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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 4 of 5

#31 of 45 Naive about Leasing by rccbrandon

Feb 13, 2013 (7:31 am)

In July, I'll be returning my leased 2010 Altima. I'm starting researching early to see what my next car will be. In doing this research and finding these forums, I'm realizing how much I didn't know about the process of making a lease deal. When the dealer gave me the price on my current lease, I accepted right away because the payment was significantly less than what I was paying for the purchase I traded in to go on lease. I assumed that when I saw those lease deals offered on TV and in newspaper, everyone paid the same for the lease. I'm now finding out I was quite wrong and should have negotiated for the price.
 
What I'm hoping to get here is some guidance on how to begin the conversation with a salesperson regarding negotiating the price of the care the lease is based on. Can anyone offer suggestions? I would be most appreciative.

#32 of 45 Re: Naive about Leasing [rccbrandon] by paperboyccc

Feb 13, 2013 (10:33 pm)

Replying to: rccbrandon (Feb 13, 2013 7:31 am)
My first recommendation is to only deal with the internet sales people and only deal with them by email. First get the absolute best deal relative to invoice on any car on the lot (truecar is good for helping with this) then find out the buy rates for money factors and residuals. Also find out which dealer fees are mandatory and which are optional. Do not muddle the transaction by trading in a vehicle or purchasing any additional anything other than the vehicle itself.
 
Once you have the following information:
MSRP
Selling Price after dealer discount and all incentives
Buy Money Factor
Residual
Miles / Yr
All applicable fees (lease acquisition fee, registration fee, etc)
**NEVER PUT MONEY DOWN ON A LEASE** (Also known as capital cost reduction)
 
Use a lease calculator to calculate the lease yourself and send the results along with the lowest quote you got by email to multiple dealers. Get the dealer to send back written verification of the entire deal. Only agree to visit the dealer in person once every last detail of the deal is ironed out.
 
Always remember that you have the power when you are dealing by email / phone. Once you are at the dealer they are the masters of wearing you out by taking hours and hours to agree to each concession and making you feel guilty.
 
Yes - this process is arduous, but if you are not so picky about the make and model and are willing to go for the best available lease deal and follow the steps above, you will save about 10% off MSRP compared to the typical dealer. You can lease $40,000 vehicles for under $300/mo and sometimes for only 24 months so that you get a new car faster.

#33 of 45 Re: Naive about Leasing [paperboyccc] by rccbrandon

Feb 14, 2013 (10:18 am)

Replying to: paperboyccc (Feb 13, 2013 10:33 pm)
Thanks for the good info. Of course my eyes darted to the line about getting a $40,000 car for under $300/month. Which cars might those be? Other that going through forums on this website, is there another place I can see a multitude of current lease offers in one place? At this point, I still want something foreign, but are more interested in price than anything.
 
I'm definitely doing more work online/via e-mail this time. My current dealer has had me in so many times and offered bad deals, that is part of the reason I'm thinking about going to a completely different manufacturer altogether.

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Feb 15, 2013 (5:08 pm)

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#35 of 45 Re: Naive about Leasing [rccbrandon] by paperboyccc

Feb 15, 2013 (10:52 pm)

Replying to: rccbrandon (Feb 14, 2013 10:18 am)
You can get an Infiniti G37. My local dealer advertises it for $259/mo. Some people got E class mercedes last month for $350/mo ($60k/car). Look through the forums and look at deals others are getting and look at advertised deals.

#36 of 45 Re: Naive about Leasing [paperboyccc] by kyfdx HOST

Feb 16, 2013 (7:27 am)

Replying to: paperboyccc (Feb 15, 2013 10:52 pm)
Once you amortize the upfront money, the G37 lease is more like $400/mo..
 
Not a bad deal for a $40K car, but it isn't $269....

#37 of 45 Re: Naive about Leasing [kyfdx] by paperboyccc

Feb 16, 2013 (8:49 am)

Replying to: kyfdx (Feb 16, 2013 7:27 am)
http://infinitimv.mobi/infiniti-lease-2013-g37-journey-sedan--dealer-9994-sid-25- - - - - 505.html?isoffer=true
 
They advertise it for $249/mo with $999 cap cost reduction and $700 acquisition fee. Amortizing those would add $71/mo for $320/mo. Infiniti should allow 9 multiple refundable security deposits to bring the interest rate down. You should also be able to negotiate a better deal than advertised.

#38 of 45 Re: Naive about Leasing [paperboyccc] by kyfdx HOST

Feb 16, 2013 (10:46 am)

Replying to: paperboyccc (Feb 16, 2013 8:49 am)
Yeah... that's a good deal... we don't have RWD G37s around here..
 
The MSD program is great.... I did that on my wife's G37XS... saved around $60/mo....

#39 of 45 Re: Naive about Leasing [kyfdx] by paperboyccc

Feb 16, 2013 (11:44 am)

Replying to: kyfdx (Feb 16, 2013 10:46 am)
Same here. Did the full 9 MSDs on my G37 and saved a lot. The deals back then weren't as good as they are now. My lease expires in six months but I'll looking for something bigger with a growing family.

Messages Page 4 of 5

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