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How do I get the best lease deal?
Choose cars that hold their value. When you lease a vehicle you are paying for its depreciation, plus interest, tax and some fees. Check leasing specials. Price the car. Get quotes from dealers. Spot your best deal. Ask for lease payments. Close the deal.
How do I know if I got a good deal on a lease?
High Residual Value. Leasing experts agree that the most important factor in a lease is the vehicle's residual value, which is a prediction of what it will be worth at the end of the lease term. Low Money Factor. Low Fees. Customer Retention and Conquest Offers.
How do you get a good deal on a lease?
Choose cars that hold their value. When you lease a vehicle you are paying for its depreciation, plus interest, tax and some fees. Check leasing specials. Price the car. Get quotes from dealers. Spot your best deal. Ask for lease payments. Close the deal.
Can you negotiate the money factor in a lease?
Negotiate the interest rate (money factor) on the lease to a level appropriate to current market interest rates. Also, when the lease ends you typically have the right to buy the car at the residual value.
Is it a good idea to buy your leased car?
Buying your leased car saves the leasing company shipping and auction fees. That's why, in some cases, they'll call and offer you a lower buyout price than what's in the contract. But Maloney says it often isn't a good deal since they'll likely offer the retail price, when you should aim to buy it for wholesale.
How much does 1000 down change a lease payment?
Keeping in mind that every $1,000 equals $30 a month in payment, you should be able to negotiate at least $1,000 off of the MSRP (at least for cars over $20,000) which should automatically reduce your monthly payment or reduce the amount of money you have to put down.
What is the best month to lease a car?
The Best Time of Year to Lease a Car. Timing your lease can be important if you want to maximize savings. Generally, the best time to lease a car is shortly after the model is introduced. That's when the residual value will be the highest — meaning you'll likely save money on the depreciation cost.
Is December the best month to lease a car?
For car buyers, December has the year's highest discounts and best incentives, according to the automotive experts at Edmund's. Between dealerships hustling to achieve quotas for the end of the year, and consumers looking to find a luxury vehicle at a lower rate, December is the best month to find a good deal on a car.
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