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re: Leasing a vehicle
Posted on 8/19/15 at 7:28 am to Layabout
Posted on 8/19/15 at 7:28 am to Layabout
Check the sticky, there's links to lease threads. Some good ones.
Keep mileage down (consider prepurchase)
Don't put money down
Ensure GAP is provided by lease
Use Edmunds forum to find MF and residual. Most manufacturers list residual based in %, so options will residualize the same way.
Negotiate the vehicle price the same way.
Avoid trading a vehicle in for a lease. You lose the tax savings, and money down will be lost.
Avoid a security deposit and most fees.
Don't lease to purchase
Keep mileage down (consider prepurchase)
Don't put money down
Ensure GAP is provided by lease
Use Edmunds forum to find MF and residual. Most manufacturers list residual based in %, so options will residualize the same way.
Negotiate the vehicle price the same way.
Avoid trading a vehicle in for a lease. You lose the tax savings, and money down will be lost.
Avoid a security deposit and most fees.
Don't lease to purchase
1
Posted on 8/19/15 at 11:39 am to LSUtigerME
BMW has a Multiple Security Deposit program. For each security deposit (one monthly payment), it will lower the money factor by a certain amount. I think you can do up to 7.
I did this on my last lease and it saved me something like 1500 dollars over the life of the lease. You get the security deposits back at the end of lease.
It sucks tying up that money, but getting a risk free 11-12% return per year is great in my book.
I did this on my last lease and it saved me something like 1500 dollars over the life of the lease. You get the security deposits back at the end of lease.
It sucks tying up that money, but getting a risk free 11-12% return per year is great in my book.
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