- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Tips for negotiating a car lease
Posted on 12/10/24 at 11:24 am
Posted on 12/10/24 at 11:24 am
I’ve read through Will Cover’s car buying guide (and even used it myself to great success), but I’ve never once leased a car. My gf is wanting my help with leasing a car, and I’d like to not look like a total dumbass in front of her as I’ve only ever bought cars so don’t have a clue what you can and can’t negotiate for a lease.
Anyone have a lot of experience and know how to handle lease negotiations?
Anyone have a lot of experience and know how to handle lease negotiations?
25
Posted on 12/10/24 at 11:25 am to NolaLovingClemsonFan
quote:
a car lease
Dont
Posted on 12/10/24 at 11:26 am to NolaLovingClemsonFan
quote:
Tips for negotiating a car lease
1. Purchase lube
2. Practice bending over
Posted on 12/10/24 at 11:28 am to NolaLovingClemsonFan
yes I have leased quite a few cars. understand that not every car is a good candidate for a lease. I would recommend that you go to leasehackr.com and read the forums there and determine if the car you want is a good lease.
also there are some guides there to help you understand the verbiage in a lease and how a lease works.
also, if you want to pay for a lease broker, sometimes you can get much better deals than if you negotiate the sale yourself. not every dealership does alot of leases so they may be as clueless as you. the broker will work directly with a dealer that has already agreed to give great deals so it is a hassle free lease.
also most hybrid or electric cars are good lease candidates right now because they are moving slow on the lots and there will be a 7500$ price reduction because of the tax rebate. add in incentives from manufacturer and the dealers price reduction and you can easily get to 10-20k off of msrp. the other factors that will determine if the lease will be good or not is the money factor(interest rate) and residual value(what the car is worth at the end of the lease). so thats why i say it depends on the car. if a car doesnt have good resale value then it likely wont be a good lease candidate unless there is a huge amount off of the msrp and/or the moneyfactor is low.
so all of that comes into play and you can learn all about it and get the best possible help at leasehackr.
leasing can be a great option if you like to change cars, dont want a particular car, and are open to different colors and options. if you want a specific car, it probably isnt gonna work out.
I have paid as low as $300 a month for a 36 month 12k miles a year lease on a 63k vehicle.
also there are some guides there to help you understand the verbiage in a lease and how a lease works.
also, if you want to pay for a lease broker, sometimes you can get much better deals than if you negotiate the sale yourself. not every dealership does alot of leases so they may be as clueless as you. the broker will work directly with a dealer that has already agreed to give great deals so it is a hassle free lease.
also most hybrid or electric cars are good lease candidates right now because they are moving slow on the lots and there will be a 7500$ price reduction because of the tax rebate. add in incentives from manufacturer and the dealers price reduction and you can easily get to 10-20k off of msrp. the other factors that will determine if the lease will be good or not is the money factor(interest rate) and residual value(what the car is worth at the end of the lease). so thats why i say it depends on the car. if a car doesnt have good resale value then it likely wont be a good lease candidate unless there is a huge amount off of the msrp and/or the moneyfactor is low.
so all of that comes into play and you can learn all about it and get the best possible help at leasehackr.
leasing can be a great option if you like to change cars, dont want a particular car, and are open to different colors and options. if you want a specific car, it probably isnt gonna work out.
I have paid as low as $300 a month for a 36 month 12k miles a year lease on a 63k vehicle.
This post was edited on 12/10/24 at 11:43 am
Posted on 12/10/24 at 11:29 am to NolaLovingClemsonFan
quote:
Tips for negotiating a car lease
Tip 1: Buy a car instead
Posted on 12/10/24 at 11:43 am to NolaLovingClemsonFan
Although I love car leases, not all cars lease well. A lease payment is calculated from purchase price, lease end value ( residual ), lease rate ( money factor ) plus tax on payment. In addition, milage allowed per year ( 10k, 12k, 15k ), more miles higher the payment.
Cars with a high resale lease best. Negotiate the purchase price, then get a lease quote based on avg miles driven & lease term. GL
Cars with a high resale lease best. Negotiate the purchase price, then get a lease quote based on avg miles driven & lease term. GL
Posted on 12/10/24 at 12:25 pm to diat150
quote:
I would recommend that you go to leasehackr.com and read the forums there and determine if the car you want is a good lease.
Will dive into this right away, thanks!
quote:
also most hybrid or electric cars are good lease candidates right now because they are moving slow on the lots and there will be a 7500$ price reduction because of the tax rebate. add in incentives from manufacturer and the dealers price reduction and you can easily get to 10-20k off of msrp.
Interesting. I had done the research and read about lease value being driven by the residual value that you mentioned. I’m surprised this means EVs are a good value as I always thought their values crater bc of the battery life being a killer and once it’s dead it’s a fortune to replace. Is that not true?
Posted on 12/10/24 at 12:35 pm to NolaLovingClemsonFan
You should dump her
Leasing is a terrible financial decision
Leasing is a terrible financial decision
Posted on 12/10/24 at 12:48 pm to NolaLovingClemsonFan
quote:
Interesting. I had done the research and read about lease value being driven by the residual value that you mentioned. I’m surprised this means EVs are a good value as I always thought their values crater bc of the battery life being a killer and once it’s dead it’s a fortune to replace. Is that not true?
like I mentioned you will get a cap cost reduction of 7500 for the EV rebate(from most manufacturers anyway). so lets say a jeep grand cherokee hybrid value is 3000 less than its gas counterpart at end of lease, you still come ahead 4500. thats a simplistic way of looking at it I guess... but if you get on leasehackr and look at deals and read up on everything you will see everything I have talked about.
Posted on 12/10/24 at 12:50 pm to NolaLovingClemsonFan
quote:Pics of her to determine residual value will be appreciated.
My gf is wanting my help with leasing a car
Posted on 12/10/24 at 12:52 pm to el Gaucho
quote:
Leasing is a terrible financial decision
I would not have married my wife if she leased a car or even brought up the idea of leasing a car as it is moronic.
Posted on 12/10/24 at 12:52 pm to soccerfüt
gf is wanting my help
she should not need your help, she just needs to do her thing
she should not need your help, she just needs to do her thing
Posted on 12/10/24 at 1:15 pm to diat150
quote:
like I mentioned you will get a cap cost reduction of 7500 for the EV rebate(from most manufacturers anyway). so lets say a jeep grand cherokee hybrid value is 3000 less than its gas counterpart at end of lease, you still come ahead 4500. thats a simplistic way of looking at it I guess... but if you get on leasehackr and look at deals and read up on everything you will see everything I have talked about.
10/4, on it. Thanks!
Posted on 12/10/24 at 1:30 pm to NolaLovingClemsonFan
6 years ago I went with my dad to lease a vehicle. He used to sell cars and knew their lingo.
I kid you not. He acted like a total douche, but it worked. He wrote down the monthly note we were willing to pay (this was my first vehicle so my budget was lower than what they wanted to charge). when they kept asking him how we got to this number, he'd simply point to the number on the piece of paper and say "thats our budget". This went back and forth between him/sales guy, him/finance guy, and eventually the branch owner came out, to which he said the same thing and acted the same way to the owner. He somehow knew they'd want to get the car off of the lot, so they took the smaller note, and I got the car I wanted.
3 year lease was paid off, then I financed to own it for the same monthly note on a 6 year loan.
It was super awkward and the branch owner was probably pissed but we got the car at the rate we asked.
I kid you not. He acted like a total douche, but it worked. He wrote down the monthly note we were willing to pay (this was my first vehicle so my budget was lower than what they wanted to charge). when they kept asking him how we got to this number, he'd simply point to the number on the piece of paper and say "thats our budget". This went back and forth between him/sales guy, him/finance guy, and eventually the branch owner came out, to which he said the same thing and acted the same way to the owner. He somehow knew they'd want to get the car off of the lot, so they took the smaller note, and I got the car I wanted.
3 year lease was paid off, then I financed to own it for the same monthly note on a 6 year loan.
It was super awkward and the branch owner was probably pissed but we got the car at the rate we asked.
This post was edited on 12/10/24 at 1:32 pm
Posted on 12/10/24 at 1:31 pm to el Gaucho
quote:
Leasing is a terrible financial decision
To make this a blanket statement is just wrong. There are situations where leases make perfect sense.
Posted on 12/10/24 at 1:56 pm to NolaLovingClemsonFan
This is a good time of year to lease...you have to know all the pieces that go into the formula, and understand residual value, money facto (defacto interest rates), how taxes are figured in according to the state in which you live and allowable miles.
Sometimes advertised lease deals are a good jumping off point. Contrary to what some are going to tell you, a lease can make sense, especially if you prefer to drive a car that is always under warranty.
You may find that you need to identify similar models from different brands and be flexible based on the lease specifics.
You have to understand that the dealer has the ability to squeeze more $$ out of you than what the manufacturer may actually be offering from the baseline of the lease.
I have 5 cars to my name, I have the titles to 4 of them from 2019-2023 models and one is leased. The leased one is the most expensive one, but also from a manufacturer that will do aggressive lease deals.
You should be able to negotiate cap cost reduction (selling price), money factor (interest rate) and allowable miles, though likely not every one of them. They will have to have some wins as well. Residual value is going to typically be a percentage of Cap cost reduction and I have never been able to negotiate that, but that doesn't mean it can't be done.
Most importantly, I would not do a bad lease just to get a lower payment. If it stinks, consider an alternative way to acquire what you want, or look at a different brand.
Again, a lease is not inherently bad, but I do think it is easier for dealers to structure it in their favor. I am fiscally responsible and careful with my money, plan for things and generally don't do stupid things with our hard earned money, but am not afraid to lease as long as it is not a screw job. You (or your GF in this case) can really make it make more sense if you do something to grow the money you don't spend up front on a car when/if you do lease.
Sometimes advertised lease deals are a good jumping off point. Contrary to what some are going to tell you, a lease can make sense, especially if you prefer to drive a car that is always under warranty.
You may find that you need to identify similar models from different brands and be flexible based on the lease specifics.
You have to understand that the dealer has the ability to squeeze more $$ out of you than what the manufacturer may actually be offering from the baseline of the lease.
I have 5 cars to my name, I have the titles to 4 of them from 2019-2023 models and one is leased. The leased one is the most expensive one, but also from a manufacturer that will do aggressive lease deals.
You should be able to negotiate cap cost reduction (selling price), money factor (interest rate) and allowable miles, though likely not every one of them. They will have to have some wins as well. Residual value is going to typically be a percentage of Cap cost reduction and I have never been able to negotiate that, but that doesn't mean it can't be done.
Most importantly, I would not do a bad lease just to get a lower payment. If it stinks, consider an alternative way to acquire what you want, or look at a different brand.
Again, a lease is not inherently bad, but I do think it is easier for dealers to structure it in their favor. I am fiscally responsible and careful with my money, plan for things and generally don't do stupid things with our hard earned money, but am not afraid to lease as long as it is not a screw job. You (or your GF in this case) can really make it make more sense if you do something to grow the money you don't spend up front on a car when/if you do lease.
Posted on 12/10/24 at 2:17 pm to NolaLovingClemsonFan
Yeah, don’t
Posted on 12/10/24 at 2:39 pm to NolaLovingClemsonFan
Don’t lease
Posted on 12/10/24 at 3:06 pm to NolaLovingClemsonFan
Get them to throw in a Reach-a-Round...
Posted on 12/10/24 at 3:39 pm to NolaLovingClemsonFan
Leasing a car is fricking retarded. Don't do it.
Page 1 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News