You have probably seen and heard about “special” lease deals everywhere. You’ll find them on television commercials, in newspapers, on the radio, and all over the internet. If it’s an advertised special, any dealership that sells the car will generally offer it to you at that special price. According to dealers, these special deals are set up by car manufacturers to help the dealers sell a large volume of cars quickly.
Are Special Lease Deals Good Deals or Not?
A question that you should ask yourself is whether or not these special advertised deals are actually good deals. If you consider the fact that these special deals are actually meant to help dealers move out old inventory to open up space to buy more cars from the manufacturer, it would be fair to assume that these deals are generally good deals. However, the best car lease deal is one where the selling price used to calculate the monthly payment has been significantly reduced. The selling price should be significantly below the MSRP and as close to or even less than the invoice price. The more technical term that dealers use for the selling price is gross capitalized cost. Look for this term in the fine print of lease ads and compare this value to the MSRP and also the invoice price of the car.
Can you get a deal that is cheaper than the advertised special?
Another question you should ask yourself as a potential lease customer is whether or not you can negotiate a deal that is far better than these advertised specials. The simple answer is that yes, it is definitely possible. The more complex answer to this question is that negotiating a deal that gives you a lower monthly payment or down payment than what is advertised can be difficult. What makes it difficult is that if you attempt to negotiate a deal that puts less money into the dealer’s pocket, they often will ask you why they should offer you this outstanding deal when they can sell it to a different customer at the advertised special price. What it really comes down to is the volume of the dealership’s sales and how confident they are in their ability to sell a certain number of cars by a specific date. One dealership may tell you that they will not go a penny below the advertised special while another smaller dealership who hasn’t had much sales that day/month may offer you an even better deal if they feel convinced that you are ready to seal the deal now.
I was able to lease a 2010 Camry LE for $182.23 per month even though the special nationwide deal advertised on Toyota’s main website was offering the car at a monthly payment of $199.00. Here is a scan of the details of the lease:
Getting the best car lease is possible, it takes time and negotiation skills. Check out other articles for tips on the best times to get a lease and how to negotiate the lowest lease payment.