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Top North Dakota Car Lease Deals
The top car leasing deals of a lifetime are occurring at dealerships all across North Dakota. In an effort to boost sales dealerships in Bismarck, Fargo, Grand Forks, and more are offering never before seen deals on new car and truck leases.
There has never been a better time to lease a new vehicle in North Dakota and we have the top tips to help you learn how to negotiate for even lower prices than the ones already being offered!
As you know leasing is a different way of driving a new vehicle without actually having to fully buy it. You “own” the new car or truck for the length of your lease term and then return it to the dealership, no strings attached.
Leasing offers lower monthly payments as you are only responsible for paying the dealership the amount that the vehicle depreciates over the term of the lease. If you learn to negotiate the right way, you can save even more money. Let’s take a look at an example that illustrates how fine tuning your negotiating skills can help you save even more on a lease in North Dakota.
Imagine you go to your local dealership to lease the new car or truck that best suites your needs. The price of the vehicle is $20,000 and you lease it for 36 months. Over the lease term of 36 months it is determined that the vehicle will depreciate in value of $5,000, leaving it with a Residual Value of $15,000. When the salesman draws up your leasing contract you will be responsible for paying this $5,000 over the course of 36 months, as well as any taxes and fees associated, which in most North Dakota cities is 5%.
Now in this same scenario let’s see what will happen if you negotiate with the salesman.
Lease prices are fully negotiable. That $20,000 price tag is not set in stone and more likely than not, it does not represent the true value of the car. You sit down with the salesman and are able to negotiate for a price of $18,500, saving $1,500 off the original asking price. That’s great, but here is the best part- the Residual Value is still the same. Regardless of what you end up paying, the depreciation affects the price that the dealership was asking for in the first place. Now, instead of having to pay $5,000 over the 36 month lease term, you only have to pay $3,500.
The key to negotiating is knowing the true value of the new car or truck so that you don’t buy into the sticker prices. Free, no obligation price quotes are available for any make and model that you want to lease. These price quotes provide real time prices from multiple dealerships in your North Dakota neighborhood, as well as, manufacturer’s suggested retail prices, and true dealer invoice prices.
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