How to Negotiate an Auto Lease

Auto leases are ideal for people who prefer driving a new vehicle every few years. Leasing a vehicle can be less expensive than buying one. To get the best price and payment on a lease, you'll need to sharpen your negotiating skills and learn the ins and outs of car leases.

Difficulty: Moderate

Instructions

Things You'll Need:

• Credit Report Down Payment

1. Improve your credit score. The best price is only one aspect of a car lease. The interest rate impacts your monthly payments; to keep your rate low, make credit improvements. Reduce debts, pay your bills on time and check your credit report for errors.

2. Visit three or four local dealerships and compare lease prices. You can find the car's market value from Edmunds.com or Kelley Blue Book. Pick the dealership with the best offer.

3. Negotiate the lease price. The lower the lease price, the lower your monthly payment. If dealership prices are comparable, choose a dealership and negotiate the lease price. Inquire about rebates, discounts or incentives. Determine the maximum amount you're willing to pay, and stick with this decision.

4. Save money for a down payment. To negotiate a lower interest rate on a lease, apply with a down payment. This lowers the lease price and reduces the monthly payment.

5. Select a lease term. Longer lease terms feature lower payments. Shorter leases feature lower interest rates.

6. Take mileage into consideration. The standard lease agreement allows you to drive 12,000 miles a year. You'll pay (on average) 25 cents for every mile that exceeds the limit. To avoid an excessive mileage fee, purchase additional miles.