Any car salesman can tell you leasing a new car is a guaranteed good deal. The fact is, finding the best car leasing deals can be complicated. If you don’t take the time to carefully research your options now, you could end up paying too much for your lease. Once you’re armed with the proper information you can easily negotiate the best lease deal.
Learn Manufacture & Dealer Incentives on multiple makes and models of interest. Special leasing offers are usually available for a limited time. They are used to clear out slow selling models and entice consumers into the showroom. These lease deals are usually available for those with excellent credit. Learn what you qualify for before visiting the dealership.
Discover the Actual Price of the vehicles you are interested in. Knowing both MSRP and factory invoice price will give you a general idea of the dealer’s bottom-line.
Negotiate the Capitalized Cost or cap cost, this is the lease price. The cap cost will be some where between the MSRP and invoice price of the vehicle. Nail down a cap cost before you begin factoring incentives and lease specials.
Estimate Residual Value before you lease. Sometimes this is also referred to as resale value. The residual value basically tells you haw much a car will be worth at the end of your lease. The higher the residual value of the vehicle the smaller percentage of the vehicle cost you will pay over the term of your lease.
Make Sense of the Money Factor or interest-rate. Find the lowest interest rate available by shopping multiple dealers. The majority of the time a bank or credit union will offer the best lease deals.
Ignore the Monthly Payment, no matter how good the dealer makes it sound. Other than being 100% sure you can afford it, keep monthly payment amounts out of your negotiation. Dealer’s want you to pay the highest interest possible, the smaller your payment the longer your lease term, the more interest you pay!
Review the Capitalized Costs closely. Dealers must provide you with an itemized list of all costs related to your lease. Sit down with a calculator, make sure they make sense to you. Compare them to your own estimates and ask questions on any costs that appear inflated or unfair.
Compare Multiple Dealer Offers before you agree to one deal. Feel free to use competitor offers in your negotiation. They could be the push that get you the best lease deal!
Request a free lease quote today. Find the best lease deals in minutes and connect with multiple local dealers ready to offer the best leasing specials available!
