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How to Negotiate a Good Deal on a Car Lease

45 messages,  Last post on Mar 14, 2013 at 8:32 PM

You are in the Prices Paid - Buying & Leasing Experiences Forum.

What is this discussion about? Car Buying, Car Leasing

Messages Page 3 of 5

#20 of 45 getting started with search for good deals by apath2

Dec 12, 2011 (9:14 pm)

I am getting started looking for good leasing deals for a 2011 BMW 328xi 4dr with premium package and navigation. I also want a convenience package but I haven't heard from any dealers with all three on a vehicle.
 
I want to lock the deal by end of year but I don't want to visit a lot of dealers, as I have a small child and a long commute to work -- time is short/precious. What's the best way to make sure a dealer is serious before I make a trip out to them? Any tips? I've already driven the car, and I really like the ride, interior and features. Also I've seen prices on here and looked up the invoice and it should be well within my price range. So far the dealers only want to talk MSRP terms on the phone and even the one dealer I have visited in person.

#21 of 45 Re: getting started with search for good deals [apath2] by daniel12304

Dec 13, 2011 (1:00 pm)

Replying to: apath2 (Dec 12, 2011 9:14 pm)
First of all the BMW 3 series will change the body style in a few months , so the deals are very good at this time. The best way to shop for a car without leaving your home is an Auto broker - depending on where you live , someone can do the shopping and negociating for you - its like hiring a lawyer when going to court - the broker will deliver the car to your home in motst cases and handle the entire transaction
 Just google Auto broker in your area and see what you can find
 
Good luck
Daniel
Best Car Purchase

#22 of 45 Re: Negative equity trade- in [tntgirl12] by bruno1985

Dec 24, 2011 (7:36 pm)

Replying to: tntgirl12 (Jun 29, 2011 12:03 pm)
I know a broker that gets great prices on mercedes leases 340 for a c clas mercedes 2012 with 1500 drive off at signing a poaded car with amg package, great broker

#23 of 45 new lease? by steve_ HOST

Jan 04, 2012 (10:01 am)

A reporter is looking to speak with consumers who are in the market right now for a car loan or a car lease or who just recently secured a loan or lease. Is/was it easier or more difficult than you expected? Please send a quick note discussing your experience and your preferred contact information to predmunds.com by Friday, January 6, 2012.

#27 of 45 Re: Leasing brokers [wallstreet1234] by bestleaseprice

Apr 13, 2012 (2:22 pm)

Replying to: wallstreet1234 (May 16, 2011 9:18 am)
One of the best leasing companies in NYC is Grand Prix Motors. I personally leased 3 cars already over the last 3 years from them. They gave me the best price and great service. Check them out www.grandprixmotors.com

#28 of 45 How to find lease money factors and residuals by johngettler

May 19, 2012 (3:30 pm)

Hello all,
 
1. Unfortunately, there isn't a law requiring auto makers to publicly disclose their lease money factor rates (interest rate) or their residual rates 9calue of car after duration and miles are put on.) This makes it *very* difficult to compare lease incentives across different comparable makes, models and trims. I wish there were a law enacted that would force this information to be as clear as auto loan interest rates are today.
 
2. Somehow, Car_man who is a "host" on these excellent Edmunds Forums, seems to thankfully have access to nearly unlimited lease money factor and residual info from most makers, and for years has been reporting very accurate information in reply to each individual request. But he is only one man, and it can take some days for him to get back to each person. I have always been super curious, Car_man, where *do* you get this information, and how come we all can't just get to the data directly? I know of course, it's not up to you, but can you give us some insight on how you gather this info? And why edmunds.com can't or won't just publish this extremely valuable data in an open manner? Of course, thank you for all the information that you *do* pour out every day Car_man.
 
3. The best always accessible website that I have found that has a good amount of detailed lease info for many cars, is this link below (sorry Edmunds, it's from cars.com). It is *not* always accurate, and should be taken with a grain of salt, but I have found it to be helpful, but not nearly as accurate as Car_man. Note that this site lists money factors as a percentages, which is actually the money factor number times 2400 (for example MF 0.0006 x 2400 = 1.44%) to get a fairly comparable number to standard auto loan interest rates. Just enter you zip, and then click into each model and trim to see detail lease info.
 
http://www.cars.com/go/advice/incentives/index.jsp
 
4. Each dealer *should* be able to provide you MF and Residual for a specific car, with a specific lease length in months, and miles per year. But you have to "get involved" with a sales guy to begin to extract this kind of info. Ugh.
 
5. There is a company called ALG that publishes a "residual guide" each quarter of what they recommend as the residual for each model and trim, after different lease lengths of time, and different mileage usage. They *will sell* you a single copy of their "Residual Percentage Guide 2012 Models National" book for about $50 by calling the number on this link, 1-805-898-8400. The manufacturers *do not* always match these residuals all the time, but it *is* a fair way to generally see what models and trims would give you a relatively cheaper monthly payment, due to holding their value better.
 
https://www.alg.com/products/guidebooks.html
 
Hope this helps everyone.
John Gettler

#29 of 45 Which Lease? Help! by fanfortoyota

Nov 08, 2012 (8:44 pm)

I'm looking to do a 36 month lease on a 2013 Mini Hatchback but not sure if I'm entering a good deal. I've read some of the posts and replies on here about the residual, etc. I'm somewhat confused so came here for help. Any help is appreciated! Here is what I'm looking for and what they're offering:
 
Option 1 - Custom built online Hatchback, panoramic sunroof, Red, Premium Package 2, Heated Seats, Arm rest, Automatic, Heated Seats, 16" black 6 star wheels, Rooster red trim on dashboard, upgraded stereo. $25,296; Residual .65; 10,000 miles; $950 down with a $343 monthly payment
 
Option 2 - Same as above but with $2000 down and a $302 monthly payment
 
Option 3 - Premium Package 2, automatic, center armrest, (NO updated stereo, heated seats, or 16"wheels) - $$23,500; Residual .65; 10,000 miles, $908 down with a $322 month payment
 
Option 4 - Same as Option 3 but with $2000 down and a $289 monthly payment
 
Option 5 - Purchase a used 2010 Black Mini Cooper S, panoramic roof, 23K miles, NO heated seats, NO upgraded stereo, $19,500
 
Thanks in advance!

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