In short: Yes, you can definitely negotiate a lease price.
When it comes to negotiating, leasing is just like buying, and that means that you should feel free to negotiate just as you would when buying a car.
- 1 What questions should you ask when leasing a car?
- 2 Are you responsible for repairs on a leased vehicle?
- 3 How do you get a good deal on a lease?
- 4 What is the best month to lease a car?
- 5 What’s the best month to buy a car?
- 6 How do you know if a lease is a good deal?
- 7 Who pays maintenance on a leased car?
- 8 What I need to know before leasing a car?
- 9 Why Leasing a car is a bad idea?
- 10 What happens if I damage a leased car?
- 11 What are the disadvantages of leasing a car?
What questions should you ask when leasing a car?
7 Questions to Ask Before You Lease a New Car
- Are there any lease specials?
- What is the car’s residual value?
- What is the money factor?
- How many miles does the lease include?
- How much money is due up front?
- What fees does the lease have?
- What will this vehicle cost me over the life of the lease?
Are you responsible for repairs on a leased vehicle?
Usually, a newer car needs fewer repairs, but when issues do come up, repairs will often cost less if you lease your vehicle. Most of the time, the vehicle you’re leasing will still be covered by the manufacturer’s warranty, so you won’t have to foot the bill for expensive repairs.
How do you get a good deal on a lease?
7 Steps to Getting a Great Auto Lease Deal
- Choose cars that hold their value. When you lease a vehicle you are paying for its depreciation, plus interest, tax and some fees.
- Check leasing specials.
- Price the car.
- Get quotes from dealers.
- Spot your best deal.
- Ask for lease payments.
- Close the deal.
What is the best month to lease a car?
New models are generally introduced sometime between July and October, though some can be a bit earlier or later. If you lease within a few months of release, you can usually get the best deal. The only situation where timing doesn’t matter is when the automaker offers special lease deals.
What’s the best month to buy a car?
Shop late in the year and late in the month
The months of October, November and December are the best time of year to buy a car. Car dealerships have sales quotas, which typically break down into yearly, quarterly and monthly sales goals.
How do you know if a lease is a good deal?
Quickly Figure Out if Your Lease Deal is Good
- Any lease that costs less than $125/month per $10,000 worth of vehicle is considered a good lease deal. Anything below $105 per $10K is a fantastic deal.
- IF (“Real” Monthly Payment / MSRP ) * 10,000 is less than $125, then it’s a good lease deal.
- The very best lease deals I’ve seen hover around the $100 per $10k mark.
Who pays maintenance on a leased car?
While some dealerships include maintenance in their lease contract, most require the borrower to pay the upkeep expenses. The contract may also list penalty charges for those who lease the vehicle and then do not keep up with the manufacturer’s suggested maintenance schedule.
What I need to know before leasing a car?
What You Need to Know Before Leasing a Car
- Lower repair costs, because the warranty will cover most of them.
- Lower sales tax, since you’ll only be responsible for paying sales tax on the portion of the car you finance.
- Lower monthly payments compared to buying.
- Typically, there is no down payment, or a very low down payment, required.
Why Leasing a car is a bad idea?
Drawbacks of Leasing
The biggest drawback of leasing is that you aren’t building up any equity in your vehicle. If you can’t do that, the lease rate will go up, or you’ll be stuck paying expensive mileage penalties at the end of your lease. Drivers who lease will also have to take very good care of their leased cars.
What happens if I damage a leased car?
Otherwise it’s expected that you’ll end up with some minor dings and scratches just from using the car normally. You then decide whether to repair the damage at your own expense (or through your insurance) before returning the car, or return the car damaged and pay the leasing company’s damage penalty.
What are the disadvantages of leasing a car?
8 Biggest Disadvantages to Leasing a Car
- Expensive in the Long Run. When you lease, you’re basically paying for the use of the vehicle for the first 2 or 3 years of its life – when the car depreciates the most.
- Limited Mileage.
- High Insurance Cost.
- Hard to Cancel.
- Requires Good Credit.
- Lots of Fees.
- No Customizations.
Photo in the article by “President of Russia”