Car leasing is an affordable alternative to buying a new car, and making monthly loan vehicle payments. With a car lease, you would not only be able to save money on car payments, but you would also be able to change cars every few years. To save on costs, it would be advantageous on your part to know the ways on how to get a cheap lease contract.
Negotiating and manufacturer's lease deals
To get an affordable lease deal, you should be prepared to negotiate for a good purchase price. You need to ask for discounts, and applicable re-bates if possible. You need to keep in mind, that the lower, the price of the vehicle is, the lower will be the lease payments. Many inexperienced leases are not aware of the importance of getting an attractive sale price. Thus, many easily fall for assertations made by car dealers to lease a car, based on its full sticker price, claiming that it’s the industry practice. Lease deals from manufacturers
Some of the best car lease deals can be achieved without negotiation or haggle. Car manufacturers are known to offer irresistible lease arrangements, where residuals are set high, interest rates are really low, and re-bates are applied. However, these types of deals are not offered on a regular basis, and often, at times, only have a limited run. The models offered are also not that varied, so your choices are narrow. Many dealerships resort to this kind of promos, in order to move cars during lean periods. You need to keep in mind, that to qualify for one, you typically must have a good credit standing.
Assuming a lease and longer term lease
Take-over someone else’s lease
Another good way to get a good lease deal is to take over someone’s car lease. There are some individuals, who due to financial difficulties, are not able to comply with their lease payments.
To bail-out, they “sell” their contracts to people looking for cars to lease.
What’s good about these types of deals is that you don’t have to make a
down-payment, thereby saving you a lot of money. Also, some individuals are so bent on letting of their cars, that they even dangle substantial cash incentives. Go for a longer term lease Getting a longer term lease would mean lower monthly payments. So, if it’s practical for you to hold on to a car for some time, you can get a longer lease deal.