Want to find a great car lease deal? If you feel un-educated and scared about leasing a new car because of the fear of the unknown, I’ll tell you what to focus on.
You can just call us, and there is nothing to fear, we’ll make it simple and easy for you (ok had to get that out of the way).
Here’s my tips: Focus on these few simple pieces of information.
First, identify clearly what car and options you want and find the MSRP (manufacturers Suggested Retail Price) of the car you want. This amount is from the FACTORY, some dealers play games with it, but it’s on the window sticker, ignore any aftermarket additives and YES, the MSRP INCLUDES destination (oldest trick in the book). Make sure to have that number jotted down.
Second, on a lease there may be multiple different banks that are available to use on the model you want. Keep it simple, focus on the payment and the total out of pocket only. Asking for interest rate, and residual is worthless information if you are not planning on buying the vehicle after the lease. Your payment and total upfront costs will vary place to place. You can ask for all quotes to be only $1500 total out of pocket from every dealer to make it easier on you. Otherwise do the math yourself. For instance, if one dealer says $400 per month with $1000 upfront and another dealer says $370 per month with $2000 out of pocket for 36 months, know that essentially, they are the same thing.
General rule of thumb: For every $1000 extra money down in the lease will reduce the price about $30 on a 36-month lease. It works it reverse as well (the $370 quote from above will be $400 with $1000 out of pocket).
Finally pay attention to the obvious; Length of lease and mileage allowance. Make sure they fit what you need and different terms will change the price.
Dealers often change things around last second, add options you don’t want, will claim your credit isn’t great, tell you that you don’t qualify for all the rebates. Staying laser focused on the four items I said above will eliminate the confusion of competing quotes and will keep your mind clear on which dealer is at least offering (not necessarily delivering) the better deal.
Or like I said, skip all that and call us!