How to Negotiate a Lease & Car Deal

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If you are interested in getting a new car but do not want to buy it, you can lease it instead. With a car lease, you have monthly payments just like if you were to get a loan to finance the new car. The difference is that at the end of the lease term you either give the car back to the dealer or buy it from the dealer. Typically you need to have top-tier credit to qualify for a car lease. If you have good credit, you can negotiate a lease at a local car dealership.

  • Determine how long of a lease you need because a car lease comes with an allotted amount of miles for each year. Going over those miles is costly. You can use the number of miles on your current car as a guide of how much driving you do. Typically you can get between 10,000 and 15,000 miles per year on a lease. The length of a car lease can be between 24 months and 48 months.

  • Enter in your zip code and select a car make and model on the True Car website (see Resources) to see what people in your local area are paying for the car that you want to lease. This gives you a good idea of how low you can negotiate and when you are paying too much for the car.

  • Contact the car dealers in your area to get a bid on a lease for the car that you are interested in leasing. You can do this by phone or online through the dealership's website. Let the dealers know how many months you want the lease for and how many miles you need for each year.

  • Look at all the bids you get and pull out the lowest bid. You can use this bid against all of the other dealers to see if they will offer to beat it and give you a lower price. If not, you can get your car from the dealer that offered the lowest bid.

  • Visit the car dealer that offered you the lowest bid to sign your lease agreement. Carefully read over the agreement to make sure everything that was previously agreed to is listed in the lease agreement accurately. If everything is correct, you can sign the lease agreement. If not, you can ask for changes to be made before signing it.

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