Two weeks ago, I was at my wits end with my old car. The transmission was going out, the check engine light was on, and it was missing a side mirror. As a working professional, I knew that I had to have a car that was not only reliable but suitable to drive clients around in. So I decided to look into leasing a new car. Until now, I have always bought my cars, so I was a little unsure about the whole leasing process. While the leasing and buying processes have their differences, you still have the opportunity to negotiate a good lease deal. Here are some easy ways to negotiate a great lease.
Total Price
The first place to start with any lease negotiation is the selling price. This is the total listed value of the car. Just like purchasing a vehicle, the lease price can also be negotiable. While in most circumstances the list price on a lease can be negotiated, keep in mind that the price on a leased car may be less flexible since the dealer has likely already reduced the price in order to entice buyers with a low monthly payment.
Additional Features
If the dealer isn’t willing to budge on the price, approach the negotiation from another direction. If the car that you are looking at is missing an item from your wish list – for example, premium floormats – ask the dealer if they will be willing to throw them into the package for free. While you won’t necessarily be saving any cash, you will be getting more car for your money.
When you lease a car, you are still required to pay the registration on your car and any applicable taxes. One way to cut a considerable amount off your lease is to ask the dealer to pay for your registration or taxes. If they say no, try to negotiate a partial payment.
Extras
So you are in the finance office signing the paperwork when suddenly they hit you with last chance effort to make a few extra bucks by offering additional maintenance packages, stain protection, and dent repair insurance. These extras will add money to your monthly payment. While this may seem like a dealers prime opportunity to make additional profit, you might be able to get something out of it yourself. Pick out a couple small things that you like and ask the dealer if you can get them half off.
Free or Discounted Maintenance
Free or discounted maintenance is one of the easiest freebees to score from a dealer. While the dealer may be charging $40 for an oil change, this service only costs them a fraction of what they are charging. Most dealers are happy to throw in free maintenance with the purchase or lease of a new car. Why? They know that the more they have you in their shop, the more likely you are to keep coming back to pay for mechanical repairs and tune-ups.
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