How to get the most from your car lease

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Leamington GM offers a variety of leasing and financing options on a large inventory of new and used vehicles. To learn more, visit their website.

Transcript of How to get the most from your car lease

Page 1: How to get the most from your car lease
Page 2: How to get the most from your car lease

If you are looking for a car to use for business purposes, car leasing is typically the best option.

While many believe that a lease is far less negotiable than a car purchase, this could not be further from the truth..

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Before you sign on the dotted line you need to make sure you are using your expert business negotiation skills so that you can get the best price and the best lease terms.

Here are several different ways you can negotiate to get the best deal on your car lease

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Dealers markup the price of a vehicle, even when it is being leased.

If you want to lower your monthly payment, the first thing you must do is negotiate the price of the vehicle.

The easiest way to do this is to educate yourself before you take a trip to the dealership.

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If you know what type of vehicle you will be leasing, look up the dealer invoice price of the vehicle.

There are tools on the Internet that will list this price for every vehicle on the market today.

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You should also educate yourself on the incentives and the rebates that are currently available through the manufacturer.

Once you know about the dealer invoice price and the current dealer incentives, you will have more bargaining power.

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While you may not be able to lower the cost of mileage for the lease, you can choose which mileage limit is best based on how often you will be driving.

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You have the option to choose 9,000, 12,000, and 15,000 mile options, with higher mileage options costing more per month.

Just remember that if you choose a low mileage option, you risk the chance of paying a high over mileage payment at the end of your lease.

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It is also a very good idea to find out what the residual value of the vehicle is.

If the residual value of the car is high, the vehicle retains its value better and the cost of the vehicle will be lower.

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Just like you pay interest to finance a vehicle, you are going to pay the lessor interest to lease the car.

Ask the finance manager if the interest is negotiable based on your credit score.

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If this is your first time leasing a car for business, you may not be familiar with all of the fees that you will need to pay.

While the down payment is not typically negotiable, there are fees that are included in the contract that are pure profit for the dealer.

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The acquisition fee, the disposition fee, and the dealer fee are all negotiable, and you should ask the dealer to lower it if they want your business.

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Once you agree on a lower vehicle price and lease terms, it is time to sign your contract. Be sure not to settle for the quoted price for car leasing and lower your business expenses for vehicles and vehicle maintenance.