You should prepare yourself before walking into any car lease dealership so that you can get a really great deal. You should learn the terminology and understand what is negotiable so that the company people understand that you will not be taken for a ride.
Research the vehicle
Research the car that you wish to lease and find out the MSRP of the car. The negotiated price with the car leasing company should be approximately $800 or $900 less than that amount. This will be a really good deal. Once you have decided on the car and done the research, book the car on the website of the dealer or by visiting their office. Ask the salesperson what would be the monthly payment for a period of two or three years. Don’t opt for a lease more than 36 months as usually a warranty is for that period. Don’t just accept the amount that eh salesperson gives you because they state an amount expecting you to negotiate.
There is a complicated method of calculating the finance percentage you will pay each month. A lease is not flexible whereas while buying a car your credit rating is taken into consideration. A money factor is taken into account also when calculating this monthly payment amount. While leasing a car you should find out whether the dealership is running any rebate specials on leases. You could get $500 to $1000 off on the price with such rebates.
Mileage and other considerations
Usually a lease allows a mileage of 12,000 to 15,000 miles annually and the price difference is between $50 to $100 per year. Usually extra mileage costs more, but many times the car leasing companies forgive this if you lease another vehicle for them, so don’t go for extra mileage at the time of leasing the car if you can avoid it.
Don’t allow the salesperson to talk you into choosing a car that has more features than you want. For instance things like car mats and other accessories are usually worked into the price of the car and you don’t really need these accessories, so choose a car with the least frills. Apart from the MSRP, negotiated lease price, length of the lease, mileage allowance and the bottom line monthly payments also ask the salesperson about the acquisition fee which is non negotiable and fixed.
Take some time and log on to a lease calculator online and put in the numbers to see if you are getting the same amount as that quoted by the dealership. IF these amounts match and if you are satisfied with the price sign the contract if not then negotiate the price with the salesperson. Usually you can get a much better deal by negotiating the price with the dealer.
Also don’t settle for the first car leasing company that you come across. Look around and search for a company that offers the best deals on the kind of car that you require. Nowadays there is tough competition among the car leasing companies which compels them to provide competitive rates to their customers.