How does negotiating in auto leasing work?

 

There’s a common misconception that the auto leasing process is not negotiable.

Negotiating auto leasing

While leasing can be significantly different from traditional financing, when it comes to negotiations, the two are quite similar in certain ways. For example, the price of the vehicle and your trade-in, if you have one, are frequently items you can negotiate.

Trade-in value

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 can physically look at your automobile and tell you what it’s worth.

What’s the demand of your desired vehicle?

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. Make sure you do your homework before you go to the dealership. Just like with a trade, edmunds.com and kbb.com can be useful websites to gather data on fair prices for new vehicles.

It never hurts to ask

Something very important to keep in mind is that, if at any point in the process you get curious 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.

Ready to take the next step toward auto leasing? Contact your local FCA US LLC dealer and ask about all the great lease deals that are available. Then get out there and lease yourself a new car!

Negotiating auto leasing