Leasing vehicles can be a fun and easy experience for any new car buyer looking for an enjoyable alternative to fully committing to buy a vehicle. Leasing a new vehicle allows you to get a feel of ownership over a car or truck without having to be stuck with that vehicle for an extended period of time.
Most lease terms are 24 months-36 months, but some dealerships offer 48 or even 60 month lease terms. It is smarter to stay within the 24-36 month timeframe though, because most manufacturer warranties don’t last longer than 36 months. Leasing a vehicle for the same amount of time that it is covered by a manufacturer’s warranty ensures that you will never have to pay a dime for maintenance costs or repair fees. This is one of the most useful techniques of a new car or truck leaser. When you fully buy a new vehicle the warranty eventually runs out, so on top of making monthly payments you also begin to have to pay for maintenance and repair fees out of your own pocket.
Seeking out current leasing prices and leasing deals in your area has never been easier. Request a free, no obligation price quote to receive the most up to date price quotes available on new vehicle leases at dealerships in your neighborhood.
Understand Lease Prices
Leasing a new vehicle is all about paying for the amount the vehicle depreciates over the term of the lease. Leasing a $20,000 car for 2 years can show depreciation in value of $4,000. So the car that was worth $20,000 brand new is now worth $16,000 to the dealership. $16,000 is considered the residual value of the vehicle. During your 24-month lease you will be responsible for paying that $4,000, along with normal interest rates and fees that come with financing a vehicle.
A great way to pay even less during your lease term is by paying attention to the dealer invoice price reported in your free, not obligation price quote. The true dealer invoice price represents the actual value of the vehicle. What most people don’t know is that you can negotiate for the initial sale price of a new vehicle when leasing it just like you can when you are buying it.
With your inside knowledge of the dealer invoice price you can negotiate for a much lower start price. Say our hypothetical car with the sticker price of $20,000 has a dealer invoice price of $18,000. You should aim to negotiate for a price as close to $18,000 as possible. So now you are paying $18,000 for a $20,000 car that has a residual value of $16,000. Instead of being responsible for paying $4,000 over the 24-month lease term you are now only responsible for $2,000!
Start your new vehicle leasing experience off on the right foot by requesting your free, no obligation price quote today. People lease vehicles for less than average everyday using our price quotes!
