How can i get the best car lease terms?

Answer 1

The best car lease terms is not leasing it. Buy it. Always better deal that way.

Answer 2

well, as told to me by a friend who owns an auto dealership,

1. Never put any money down on the lease> due to the fact, that that money is not taken off the front end price or the car or the back end price, and it is just a lost of money that you can probably use some place else.

2. Never lease for more than 2 years. The longer the lease the more cost at the end of the lease. Remember, they charge you for mileage of a certain number of miles during the lease.

3. your better off financing the car and buying it, yes, the payments will be cheaper, and if you put a down payment on it, then the dealership, bank, etc, will take it off the price of the car, where in a lease, they won't.

4. Remember, that once the lease period is up, you still do not own the car, therefore if you put any extra's in the car, like a better stereo system, wheels, etc, they belong to the lease company at the end of the lease.

So save your self some money, Finace the car to buy it, it helps build up your credit record, and you own the car after it is paid off.

So, why invest all that money into a lease, when in the end you will have nothing to show for it.

Answer 3

In a lease you are paying for the depreciation of the vehicle, the dealer profit and the time value of the money (called lease factor, you might know it as interest).

In general, cars that have the best resale value make the best leases since they have less depreciation. Look around the Internet, dealer websites and manufactures websites for special lease rates, etc.

In the past, the car companies would sweeten a lease by increasing the residual value (they calculated the make would be worth 57% in 3 years they would add 3% incentive and calculate the residual at 60% to make the lease cheaper) and decrease the lease factor (similar to zero or 1% financing). This has become less and less frequent because of losses taken by the car companies when they have to dispose of the unit after lease end.

Don't just look at the payment. They use terms like gross cap cost, cap reduction and lease factor to disguise how much you are paying for the vehicle. If you wouldn't purchase a vehicle at the price, why would you lease it for that price?

Cap cost reduction (similar to down payment) is just prepaying monthly payments.

Lease factor, it doesn't need to be disclosed on the contract, can be converted to interest rate buy multiplying it by 2400.

You can usually buy extra miles upfront if you know you are going to go over the mileage allowed by the lease, and they are often significantly cheaper than mileage penalty imposed at lease term.

Answer 4

If you don't drive much at all ... but you're still basically making a down payment on a car that you are only leasing, so you still get screwed in the end. Leasing is a rip off pretty much as much as car insurance is.

Answer 5

make sure you know what kind of lease it is, some car dealers have in house and set their own residuals, residual is the predetirmined price of the vehicle after the term. on a 3 year low mileage it'd be like 50%, yikes that is scary stuff you have to know the residual, usually its the motor company that sets the residual and the rate, three years usually works out best, waranty coverage, not too long to have the car and lotsa bonuses. www.northstarford.ca, if your in northwestern canada if not I handle online leads there and ask any questions i'll point you in the right direction.

Answer 6

the cars with the highest residual values, like hondas and toyotas for non luxury are the best lease deals. As long as the money factor is reasonable.