Are you ready to go out and lease a vehicle yet? Still feel like you’ll get a better deal with traditional financing? That may be because of the common misconception that leases are not negotiable. But, they are. When it comes to negotiating, how does auto leasing work?
As you already know from How does auto leasing work? Part 1 and Part 2, leasing is significantly different from traditional financing. But when it comes to negotiations, there are parts of it that are quite similar. For example, the price of the vehicle and your trade, if you have one, are frequently items you can negotiate.
Let’s talk about your trade first. You need to have a clear, realistic idea of what it’s worth going into your deal. Websites like edmunds.com and kbb.com can give you a good, general idea, but keep in mind that those are just estimates. They can’t compare to an expert who is in the field, inspecting vehicles every day that physically looks at your vehicles and tells you what it’s worth.
When it comes to negotiating price, it’s important that you understand the demand of the vehicle you are leasing. Why? Because if you are about to drive off in the hottest thing on the market, you should expect to pay sticker price. Vehicles that are extremely popular and/or in limited production don’t stay on the lot long and, to be completely honest, if you’re not willing to pay sticker price, the next customer will.
Vehicles that are mass produced and more readily available are easier to negotiate. Do your homework before you go to the dealership. As with a trade, edmunds.com and kbb.com can be useful websites to gather data on fair prices for new vehicles.
Something very important to keep in mind is that, if at any point in the process you have a question or are confused, ASK QUESTIONS. This is about to be your vehicle and your contract. The sales and finance consultants are there to help walk you through the process and ensure you are comfortable. And, when it’s time to turn this vehicle in and lease a new one, they want you to remember their exemplary service and ask for them by name.
I guess the only question left to ask is, what are you waiting for? Contact your local Chrysler Group dealer and ask about all the great lease deals that are available. Then get out there and lease yourself a new car!