If you are looking at getting a car lease, then it would be advantageous on your part to look for good deals. By being a savvy, you can walk away with a great deal and save money in the process. To get the best lease arrangements, it is essential that you take time to look into different factors and variables.
Research and negotiate
One of the first things which you need to do when looking for great car lease deals is to conduct research. Fortunately, with the advent of the Internet, researching for leases has never been easier. The first thing which you would want to look for when you are researching is a vehicle with a high residual value. The residual value The residual value of an automobile is calculated at the end of a lease term. When you lease a vehicle, you are effectively paying for its depreciation and use over a fixed period of time. By getting a car which has a high residual value, you would end up paying lesser lease fees per month. Negotiate for a low price Your next step would be to negotiate for a lower cost or price. All new vehicles have an MSRP (Manufacturer's Suggested Retail Price). Try to cordially ask the salesman for a discount or special rate for your leased vehicle. If he gives in and gives you a lower quote, then you would be able to pay a monthly lease fee which is lower than what is standard.
Credit score and alerts
Know your credit score
Get a copy of your credit report from any one of the three big credit reporting agencies (Experian, Equifax or TransUnion) so that you can check and correct inaccuracies prior to you getting a car lease. You do not need to always spend money on credit reports as by law you are entitled to one free credit report per year from each of the three major credit reporting agencies.
Keep in mind that the higher your credit score, the better lease deal you can get. If you are able to get hold of your credit report, you would have the chance to address issues, as well as rectify inaccurate entries. In the end, when the time comes for you to get a car lease, you would be in a better position to get a great deal.
Sign up for alerts and notices
Many car leasing companies offer free alerts to customers regarding future special deals. Sign up for alerts or notices which will be forwarded to your email inbox. By doing this, you would know in advance if a leasing company has a special offer or rate coming.