Should You Lease From the Same Company Again?
If you don't shop for the best lease deal every time, you're going to pay for it with a higher lease rate - simple as that.
Leasing companies have learned to take advantage of the trust that's been built up during a lease. They know that most people would rather take the easy road and renew rather than shop around for the best lease deal.
Because of this, they are more likely to input favorable terms for themselves, not you. They may nudge up the interest rate or lower the residual values a bit, both of which would make the lease more expensive for you.
In almost all cases, profits for a leasing company go up on the second lease.
A simple rule to follow: Always shop around for a lease as if you've never leased before.
My Recommendation for Car ShoppersTrueCar No-Haggle, Edmunds Price Promise and Ryde Shopper are the quickest way to see the lowest car prices in your area. These sites show you no-haggle prices from dealers closest to you - and the deals are usually really good. This should be the first step you take when negotiating your car price. Follow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
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About: Gregg Fidan
Gregg Fidan + is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.