Car Lease Negotiation
When negotiating, let the dealer know that you want to lease, you have a good knowledge on leasing, and about the car you want to lease. Let the dealer also know that are not into playing games; and that you want to talk about the selling price, not the monthly payments.
To negotiate successfully, you have to let the dealer know that if you get the right deal, you will lease today. You also have to let them know that you are serious and will not stop until you get a fair deal, sometimes than means letting them know you’ll go elsewhere to get the deal you want. Keep your cool, and never let the dealer know how much you love the car.
Remember if you are not happy with the dealer or feel uncomfortable with him or her, you could always walk away and go to another dealer.
Prepare to Negotiate
If you are prepared you will do well, if you didn’t this could be a lot more difficult for you. The first thing you should know if you did your homework is that the sticker price is always negotiable, unless the car is in high demand, and is in short supply. Do not let the dealer tell you that prices are not negotiable.
When you first start to negotiate, start on the Cap Cost, and have in mind a specific price. In order to find this price try to find out what other have paid for this same car by visiting websites like Edmunds.com or autos.yahoo.com. Always negotiate price, never the monthly payments. Because the dealer is just an agent for the leasing company, all that you can negotiate with them is the selling price. They do not have much control over the residuals, and money factor. If you do not agree with the leasing company’s terms, you can ask for another leasing company, or look for one on your own. Sometime the dealer will be able to meet your monthly payment expectation by increasing the residual value. As far as you are not interested to buy the car at lease end, that can be a good deal.
Ask the dealer about any special rebates, specials, or anything that will make you Cap Cost lower. Never tell the dealer what you can afford, give him a price.
Negotiate a price on your trade-in that is fair; go in the dealer knowing what your trade-in is worth. Never give the dealer a chance to “lose” your trade-in car keys.
Ask about any acquisition fees, disposition fees, or other charges that would affect your cost.
Few tips and tricks to consider to land a good deal
Choose your day wisely. A bad raining day during the week will play in your favor as dealerships are quite empty during bad weather and dealers want to make the sale.
Go visit your dealer the last week of the month. Dealer have quota to fulfill each month, so if you come a few days before the end of the month they should be lot more flexible on prices.
When you get the deal, ask the dealer to calculate your monthly payment amount, it is not going to include taxes. While the dealer is calculating all his figures, you do your own calculations based on the formulas given to you in the article “monthly lease payments.”
It is important that you numbers are similar to theirs, if there is anything that is different from you calculations; ask them to explain to you step-by-step why. This will catch any mistakes or extra fees that they did not mention to you.
Do not agree to any add-on services, credit insurance, or extended warranties.
Do not sign the lease or loan, until you have settled everything, and do not accept to take the car over night without settling a deal.
Sometimes you will not need to negotiate prices. For example, when there are special prices, and sales. These deals are usually good and really need no negotiating. If you try to negotiate these deals, it would be impossible. Most of the time the advertised deals are lower than what you can negotiate, so take advantage of those deals and keep an eye out on them.