In today's rugged economy, there's very little difference between new-car dealers and a new-car leasing dealership and as each has certain numbers they have to hit every month and as the model year winds down car leasing companies are finding themselves with slow-moving inventory they have to clear out to make way for the next year’s models. You can make some great leasing deals, if you know what to do and here are some suggestions:
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Like new-car dealers, a lease company will usually list the inventory it has available for lease today. Look at the models that have been in inventory the longest and then, armed with this knowledge, head for the leasing office. Chances are they will move heaven and earth to get you behind the wheel.
Fleet leasing companies and standard leasing companies rely, like car dealerships, on your credit standing. If you have poor credit they will not be able to place the lease with a finance source, no matter how much they want to, so make sure that if you do not have great credit that you bring a co-signer who is willing to help you out and act in your behalf so that the leasing company can make it happen quickly
With car leases running from 36 to 48 months, if you were able to lay a 24-month lease on the table at a price you can afford, you will likely find the car leaser doing handsprings because this means that they will be able to turn your car around in two years and not four and that the mileage will be very good. This means, though, you may need to bring a very good down payment with you. Remember, this is a lease so that you won't have anything when you turn the keys over to the dealer in two years, other than a pile of statement slips, of course. Given the price of today's cars, though, most people never seem to get out from under a car payment anyway, so they have built it into their monthly payments.
If you can take the car today, have good credit and a good down payment, not only will you get the deal you want, but you will also be able to have the vehicle pretty much on any terms you dictate. If you offer an “open-end” lease, where you take on much of the responsibility and it opens up your mileage, then you'll probably find a clean red carpet and warm car waiting at the end of the run. This will ensure you get the best rate from the leasing company.
In all of this, you still have to temper your expectations. The economy is still in the doldrums and money is still hard to get even for people with excellent credit, so don't expect to walk right into a leasing company and walk away 15 minutes later with the deal of a lifetime. You may still get the deal you want, but you have to remember that it will take longer than you think, so you must set your expectations to meet the realities of the market.
