Steps To Finding Good Lease Deals
Plenty of good lease deals can be found with a few minutes of research online. Taking the time to research now will save you both money and stress when you lease a new car.
Compare Vehicles: Many people lease luxury cars because they are cheaper to lease than buy. Compare multiple brands and models looking for the best leasing specials and incentives.
Residual Value: Shop for models with higher resale/residual value. The higher the lease residual value, the smaller percentage of the vehicle price will be paid to lease.
Capitalized Costs: The capitalized cost or cap cost is the total price of the vehicle which will be used to calculate the lease price.
Negotiate Cap Cost: Whether leasing or buying you can negotiate the price of the vehicle. All you need to do is learn the MSRP and factory invoice price of the vehicle.
Trade-in Value: It is best to research the value of your trade-in before visiting the dealer. This is easy to find online, print it out and take it with you for future reference.
Cap Cost Reduction: The amount you pay at signing, plus any credits such as incentives or the value of your trade-in. The capitalized cost reduction is subtracted from the cap cost. The smaller the reduction, the higher your monthly payment.
Security Deposits: A refundable deposit required before the lease contract begins.
Depreciation: When leasing you pay for the amount the vehicle depreciates over the length of the lease.
Money Factor: You can use the money factor to estimate the annual interest rate of your lease. Just multiply by 2400.
Monthly Payments: A lease with $0 down and high monthly payments may be cheaper than one with a larger down payment and low monthly payments.
Request a free lease quote today and learn all you need to find good lease deals in your area!
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