How to Negotiate the Best Lease Deals
Finding a good car lease depends mostly on carefully researching for the best options and offers out there. Once you’re armed with the proper information you can easily negotiate the best lease deal.
Learn Manufacture & Dealer Incentives 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.
Discover the Actual Price Knowing both MSRP and factory invoice price will give you a general idea of the dealer’s bottom-line.
Negotiate the Capitalized Cost The cap cost will be somewhere 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 The residual value basically tells you how 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 Find the lowest interest rate available by shopping multiple dealers.
Ignore the Monthly Payment Other than being 100% sure you can afford it, keep monthly payment amounts out of your negotiation.
Review the Capitalized Costs. 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 Multiple Dealer Offers Feel free to use competitor offers in your negotiation. They could be the push that get you the best lease deal!
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