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Lease a Car for Less With These Tips. Leasing a new car is simple in theory: you’re just paying for the part of the vehicle’s depreciation that occurs during the term of the lease, plus some interest and fees. You can get a car with the latest technology, safety, comfort features, and a full warranty every few years.
10. Negotiate a Car Lease Like a Purchase. One of the easiest ways to get roped into agreeing to spend more than you want is by focusing only a lease’s monthly payment. This gives the dealer leverage to zing you on other lease terms. (See this diagram of the “cash flow shell game” to see how this works.)
Unless you’re wanting a top-selling car that’s in short supply, price is always negotiable in a car lease. One of the most useful things to know when negotiating car prices is to know what other people are paying for the same car you want.
Prices that are negotiable Lease price: This is based on the current value of the car, and the estimated resale value at the end of three years, the length of time for most leases. The down payment: If you’ve got excellent credit, a lease can be made with little to no down payment. Even if your ...
Some factors of a lease typically aren’t negotiable. The residual value, or value of the car at the end of the lease, is usually set by independent car-value experts. Another thing that you can’t usually negotiate is the lease-acquisition fee. This fee covers the leasing company’s costs to set up the leasing transaction.
Negotiate in person: It’s easier to say no to someone over the phone or through email than when they’re sitting across from you. Have your documents on hand: Bring prices for other units, your previous rent payment record, references from prior landlords, your credit score, and whatever else you need to build your case.