Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
How to get the most from your car lease
1.
2. If you are looking for a car to use for business
purposes, car leasing is typically the best option.
While many believe that a lease is far less
negotiable than a car purchase, this could not be
further from the truth..
3. Before you sign on the dotted line you need to
make sure you are using your expert business
negotiation skills so that you can get the best price
and the best lease terms.
Here are several different ways you can negotiate
to get the best deal on your car lease
4. Dealers markup the price of a vehicle, even when
it is being leased.
If you want to lower your monthly payment, the
first thing you must do is negotiate the price of the
vehicle.
The easiest way to do this is to educate yourself
before you take a trip to the dealership.
5. If you know what type of vehicle you will be
leasing, look up the dealer invoice price of the
vehicle.
There are tools on the Internet that will list this
price for every vehicle on the market today.
6. You should also educate yourself on the
incentives and the rebates that are currently
available through the manufacturer.
Once you know about the dealer invoice price and
the current dealer incentives, you will have more
bargaining power.
7. While you may not be able to lower the cost of
mileage for the lease, you can choose which
mileage limit is best based on how often you will
be driving.
8. You have the option to choose 9,000, 12,000, and
15,000 mile options, with higher mileage options
costing more per month.
Just remember that if you choose a low mileage
option, you risk the chance of paying a high over
mileage payment at the end of your lease.
9. It is also a very good idea to find out what the
residual value of the vehicle is.
If the residual value of the car is high, the vehicle
retains its value better and the cost of the vehicle
will be lower.
10. Just like you pay interest to finance a vehicle, you
are going to pay the lessor interest to lease the
car.
Ask the finance manager if the interest is
negotiable based on your credit score.
11. If this is your first time leasing a car for business,
you may not be familiar with all of the fees that
you will need to pay.
While the down payment is not typically
negotiable, there are fees that are included in the
contract that are pure profit for the dealer.
12. The acquisition fee, the disposition fee, and the
dealer fee are all negotiable, and you should ask
the dealer to lower it if they want your business.
13. Once you agree on a lower vehicle price and
lease terms, it is time to sign your contract. Be
sure not to settle for the quoted price for
car leasing and lower your business expenses for
vehicles and vehicle maintenance.