How to Negotiate a Car Lease Like a PRO!!!
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- Опубликовано: 10 сен 2024
- Do you wan to know how to negotiate a car lease like a PRO? Watch this! All my recommendations 👉🏾 bit.ly/naamwynn
In todays video I will go over the exact steps I take when negotiating a car lease! There are 2 principles that that I follow when getting the best price.
1. Research
2. The actual negotiation
Research is the most important principle to follow if you're looking to get the best deal. Knowledge will be your leverage in a negotiation. The more you know the better! The research you conduct beforehand will be your ammunition for this battle.
The key thing I look at during the research process is what deals others are getting. Know what others are getting will give you a baseline of prices and give you a better insight on how lower a dealer may lease a car out to you.
Double-check people's deals by identifying where was the deal done, the terms and money down.
Next look for cars with lots of discounts or rebates. This will help you get the lowest price. Knowing your numbers is key to get the best lease. Getting the car to the residual value as close as possible will determine your least payments.
Negotiation is not for everyone, but if done correctly it will be a big factor in the final price. Do everything via email, text or phone. Never step foot into a dealership.
The more specific you can be in your emails or message the less time is wasted and gets straight to the point. I will go over exactly what I email sellers.
If negotiating is not your forte, then let a broker or app do it for you. I will go over where to find these brokers and go over the app that I have used to get deals.
The last thing is to make sure to look over the final contract. Dealerships make mistakes too. Don't let their mistakes cost you money!
Websites mentioned:
Edmunds Forums: forums.edmunds...
Leasehackr Forums:
forum.leasehac...
Honker App (RODO name change)
refer.rodo.com...
Videos mentioned:
• Leasing Secrets: How I...
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Tags: How to Negotiate a Car Lease,How to Negotiate a Car Lease Like a PRO,how to get the best price for a leased car,how to negotiate car lease,how to lease a new car,how to lease a car,car leasing 101,leasing a car,leasing a vehicle 101,car dealership negotiation,car leasing tips and tricks,car lease deals,new car lease deals,zero down lease deals,best car lease negotiation
DISCLAIMER:
This video is for entertainment purposes only. I am not a legal or financial expert or have any authority to give legal or financial advice. While all the information in this video is believed to be accurate at the time of its recording, realize this channel and its author makes no express warranty as to the completeness or accuracy, nor can it accept responsibility for errors appearing in this video.
Thank you so much for making this video. I've owned about 5 or 6 cars but after buying a $7k lemon used car in January this year, I am going to switch to leasing because we cannot afford any more financial risks (covid hit us hard, but losing money on the used car really ruined us). I am getting so much new information, and I can't thank you enough!
Ooooh negotiating over email sounds like my kind of negotiation! I'm so tempted by some car leases lol.
I love doing it over email, it gives me so much time to think. Car lease can be a great deal, but just got to look at the fine details!
I tried that before and the dealerships Just didn’t cooperate. Maybe they were offended? 😅
@@NaamWynn Yes negotiating online is my speed too. I went to one site and put in my phone# and my phone was blowing up same day. I didn't answer because I'm in beginning stages of research.
I’m trying to negotiate but he saying he needs me to come in to pull a deal together and to talk to his general sales manager. What do I do?
Victor LeClair tell him that you’re negotiating with another dealerships at the same time you’re talking to them and the other dealerships is cooperating. They’ll come around
I've watched a TON of similar content and this takes the cake. Thank you so much for sharing. I've negotiated a few leases before with acceptable results but this info will take my game to the next level.
I watched a few videos about this subject. Your content is #1. Even though I am a good lease negotiator, you have helped reinforce my skills.
Thanks for the kind words! Glad it helped you!
My father always told me to succeed in life you need three things. A good lawyer, a good accountant, and a good mechanic. Now I like to add one more thing to that list. A good car broker!! Thanks for the video. I’m looking to lease a Jeep gladiator and will be using a car broker.
Smart man!
By 1:49 I knew he KNEW what he was talking about✨✨ Im getting my BMW this year. Thank you for the knowledge 💕💕
I sold cars in college so most of what you say is accurate. If the residual is low that’s okay too, provided you’re buying the vehicle. Business leases are fully deductible, so front loading the lease payment pays down the nut 🥜 at the end. Like you said you need to look at the entire deal. Starting with msrp and knowing what the actual residual, breaks down the numbers. I usually talk on the phone first since I’m good on the phone and I can negotiate the deal. I should add I would wrap up the subsequent phone conversations with an email to recapitulate the bullet points. This is after I’ve done my homework and I’ve zeroed in with what I want. The best tip is to be ready to walk out if you don’t like the deal, even up to the point that you’re ready to sign.
Thank you so much for sharing your knowledge. Some of us really don’t get taught this type of information. Cars salesmen are so sleezy😒
There's some good info in this video. My current 3 year lease ends in March 2021 and it'll be the first time ever that I'll be able to turn in a car and get something else with no trade in. I've leased a few times in the past and I've bought a few times in the past. I like leasing and it has always worked well for me when I get the 12k miles per year. I probably drive around 9,000 per year.
My mindset going into my next vehicle is I'm not taking any bs from a dealer. I'll research what I want and if I can't get it for what I think is a reasonable price with my 780 credit score then I'm leaving. I'm not going back and forrth. I'm not sitting around for hours. Not happening. I also want to put down as little as possible. Preferably nothing.
But how do you determine you got a good lease deal? Like a certain % off the MSRP? Or how your monthly payments are a certain % of the total cost?
I like that you negotiate over email cause like you mentioned it gives you more time to think...also washington..nice my state got mentioned
Haha you noticed that! Lol it just popped in my head probably after browsing your channel!
So glad you are starting to see success brother!! Keep grinding and putting out amazing content!
Aye! Thanks man!
Try to think of factors you are not aware the most, that's when the dealer is looking to win a deal. What is that Dealer already knows you have done your research such as Invoice price. But you have no idea what's the interest rate going to be, until the very last minute at the Finance officer to ask the sign. Suprise after 3 hours of talking, you just realize it's 4%. It's too late for you to shop around now, so you just want to get out of there being so tired. The problem is that you won't get any info on the interest rate until the dealer checks your credit... so it goes on and on.
Great information. I've never leased a car. Heck I've never even bought a brand new car in my life. If ever do one of the two, I need to remember these tips!
Haha thanks. Thanks so stopping by anyways!
Thank you, I consider myself a person that won't be screwed... that said, I think I will use your method on our next lease which is happening by next month. Thanks for all the awesome tips!
you'll be screwed if you lease a car... fucked and not kissed i'd say Son.
21 just leased my first dealership vehicle. Honda civic hatchback sport🔥 trying to build credit since ihave none affer three years i will most likely buy it .
Thanks for doing this video Naam. I have never owned a new car and I'm considering leasing one in 2021. I have a lot of people telling me not to lease and a few telling me to lease. I'm trying to decide what I want, SUV or a truck. Some of the models I'm interested in are not available yet. The Mazda CX-30 has definitely caught my attention. Price and gas mileage is important but heated seats and AWD are a must which means higher trim package and price.
I especially love Negotiating over me over email. I feel overwhelmed walking into a dealer shop
I usually dont comment on videos... but this is great content! Thank you!
Awesome! I glad that you liked it!
I sell Audis and VWs and honestly I wish people negotiated this way. Straight to the point and they wouldn't waste my time nor would I theres. I will say though to make it easier on both ends is to throw out some payment goal so atleast I know where we would actually have a deal at because even if we sell the car for nothing you might still not buy it or want more. Otherwise this is much better for both customers and salespeople.
Agreed, as little money down as possible.
Awesome video. What bothers me is that you can go to a dealers website (at least here in CT) and use their own lease calculator. What looks like an appealing lease, at say 365. They then advise that this doesn’t include tax, title, or registration fees, and the true payment is like 550.
Very true, a lot of times you have to read the fine print because it’s very condescending.
One please make sure you are the type of buyer that should be getting a leased car since leasing is a form of renting and has mile restrictions and in the end you can be charged for excess wear. I think there are three types of lease buyers: for work where they can right off the payment, for a person who wants to get into a more expensive car that they normally can’t afford, or someone who is looking for the best deal with zero down. Honda’s and Acura’s typically don’t lease well even though they tend to have okay-good residual values, however there lack of big incentives and IMO mediocre money factors always make them harder to lease at the 1% rule. All of my Acura leases that actually got to the 1% rule or lower were because they were models at the end of their cycles thus Acura started to throw big incentives and good money factors to offset the delving residuals. Naam’s lease is a perfect example of this since he bought a previous gen RDX. It’s true going onto Edmunds and Leasehacker is worth while to find out the residual value for the car your interested in depending on the trim and projected miles per year. The money factor is universal no matter the trim and does change monthly. Since leasing tend to get more incentives than financing, go onto sites like edmunds and track what incentives might be available for you. Sometimes a dealers price has $2000 knocked off the price of the car but you only qualify for one or non of them. For instance a lot of companies offer first responder, college grad, conquest, loyalty incentives. Secondly look up what incentives for that month are out there for the car your interested in, but also openly talk to multiple dealers and ask what kind of dealer incentives are out there. Dealer incentives are just that, incentives for dealers and a lot of cases dealers are giving money by the manufacture to offset the sale of cars. My last lease I asked one dealer and they openly told me the manager didn’t want to use any of their dealer cash this month while other dealers were willing to give me an additional $800 off. other ways to get a good deal is simply track or ask the sales person what is the oldest car you have on the lot or do you have any loaner cars or cars with cosmetic damaged. The older the car the more likely the dealer will take a loss since pretty much all vendors finance their inventory, so every month they are being charged interest if a car just sits there. Cars with cosmetic damage (minor) or loaner cars are good to target since you tend to get a discount for the damage and mileage. Also another important thing is to accurately project your mileage usage. Buying 7500 miles a year vs 15000 per year can effect your residual value, having a ton of unused miles at the end of your lease typically means you overpaid and having too little means you will be paying extra. Also look into different lease programs since some of them are better than others. Acura leases provide GAP insurance and $750 worth of excess wear. If you lease again with Acura there normally is a $500-$750 loyalty bonus, mileage forgiveness up to 7500 miles, an additional $750 towards excess wear ($1500 total), rollover mileage up to 15K miles, and anytime during the lease you can buy out the car with zero fees from Acura.
Thank you so much! You are very good at teaching this process!
Thought this video was going to be like of the rest of these noobs who say they know how to lease a car and have no clue.... this was very informative and you are spot on, sir. The only thing I believe you are missing is MSD’s (if the manufacturer accepts them) to lower the monthly and get it back at the of the lease. Other than that well played, cheers!
Can you tell me how the pandemic is affecting car dealerships right now? Does it put me in a better position?
Edit: as of May 1, the pandemic didn't change anything as far as leasing. There were good deals to be had with 0% down purchases but with a significant down payment. Dealerships were operating with a skeleton crew and test driving vehicles is dicey right now.
My lease is up in the next 24 days so I have to get moving. I'm so glad I found this informative video because I fold like a house of cards when negotiating and I got so abused on my last car lease! I have identified the exact car I want and know it's available at my local dealership.
I heard from one salesman that I can actually trade in my lease. I would like to benefit if possible because I've only driven the car 25K but "paid" for 36K of mileage. The car has had its independent inspection and is rated as "Excellent" so I know both my payoff and the Kelly Blue Book value. Thank you again Naam!
Following
Thanks for the awesome tips! I'm new to car leasing and your advice is appreciated and clear to understand.
back here 2 years cuz i got an amazing car lease deal after watchibg this vid hoping to repeat 😎
I just reminded the salesman that auto manufacturers stopped production because of the Coronavirus, and people have lost their jobs and businesses, and I know they want to get those 2020 vehicles off their lot (which most of them should have been gone by now so they can get the 2021 models in), and I could practically see the guy shrink as we swapped keys.
I negotiated a deal on a 1998 honda civic at 18% interest 120 months for 900$ a month, thanks for help brother!
WOW you are such a doofus! lol! Not even my three month old baby could mess up that bad! XDDDDDD
You gave the best advice possible!
I leased a new 2018 subaru legacy (base model) back when 2018 was still new and I walked in, I said "I'll sign today with no hassle but don't even come back unless u get me in this car at $xxx per month. Im not willing to negotiate, if u can't do it, please tell me and I'll be on my way"
I left with a subaru. Sometimes being hard as a rock upfront will u get the job done
I'm Like number 420! Haha I'm so happy I found your channel
great video, I am so bad at negotiating. I get nervous. I agree the msrp and residual value are important
Negotiating is intimidating. So email is the way to go!
Naam, wow! Great tips here! 👍
A lot of.information and excellent advice!
Thanks Tom!
The Asian Brian Dean! Thanks for the tips bro!
Going to negotiate a renewal lease soon - great video and tips to save the customer money on monthly payments!!
Very good advice thanks
This is such a helpful video. Thank you for posting!
Dude what an amazing video! Thanks so much for all your research and sharing!
Really great info! Thanks
Hi, I am trying to negotiate a new lease, wish me luck!
You can do it!
Brother Naam, that was some solid info. Can I utilize your skills as my negotiator for an upcoming lease for a fee?
Sure send me an email and we can discuss.
Whats your email Naam?
This video is great and you go over strategies ive always used with success, but in this covid world, it seems like dealerships are very unmotivated to move cars off their lots.
Thank you for the information! I will definitely use these tips
Excellent video with some great tips that I'm sure will help me when my lease is up in one year.
Wow this is super helpful!! Thank you so much for making this.
Naam can you Please do a different video concerning my experience at this Mazda Dealership. Explain in detail just which fees CAN NOT BE AVOIDED and which Fees on a LEASED vehicle that CAN be Negotiated and in the end Removed because the extra, expense is not needed. Thanks Again for your Eye Opening videos....
Email is best as there is “paper trail” and you can hold them to it
Thank you for all of this great information. What advice do you have for someone that wants to test drive as part of the research? How do you feel comfortable buying or leasing without test driving?
thank you Naam my lease is up in august I will just email to negotiate or will use a broker
Great video, man. SO helpful! This is my first video of yours that I've watched. I've subscribed now and will be checking out more.
I have a 790 credit score and was just charged 539 a month for zero down with a 39k price tag on the palisade. What should I do it hasn’t been 3days yet?
went to lease a 2021 sonata 35k gave them $1000 down and they were charging $470 a month. I was willing to take the offer. But then for some apparently reason they said no. When u lease/finance, is wat u want pay not wat they want you to pay!! And my credit score is in the 700’s. Car dealers are predators and thieves. If u don’t know wat you’re doing they will rob you!! Beware
Why go to the DEALER to sign papers when they deliver right to my home now
Great info, thank you.
That's an awesome skill @Naam Wynn
great advice on negotiating over email, thanks
Great vid I'm looking to possibly lease a 2022 Acura TLX type s in March it is a $55000 car so this is needed. I might even lease online which I've never done before in fact I've leased all my cars.
My family always asks me to do their car negotiation for them lol
I always negotiate the price before going in and then I try to beat them down more once I get there but usually they're already at rock bottom. But a lot of times they don't take me seriously when trying to deal over the phone. I would like to buy on a site like Carvana but I don't think I'd be able to get as good enough of a deal.
I hear you on that one. It can be challenge on phone or email, since in their eyes your're a weaker lead compare to someone there. But its all about patients and shopping around! Thanks for stopping by Chris!
This is a great video!
What do you mean negotiate to the residual value of the car? Can you explain this a little deeper. Thanks!
Very informative, great job. We are about to turn in our first ever car lease needed help what to do next if to buy or continue with lease as it was cheaper for us than to buy it.
Thanks for advice . I'm considering to lease a vehicle. I thought all leases based on msrp ?
Thank you for valuable information. My Prius lease expires on December 9, 2020. But I have about 50,000 miles above allowed miles because I drive for Lease. Should I buy this car or find another car because I will no longer be driving for Lyft. Any suggestion will be greatly appreciated. Thanks
Thank you! very informative
Thank you for sharing!
Great information! I’m hoping my 2017 Kia will last me a good loooong time, but with my commute I’m definitely putting miles on it. Already up to 50k😕. If/when I get my next car, I reeeeeeeally want a Tesla.😩😅
Yea it will last a while! lol. I have my eye on a Tesla next as well.
Can you share a template for an email negotiation?
Thank you.
Naam love your video. I want to lease a CLS MB 2020. Are MB dealers harder to work with?? Thanks
Thanks! I wouldn’t say easier, all dealers are about the same they just want to make money. But if the numbers are right, they will make the deal.
Thank you Man!
Thanks for the information, I was thinking I'm gonna lease a car soon
Glad you found it helpful! Let me know if you have any questions.
Great advice. May I ask about trade in during negotiations? Specifically I have a vehicle with positive equity. I plan to keep the positive equity and NOT use it for the new deal. When should I mention my vehicle?
Great video! I have a couple questions hoping to get a replay... Are those lease deals offered on TV. commercials and car websites, the best deals? and, can you get a better price than that? If so, how?
amazing post. thank you
Fire video bro 💯
hello great video
im in the market for a Toyota Camry xse 2020, I'm doing the research to see how much I can lease the car for, im thinking $300 max
or a toyota Camry se nightshade for 250 a month. both with 12k year for 36 mo
please guide me
thank you
I have a Lexus 2017 I
S 200 & the lease is up in a couple of months.
I’m thinking of extending the lease for 1 year. Maybe 2. There is only 6K miles in the car
What are your thoughts on the pros & cons of extending the lease?
I learn a lot from. Thankyou
Hey Naam, what’s the typical credit score would qualify with your tips to negotiate?
The higher the better. To get a Tier 1 credit for leases you typically need scores over 720. But credit need is a very complex topic, since all lender have all different requirements. They may not look at your Fico score and focus more on history, like late payments, and previous auto loan. So it’s pretty hard to tell you a set number. The higher the better and have a great credit history will get you in tier 1 to get the lowest interest rate.
You rock! Thank you
Hey, This is very helpful. Is this 1 % strategy applicable in today’s market also, When there is scarcity of vehicles. And Dealers are increasing MRP. I want to lease Honda CRV.
this is great information. My car of 10 years died 5/30/2020 :( Anyway so I find myself looking to lease for first time ever and during COVID. Do you have any updated tips that I should consider during this pandemic?
Hello I tried edmunds but have not gotten an answer. I was trying to find out the money factor, residual value, and lease incentives for zip 93308. Do you know any of these?
What if you want to lease a new car for 36 months to get lower monthly payment but know you will drive way more than the low mileage? Then, I would like buy the car but how to negotiate that higher monthly payment? Suggestions?
Well if you know you drive a lot miles you can always prepaid you miles ahead of time. And depending on the financing company they can return any unuse miles. Also try to compare deals that others are getting since it’s probably easier because it’s been done before.
Quick note! A lot of car sales people (90%) don't actually know how much the car is bought for. Reason being is they are human and will end up empathizing with the customer an get rid of all the mark up. If they dont know how much the car is bought for they end up making more profit because they dont know the bottom line so they fight for every dollar!
Hi Naam. I’m looking at leasing a 2020 or 2021 Toyota Hylander with no money down. Is it possible to pay for taxes, registration fees and title out of pocket to keep the monthly payment down?
Solid
Thanks Valentin!
Should I get wear and tear if I plan on keeping it at the end of the term?
You are the man
Is it possible to get Honda Accord Sport with 2.0 engine or Ex-l for $300.00 to 315.00 a month lease deal in 19401 area code?
Do you tend to get better deals in nov/dec on new cars from that year?
Yes
Nice tips if you don't ask you won't get !!!
Exactly!
Hey Naam I recently went to my local Toyota dealership to try and lease a 2020 Tacoma off road but the salesman kept saying that Toyota isn’t letting him make any deals. We were prepared to have a 4,500 or 5,000 down payment in hopes he would agree to give us a monthly payment of 360 but he just wouldn’t make us a deal. Going to a different dealership Wednesday any tips?
So once your lease is over, do you have to put another down payment down or will they just put in that same newer model car for same payment ?
The down payment you put down initially for the lease applies to that specific lease. If you put down a security deposit, you get that money back at the end.
How do you like your Acura RDX? Wifey and I are ready to lease a 2020 Acura Rdx today. Came across your channel and to our surprise you leased one (what a coincidence) We are in Los Angeles
I have a quick question. How do you trade in a car to help with the lease payment? Additionally, do you suggest selling the car to a third party instead of trading it in to lease a car?
If you trade in a car basically that money as a down payment to your lease. I don’t ever recommend trading in your car, unless you don’t want to have the hassle of selling it to a third-party.
Hey Naam, would you utilize your skills as my negotiator for an upcoming lease for a fee?
Man, i got to get a fake tree like yours once i build my recording studio!
Haha, you should man. I office space I was in had it in the room already, so it was a great addition to my set. Since I don't work from that office studio anymore, I'm planning to upgrade my set at home.
Hello naam i want to get a 2019 Toyota higlander le plus whats a good lease price for that with a 690 credit score ?
This car is about $36,760 MRSP. So you should aim for a price around $350-$400. Toyota typically don't lease well, so it well required a lot of work shopping around.
@@NaamWynn thank you so much i went an they where offering me payment lease of 570 so i left lol
@@deeluckyflips_3235 Good decision.
how the fuck would you expect to get a highlander for $350/mo?
@@NaamWynn can you make a video on which cars lease well. ?
Do you normally lease vehicles without test driving the vehicle first?
Not always, but sometimes I do. I usually do a test at a near by dealership to make sure I like the car.
Naam, thanks so much for the helpful video. I own a 4 yo BMW and I would like to trade it in and do a lease this time. My guess is to not mention the trade with the initial email outreach but I know all of the dealers will ask me! What is the best way to handle a trade as part of the negotiation? Also should you mention how you want to pay for the car? Thanks again for this great video!
I never recommend trading in a vehicle or putting money down on a car lease since you're basically just paying your car lease early. But if you were to use your trade-in, I would mention this Last after you negotiated the price as low as you possibly can. This way the salesman cannot use your trade-in as an incentive for the negotiation price.
As for how you want to pay for the car, typically for a lease it's through monthly payments or a one pay lease, but they usually won't ask this, they would focus on monthly payments.