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How to get the most from your car lease
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How to get the most from your car lease

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Leamington GM offers a variety of leasing and financing options on a large inventory of new and used vehicles. To learn more, visit their website.

Leamington GM offers a variety of leasing and financing options on a large inventory of new and used vehicles. To learn more, visit their website.

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  • 1.  If you are looking for a car to use for businesspurposes, car leasing is typically the best option. While many believe that a lease is far lessnegotiable than a car purchase, this could not befurther from the truth..
  • 2.  Before you sign on the dotted line you need tomake sure you are using your expert businessnegotiation skills so that you can get the best priceand the best lease terms. Here are several different ways you can negotiateto get the best deal on your car lease
  • 3.  Dealers markup the price of a vehicle, even whenit is being leased. If you want to lower your monthly payment, thefirst thing you must do is negotiate the price of thevehicle. The easiest way to do this is to educate yourselfbefore you take a trip to the dealership.
  • 4.  If you know what type of vehicle you will beleasing, look up the dealer invoice price of thevehicle. There are tools on the Internet that will list thisprice for every vehicle on the market today.
  • 5.  You should also educate yourself on theincentives and the rebates that are currentlyavailable through the manufacturer. Once you know about the dealer invoice price andthe current dealer incentives, you will have morebargaining power.
  • 6.  While you may not be able to lower the cost ofmileage for the lease, you can choose whichmileage limit is best based on how often you willbe driving.
  • 7.  You have the option to choose 9,000, 12,000, and15,000 mile options, with higher mileage optionscosting more per month. Just remember that if you choose a low mileageoption, you risk the chance of paying a high overmileage payment at the end of your lease.
  • 8.  It is also a very good idea to find out what theresidual value of the vehicle is. If the residual value of the car is high, the vehicleretains its value better and the cost of the vehiclewill be lower.
  • 9.  Just like you pay interest to finance a vehicle, youare going to pay the lessor interest to lease thecar. Ask the finance manager if the interest isnegotiable based on your credit score.
  • 10.  If this is your first time leasing a car for business,you may not be familiar with all of the fees thatyou will need to pay. While the down payment is not typicallynegotiable, there are fees that are included in thecontract that are pure profit for the dealer.
  • 11.  The acquisition fee, the disposition fee, and thedealer fee are all negotiable, and you should askthe dealer to lower it if they want your business.
  • 12.  Once you agree on a lower vehicle price andlease terms, it is time to sign your contract. Besure not to settle for the quoted price forcar leasing and lower your business expenses forvehicles and vehicle maintenance.