Finances

Leasing a car? Here’s how to negotiate the best deal

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This guide outlines the strategies you should use to get a good deal when leasing a car.

When you are leasing a car, you don’t have to worry about buying it and selling it later – this way, you’re only bearing the risk of fuel and maintenance costs. There are many ways to find a great leasing deal – one of these is by first understanding what kind of vehicle you want. To find the best deals, you could even start with cars that are at least two years old as they have already depreciated significantly in value.

Leasing a car: how to get the best deal

Here’s a list of things you need to know.

1. Go For Certified Dealers

When leasing a car, you first need to find the best deals. One way of doing this is by going through certified dealers. They will be able to give you more information on what your options are, and if the deal seems sound, they’ll prepare all the necessary paperwork for you to sign.

You can get an instant cash offer according to this dealer which is great because it allows you to compare and negotiate with other dealers. This is not the only way you can get a good deal leasing a car, though, as you can also find great deals online or through your local dealer.

2. Do Your Research

Either before or after you’ve talked to a dealer, do your research on leasing a car – check out how much you’ll be paying for insurance on one of the many sites online that can inform you of this information. Also, calculate the gas costs on the car you’re considering buying or leasing to ensure that it will be affordable for you.

Check out what other people in your area are paying for insurance and compare it with this information – if there’s a big difference, then that might be an indication of overpricing.

3. Visit Many Dealerships If Necessary

Don’t settle for one dealer – visit many dealerships and get quotes from them even if they seem like similar cars and prices. You can use the quote you got from one dealership as a bargaining chip in leasing a car when negotiating with another dealership.

Your best bet would be getting cash offers because these tend to give you more room to negotiate your price. If you’re going to use a loan, make sure you have good coverage for the loan and that you have a payment plan.

4. Go For Used Cars

Used cars are a great option when considering getting a good deal leasing a car, so check out your local classified sites for any used car auctions in your area. You might be surprised by how much money you can save with a used car that is still in excellent condition within its mileage allowance! Also, check out your local dealer and go through their used car inventory or check online for cars that come with a free warranty.

5. With A Good Deal, You Can Negotiate Better Payment Plans

If you manage to get a great deal leasing a car because of the information above, you should try to negotiate payment plans with the dealership. If it’s not possible, then shop around for other dealers who might be able to give you better payment deals.

Once again if you’ve got an instant cash quote from a certified dealer, then use this as leverage when talking about payment plans – sometimes they can’t say no! Keep in mind that the best deal is the one where you pay for your car in full, without paying too much.

6. Don’t Compromise On The Condition Of The Car

The condition of the car will affect how much it should be worth, so make sure that you choose a model that is in excellent condition when leasing a car. This way, you won’t have to worry about high repair costs and high insurance rates if there are any damages to this used car. Again, check out what other people pay for insurance and compare this with your proposed plan – even if the car looks good on paper, do not compromise as it might end up costing you more later!

Also, some leases come with additional costs such as the first month’s payment, deposit fee, and acquisition fees which can all add up to a significant amount. Make sure that you include these additional costs in your budget, as well as any other costs that might apply to the type of lease you’re planning on getting. 

What to look for when leasing a car that is used

It is extremely important that you perform a test on a semi-new or used car, being even more vital than in a 0 km car (in this situation, you will probably perform the test on a car of the dealership itself and not on what you can acquire).

However, enter into an agreement with the dealer for you to drive through a considerable stretch, so that you can analyze the positive and negative points of the car.

Incidentally, you may even purchase the first car you come across, but after doing the research with other models. It is very easy for you to find in another store a car of the same model, in some cases even younger, in a better state of conservation and with more equipment, for a cheaper price than the previous ones.

Watch out for signs of a crash

You can’t say with conviction that a used car didn’t go through a crash. However, it is recommended to check the alignment of the hood, doors and trunk cover, state of door screws and covers and possible irregularities in the painting of the body and other components. To do this, the car needs to be dry and clean and in a well-lit environment, preferably during the day.

In addition to the “aesthetic” part, also keep an eye on the internal finish, such as the state of the seats, scratches on the plastics of the finish, the condition of the ceiling lining and the predominant smell of the cabin (which will show you right away is a smoking car, for example).

Observe the mechanical parts

In addition to the look and internal finish, another point that must be seen before leasing a car is the mechanics of the vehicle. It is recommended to take a reliable mechanic in the store to do the inspection for you or, if this is not possible, take the car to a specialized workshop.

It is important to keep an eye on the suspension (when passing through a hole, for example), pedal clearance, noise levels in the cabin, steering wheel and gear lever vibration, among others.

Check the mileage

Unfortunately, there are a number of mechanisms that can change the mileage displayed on the dashboard of the car. However, in many cases it is possible to check the mileage to see if it “hits” the general condition of the vehicle.

Visual, finishing and mechanical inspections should also be performed in this case, as well as items such as headlights, brake lights, direction indicators, windshield wipers and windows.

Give preference to cars with the owner’s manual

After inspecting all visual, finishing and mechanical items, open the glove compartment or ask the seller for the vehicle owner’s manual. In it it is possible to verify that the previous revisions were carried out correctly and if a possible recall was carried out, either through a document issued by the authorized or by the letter of convocation.

Check the vehicle numbering

Every vehicle has a chassis number, which is nothing more than a combination of 17 characters, between numbers and letters, which is part of an identification generation system. Therefore, through it, you can check the car history. This number can be found on the car windows, driver’s door, engine compartment and below the passenger seat.

In some cars there may be a rescheduling of the chassis number, due to problems that prevented its visualization, such as rust, or even extreme cases, such as when a vehicle is recovered from a theft or robbery in which the original numbering has been tampered with.

Conclusion

Make sure to look for discounts and deals before starting your search for a good vehicle leasing deal. Your car buying process doesn’t have to be difficult. You might be surprised by how much you can save if you’re smart about leasing a car and do your research first!

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