Leasing is another way to finance a car but knowing the best way to lease can be confusing. For some people, this can be a great alternative, depending on their lifestyle and needs. If you have decided to lease a vehicle, the tips below can help you get the best deal:
Pick a Vehicle that Doesn’t Lose Its Value
Leasing a vehicle means paying for its depreciation, plus tax, interest, and fees. Therefore, leasing a vehicle that depreciates less will mean a lower lease payment for you. A vehicle that has a good resale value tends to have a strong residual value which refers to the amount left. When choosing a car to lease, pay attention to this value.
Take Advantage of Leasing Specials
Some car manufacturers decide to advertise special leasing offers for vehicles that are not selling quickly. Such deals offer a lower monthly payment by giving a lower interest rate, for instance. The best deal should not allow less than 12, 000 miles or require a high down payment.
Determine the Car’s Fair Market Value Price
There are many pricing websites you can refer to in terms of a cars’ fair market value sales price and invoice price. The latter price refers to the amount that the dealer paid for the vehicle. This may represent the lowest price you may find. But, on a number of models, the dealer could price the vehicle even lower than the invoice price because of some factors like customer cash rebates.
Obtain Various Quotes from Different Dealers
After you have a target sales price, get in touch with many dealers and request for quote. Ask them if they have the vehicle you want in stock. This is the perfect opportunity to ask for their best sales price without mentioning your intention to lease.
Choose the Best Deal
You can easily spot the best deal by looking at the amount the dealer charges over the invoice price. Although there is a change in the total price, how it compares to the invoice price discloses the best deal. The best deal comes from getting the best price for the car that you want. Thus, if you prefer to lease a Ram truck, ensure you know the 2019 Ram Truck Specs & Features before you make your final decision.
Talk to the Dealer about your Intention to Lease
Now that you have picked the car that has the best selling price and your preferred features, it is time to discuss lease payments with your dealer. Ask them to provide you with lease payments at the quoted sales price.