Q:

How do you negotiate the best lease deals possible?

A:

Quick Answer

To negotiate the best lease deal possible, look up price information on the cars you're considering leasing, determine exactly what you need from the lease agreement, go to the dealer, and use the information to get the best deal available. The process typically takes about a week.

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Full Answer

  1. Obtain car pricing information

    Get information on the dealer's wholesale cost for the cars you're interested in so you can negotiate up from that number. Also find out the manufacturer's suggested retail price and each car's expected resale value, since you are responsible for the depreciation cost.

  2. Decide the terms of the lease

    Figure out how long a lease you need before going to the dealer. Calculate how many miles you plan to drive the car per year to avoid any mileage penalties.

  3. Go to the dealer

    Test drive any car you're considering leasing. Get lease offers for the cars you like. As of 2014, a lease deal is generally a good one if the monthly payment is $135 or less per $10,000 of vehicle value. Based on the information obtained, negotiate a final price for the car you want to lease. Calculate the total amount of the lease, and don't let the salesperson convince you to take a lower monthly rate in exchange for paying a larger amount.

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