Finding cheap car leasing has advantages and disadvantages. As with any shopping research, there are some tips you’ll want to be aware of before making any final decisions. Leasing a car can be beneficial and cost-effective, but there are pitfalls to avoid as well.
1. Manufacturer Car Lease Deals
Some of the best deals for cheap car leasing come straight from the manufacturer. While you do have the option of negotiating the sticker price for a lease, just as you do for a purchase, manufacturers will often set up limited-time promotional deals as an incentive to get people into a lease. You can search for these competitive car lease prices by checking newspaper or television ads. Generally these lease deals are not dealership specific, but they may be make/model specific.
2. Credit Score
Often, your credit score will be a factor in cheap car leasing. If you are what is generally considered a well-qualified buyer, with a credit score of 680 or higher, you will likely be eligible for the cheapest car lease rates available. Being aware of your credit score before shopping for a lease can not only provide you with a tool for negotiation, but can also help you to understand what level of leasing rates may be available to you.
3. Research and Comparison
Researching cheap car leasing by comparing car lease quotes is one of the best ways to ensure you are getting the best deal for your money. It’s important to compare the monthly lease payment amounts, and also any down payment requirements, available rebates, mileage restrictions, taxes and dealer fees. You may also want to become aware of the residual values of the particular models you are considering. The residual value of a vehicle can mean significant differences in monthly lease payment.