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re: About to lease a car...any tips before I pul the trigger?
Posted on 5/26/14 at 9:52 pm to iAmBatman
Posted on 5/26/14 at 9:52 pm to iAmBatman
quote:
So if I were to negotiate the price to lower than what the deal is currently using then I can also lower the monthly payment? Am I understanding that correctly? Basically what you're saying is to go to the dealership and act as if I were buying the car and get the price as low as possible. Once that is done I tell them that I want that price but work it up as a lease?
Yes. However, the "dealer contribution" may be removed at their discretion, and they may try to squirm on MF. Usually the advertised deals are at a reasonable price (ie. not at MSRP). You may be able to knock a little more off if you put in the work. Usually this only comes into play when negotiating outside the listed car.
I'd figure out the Residual %, money factor, and any cap cost reductions applied and go from there. This will also help determine whether leasing is actually a better deal for you. Check out the edmunds forums. They usually have a dedicated thread for each vehicle lease and will list these factors.
Posted on 5/26/14 at 10:13 pm to LSUtigerME
quote:
Check out the edmunds forums. They usually have a dedicated thread for each vehicle lease and will list these factors.
Thanks for the tip. I'm currently checking it out now to get an idea on what the numbers should look like on the items Will Cover laid out.
Thanks everyone for helping me get the ball rolling on this whole process. I'll bump the thread if I have more questions and to give a final breakdown on what we end up doing.
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