If you are sold on a car and want to sit down and go over the numbers you’ll need to ask some direct questions. What is the list price (The MSRP) of the car? This is the sticker on the window. What is the discount, the selling price? What would my payments be if I leased the car? Its VERY important to know how many miles you drive a year. The lower the miles, the cheaper the payment. For every thousand dollars I put down on the lease how does it effect my payment? Make sure that they calculate the lease on the discounted price they are willing to sell you the car for. What is the residual, the value of the car at the end of the lease?

There is always room to negotiate on the lease payment.

If they say do we have a deal or do you want to take it today you say…” I would consider leaving you a deposit but you will have to do better on the numbers.” Let them come back with a better payment.

You then say “you’re still to high.”

When the salesperson says there is no more room or no more money to be discounted then you know that you are at the bottom. You can think about it overnight, thank them for their time and tell them you will speak to them tomorrow. Smile, stand up and offer your hand.

Or you can leave a deposit, a few hundred dollars, and leave with a buyers order and more of a commitment. You can still cancel if you change your mind. However, the buyers order must have the vehicle identification number or VIN number. The term of the lease, the miles, the residual value, the color, model number, and all equipment that was agreed upon. I would also make sure that the deposit is refundable and that the dealer put that on the buyers order. Then you can sign the order and get a copy.

Tags: Advice, Guides, Leasing // 3 Comments »