Negotiating a lease car deal is not as complex as it may seem. Car dealers have the ability to change multiple aspects of the lease – even if they make it sound like they cannot. An educated shopper can easily find all the information needed to get the best lease car deal possible. Follow these 6 steps and find out how much you can save on your next lease!
Step 1: Set a Price – It is important to determine how much you want to pay before you begin shopping for a lease. Estimate a monthly payment that would work for you and multiply it by the lease term you are interested in. Use this figure to negotiate the cost of your lease.
Step 2: Vehicle Shopping – Consider your needs. Leasing provides an opportunity to drive a vehicle that may be out of your price range to purchase. Compare prices between brands, you may find a better leasing deal for a vehicle you did not originally consider. Select the exact vehicle you want, as you can not modify a leased vehicle.
Step 3: Pay Below MSRP – The MSRP or sticker price is the suggested retail price for the vehicle, not what the dealer paid. Learn the factory invoice price of the vehicle you’re interested, this will be closer to what the dealer paid. Negotiate up from the invoice price aiming to pay less than MSRP.
Step 4: Negotiate Total Costs – Avoid discussing monthly payment amounts with the dealer. Instead concentrate on the complete cost of the vehicle you want to lease, followed by the complete cost of the lease. Telling the dealer how much you can afford monthly will only end up getting you stuck with a bad lease deal.
Step 5: Factor in Discounts – After you have agreed on a complete cost for the vehicle factor in any discounts such as rebates, incentives and leasing specials. These are bonus savings and should not deducted until a price has been agreed on.
Step 6: Review & Compare – Once you have completed the negoitaiton process, the dealer will provide you with an itemized list with the total cost of your lease including fees and taxes. Review this list closely, take home and think it over if you need. Request offers from other dealerships to compare, even use these offers to force the dealer to lower the price further.
It is important to remember you are in complete control of your lease negotiation. Feel free to walk away at any time. Don’t allow yourself to be pressured, stressed or hassled into a deal that doesn’t work for you. Remember it’s your money!
Request a free lease price quote and find the best lease deals in your area today! Learn all you need to negotiate the lowest lease price possible – save time and money!