Everything You Want to Know about Negotiating a Lease

[Pikeville904]

Thanks for the info, brings some new light to the lease prospect, and will come in handy when my wife's vehicle comes off lease next spring.

 

[PowrRam]

My 21 yr old son leased a 19 Challenger R/T w/6spd manual last month (no extras beyond base features of an RT) and the dealer was able to get another $3k off by financing through Allied vs Chrysler Capital. $3k down, $230/mo for 36 with 10k miles/yr. Just another thing to consider.
Purchased price was in the $480/mo range with same down payment.

I didn't want him to have a new car commitment that young but he walked to work a few miles away for months until he could buy the $1600 beater he had and finally got to spot where he could make regular payments on something reliable. They gotta have goals.

M² Mods.

My 21 year old son, a recent college grad, got a good paying job in Arizona in February. He would be driving to Oregon and working there June through September, then going back to Arizona. He needed a car. He had some money saved up, but only enough to buy a $5,000 to $6,000 car. That doesn't buy much--maybe an 8 to 10 year old small or mid-sized sedan with 150,000-175,000 miles on it. I couldn't stand the thought of him driving to Arizona in a 10 year old car of dubious reliability, never mind going to Oregon and back to Arizona. So the leasing option jumped front and center. He has less than $1,500 in monthly living expenses, so a $280 lease payment is not bad at all. The peace of mind it gives me as a parent to know he's in a new, safe vehicle with no repair expense worries is incalculable.

 

[Mpgrimm2]

The peace of mind it gives me as a parent to know he's in a new, safe vehicle with no repair expense worries is incalculable.

^^^^ This exactly. I have had to drive 4+ hours away ... Twice ... when 2 different $3k cars broke down on my son while at college. (Broken timing chain, blown head gasket)

Same reason we leased a $130/mos Dart for the wife while I was away for work in Indiana for 11mos.

M² Mods.

 

[dbr7]

This is phenomenal! I did a lot of this when I got my Warlock.

 

[fmichelson]

great and thorough writeup, I just posted "9Mo Lease Up" that this answers, I'm not looking for buy out, only for lower monthly payments by going from a 8-cyl to a 6-cyl, it's a 2021 bighorn hemi quad that will have about 23K mileage and I think the amount remaining on vehicle is $26,000