How to Successfully Negotiate the Terms of Your Car Lease
Did you know that you can negotiate the value of the vehicle, capitalized cost reduction, length of the lease, mileage allowance, and options and equipment when youre leasing a car? Heres all you need to know to get a great deal.
The agreed-upon value of the vehicle just as you can negotiate the price of a vehicle when you buy it, you can negotiate the value of a vehicle when you lease it. The agreed-upon value of the vehicle is the primary component of the gross capitalized cost, so the lower this value is, the lower your monthly payments will be.
Manufacturers, dealerships, or lessors sometimes offer special incentives that reduce the agreed-upon value of the vehicle. If this is the case, you may not have much room to negotiate.
In any price negotiation, it helps to know the lessor’s cost for the vehicle. You can get dealership cost information from a variety of sources on the Internet and from publications that are available in most public libraries. Use this information to help you negotiate the agreed-upon value of the vehicle.
The capitalized cost reduction (cap cost...
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