Many people tired of buying new cars which they are underwater on for three or four years may have considered the alternative to buying a car, leasing a car. If you are well prepared in advance of marching into a car dealership for a lease, then you will be capable of obtaining a good deal. It is important to understand the different terms and negotiable items in a car lease to impress the dealership with your knowledge. This article covers the step by step directions to negotiating a good car lease deal.
Researching the Car Make and Model
Begin by going on to the Internet to research the make and model of car in which you are interested. Learn what the MSRP, or Manufacturer’s Suggested Retail Price, for the vehicle is. If you are able to get the dealership down to between $500 and $700 less than that figure, then you have arranged a good deal. Between $800 and $900 less is a great deal. Keep those figures in the back of your mind when you do get down to the dealership.
Visiting the Car Dealership
Now go down to the dealership and pick out the exact car that you wish to lease. Query the dealer on what a two to three year lease of the car might cost. Never sign for more than a thirty-six month lease, since the car would have used up its warranty by then. Make sure the sales person understands that you are not only interested in what your monthly payments would amount to, but also in what the real cost of the vehicle is. Never accept that first price that they give you, in particular if it is not at all near the number with which you came prepared. Sales people anticipate that you will haggle it down.
Working Out the Deal
It is important to query if the car dealership has any rebates going on for leases. This might bring the price down by from $500 to $1,000. They occasionally have rebates for people who recently graduated from college, as well.
You are offered the choice of obtaining either 12,000 or 15,000 miles driving allowance for each year of the lease. The difference in price between the two is a mere $50 to $100 a year. Even though you may feel like you ought to buy the extra mileage, it is worth remembering that many leasing companies will drop any mileage penalty when it is time to turn the vehicle in, particularly if you choose to lease another vehicle with them at that point.
Be careful about the car salesperson attempting to fast talk you into going with a car which contains a greater number of options than you are seeking. As an example, two cars might be identical in every way except for the fact that the one comes with mats for $175. You are able to skip the mats and buy your own at an auto parts store for a small percentage of that amount.
Verifying the Deal Yourself
Before you walk out of the car dealership, be certain that you are aware of all of the following pieces of information. You must understand what is the length of the lease, the negotiated price of the lease, the MSRP, the actual monthly payments, and the mileage allowance. Check with the dealership about their acquisition fee. This junk fee is a not negotiated fixed price which the car maker mandates for each lease deal made.
Finally, log on to a lease calculator. Make sure that the numbers they have given you match up with the lease calculators. If they are identical and you are agreeable with their price, then go make the deal. If you are unhappy, then call up the sales person and ask if you can negotiate down the difference.
To learn more about negotiating a good car lease price, simply go to the following two websites at:
Lease Guide: Lease
How Stuff Works: How to Lease a Car
- How Does a Car Lease Work?
- How to Lease a Car?
- What is a Car Lease?
- How Do You Lease a Car?
- How to Negotiate a New Car Price?
