How to Find the Best Car Lease Deals

by Shanan Miller

There are always commercials that advertise car leases and low prices. However; don't count a car out just because the lease isn't advertised as "aggressive," or a low payment shown to entice you. Some dealers have their own lease specials, in which a vehicle is advertised locally at invoice price with little or no money down. Inquire about competitor's vehicles as well as the ones you see advertised. Also, advertised prices are usually at the dealers MSRP (Manufacturer's Suggested Retail Price), so don't be afraid to negotiate.

Visit manufacturer websites. Look for a section called "lease incentives" or "rates and programs," or something similar. All monthly advertised lease specials are listed. If you see no lease specials next to a particular vehicle on the website, it is most likely unavailable for leasing. You can call a dealer to confirm.

Read the small print and confirm that the vehicle advertised for lease is the one you want. Often, the low, advertised lease price is the lowest trim level available for that model. Read the leasing terms, paying close attention to contract term and mileage restrictions. Some advertised leases are for the longest term with the least amount of miles per year available. Most importantly, a low lease price sometimes requires a large down payment. Read everything and determine if each car is a suitable lease.

Call dealers to confirm advertised lease prices, and if you want a different level of the model advertised, tell the sales representative to run you the lease numbers. If you want to put less money down, you may. Tell the sales representative your desired amount down for the purpose of running numbers. You don't have to put any money down beyond your first payment, although the monthly payment increases.

Compare all lease numbers that you have written down. Once you have a list of all suitable vehicles listed with pricing, you are ready to shop. It is courteous to schedule an appointment with the sale representative who originally ran your leasing numbers for you or to stop in and ask for her.

Negotiate after you have determined which vehicle(s) you want to lease. Keep in mind that every thousand dollars down toward a lease is equal to a roughly $30 rate drop. Also, consider dealer pros and cons when you decide on your final lease. One dealer may be closer than another, while one may offer a longer warranty or additional maintenance program. Use dealer benefits as well as price to determine your best deal.

Tip

  • check You can email lease requests rather than call the dealer. Still, try to do business with the person who helped you.

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About the Author

Shanan Miller covers automotive and insurance topics for various websites, blogs and dealerships. She has extensive automotive experience, including auction, insurance, finance, service and management positions. Miller has worked for dealer sales events around the United States and now stays local as a sales and leasing consultant for a dealership.

Photo Credits

  • photo_camera computer image by Orlando Florin Rosu from Fotolia.com