Car Leasing 401 - Summary Tips on Negotiating a Car Lease

Car Lease Negotiating - Summary

• If you become tired, confused, intimidated, or pressured during negotiations, take a break, re-collect yourself or walk away.
  
• Never, let the seller, or dealer, know what monthly payments you can afford
  
• Never negotiate monthly payments, always negotiate price
  
• Always check any figures the dealer calculated against your figures – especially the monthly payments (define: base monthly payments)
  
• Generally, it's best to deal at the end of the day, at the end of the month, on a weekday, on a rainy day, or any slow period
  
• Lease prices are negotiable – regardless of what the dealer tells you
  
• Ensure you know the dealers invoice (define: dealer invoice) price for the car you want
  
• Check to see what you’re car trade-in value is worth before seeing the dealer
  
• Don't sign any kind of "purchase/lease agreement" until you've settled on a deal
  
• Retain your emotions for the car that you want. Don’t let the dealer know just how much you want it.
  
• If at anytime you’re uncomfortable with the sales person, negotiations, the process, feel free to walk away anytime or address the problem directly.
  
• Always know your bottom line and know the fact you can walk away from negotiations at any time
  
• Never place a deposit on car during your negotiations with the dealer
  
• Don’t hide your knowledge of the vehicle or about leasing a car. Let the dealer know up front that you are knowledgeable about leasing
  
• Never negotiate down from sticker price, always negotiate price UP from dealer's cost
  
• Don't agree to extended warranties, credit insurance, or add-on services

Part III: After the lease deal is done