following four steps and be confident you’ve found the best lease deal for the car you want.
Step 1: Select High Residual Value Vehicles
It’s always best to start your search with a few options. Check out a few models that you may have not initially considered, perhaps you’ll find a better deal than you expected.
Look for vehicles with high residual value. Residual value is just the percentage of value a vehicle retains after the lease. Expressed in percentages, the higher the residual value, the smaller percentage you’ll be required to pay. An ideal vehicle to lease would be one that retains at least 50% of its value after 24 months.
Remember value begins to depreciate rapidly after two years.
Step 2: Locate New Car Lease Deals
Manufacturers and dealers often advertise excellent leasing offers. These kinds of leasing specials are easy to find, just keep an eye open when reading the news, online, or watching television.
Though these lease deals are only available to qualified consumers, they can be some of the best bargains available. If your credit score is less than perfect consider taking steps to improve your rating before leasing in order to take advantage of these kind of lease specials.
Step 3: Gather Information
Research the MSRP and factory invoice price of a few of your favorite vehicles. Again, keeping your options open will allow you to find the best leasing deals possible. Find out current incentives and leasing specials. Finally, learn the value of your trade-in.
Experts recommend taking notes or printing out all information for reference during the negotiating process.
Step 4: Negotiate the Best Deal
Start by contacting multiple dealerships, tell them exactly what you want to lease and request an offer. Doing so by phone or email will allow you to carefully review each leasing offer before making a decision.
Dealers often try to entice consumers with low car lease payments. Remind the dealer that you are interested in setting a price first. Choosing a lease based on low monthly payments will increase the amount you’re likely to pay in the long run, spoiling the deal.
Feel free to leverage competitor offers to gain an advantage. Nothing is likely to get a dealer to drop his price like the prospect of getting beat out by the competition.
Once a price has been agreed upon, request an itemize list of all lease charges including taxes and fees. Review each offer, ask questions if anything is unclear. Once you’ve selected the best offer, just visit the dealership, sign the contract and drive home knowing you’ve landed the best deal.
Request a free lease quote today and gain access to all the information you need to get the best lease deal available!
