Do you feel that lease contracts are straight-forward, or do they tend to be a little slimy where you have to really be on your toes so something doesn't slip by and surprise you later?
In the US, lease contracts are generally straightforward.
Be careful about assumptions though
Leasing can be instructive
I leased an A4 25 years ago. Quattro was a IIRC 8k add. Difference in lease price? ZERO. The value of the car at the end of lease is so much more that it was free
Weird,huh?
A lease is Sales price-depreciation+interest+costs-residual, period
In this case a Quattro depreciates so much less than a 2WD that it overwhelmed the additional sales price and interest
Remember that when shopping
If you might drive more than the lease mileage, AND you never want to buy the car, don't lease
"good" lease deals frequently have ambitious residuals, which is bad if you might want to buy the car
However, if you buy smart or are lucky, the price of the car will drop precipitously while you lease it. Again, weird
It is possible, in this situation, if the car is in good shape, that you can renegotiate the purchase price.
I did not say probable, which is why, don't go over miles, don't get in accidents, be prepared to toss the keys
Most lease cars end up at the auction. If the wholesale auction price is significantly lower than the residual, you have leverage.
The company has to pay to run the car through auction, pay for pickup and then get thousands less than your residual.
You have a contract with a 28k residual, but the current auction price is 22K?
You, saint that you are, offer to give them 24K
They say no, you toss them the keys.
THey were giving 2020 Niros away in early 2021. Killer deal. But then I parked it under an oak tree and let my 18 year old drive it
So I was forced to buy it with no leverage, but the residual was not horrid, and it is not a bad car. The lease was cheap through a buydown, not an ambitious residual
So:
Least amount down, other people's money
3 years 3600down 400 a month is not as good a deal as 3 years zero down 500 a month
The second room: Say no to everything
I let them make me pay 10 bucks a month for an insurance thing, [worn tires, door dings, blah blah blah] well, reading the fine print later, the money limits make it worthless. Oh well, so much for me being a smart guy
Counterpoint, my employee had no credit, bought his Soul some years back, and they made him get the extended warranty. Boy did that pay off. 100 bucks a month in add ons was sooooooooooo worth it.
Again, don't count on things working your way.
Appraise the deal that is in front of you
As little cash as you can put down
My Kia deal ended up being an interest free 3 year loan
So you sit down with the guy that wants to steal your money
Sale price is first negotiation
Lease price might my nationally mandated[bring a printout of the deal with you, I did]
Second room, after you negotiate the first deal, is where you get screwed
That is the only place they can add monthly cost to the nationally advertised deal
Say no
no
no
no