Auto Leasing Secrets
When leasing a car, you negotiate a purchase price with the dealer just as you would if you were buying. Unfortunately, many aspects of leasing are not well known to consumers, so it is easy for less than honest dealers to state things that are not true during the deal.
For example, some dealers may state that during a lease, the price is always full sticker price, and there is no room for negotiation. This is false, puts more money in the dealer’s pocket, and cheats the customer out of the best deal.
There are plenty of auto leasing secrets the dealers do not want you to know. Many consumers do not realize that once a contract has been signed for a lease, the dealership sells the car to the leasing company. You do not pay the dealership your leasing fees. The price you pay is determined by the price the leasing company paid for the car, so it is in your best interest to try for the lowest price possible.
Most times, the dealership has one or two leasing companies that they work with. These companies pay the dealer a commission for providing customers to them, putting more money into the pockets of the dealer. This is an agreement between the dealer and the leasing company, not you! You do NOT have to use the leasing company provided by the dealer, as they may claim you do. Customers have the right to search out their own leasing companies for the best deal, and then take that approval to the dealership.
Auto leasing secrets do not always start and stop within the dealership. Most times, it is a very good idea to begin the process at home before you even think of going to the dealer. Run a financial forecast and decide how much per month you can afford, then begin searching for a few car options.
Know the MSRP of the cars, then run the numbers with a finance calculator to find one or two options that fit perfectly in your budget. Understanding what you can afford, and what you should be expected to pay before stepping onto the auto lot will keep the power in your hands.
Remember that the sales representative is simply there as a middle man to help you look for a car. Your true dealings are going to be with the dealership’s finance representative and the leasing agency. Do not let the sales person try to speak to the finance person without you, and be sure to ask the finance department to show you all the numbers before you sign anything! These are just a few auto leasing secrets that can save you money and stress.
