How to Find out the Manufacturer's Lease Rates
There's no source that publishes all of the current figures so the consumer is left to figure it out on their own.
Each month, manufacturer's send dealers an updated list of residual values and money factors for each model and trim level.
It looks something like this:
With this information, you can easily calculate what your monthly lease payment will be.
To get this information, all you need to do is call a car dealership and ask to speak to someone in the finance department. Let them know you're interested in leasing a certain model and that you'd like to know what the best residual and money factor is on a 36 month lease (or whatever you prefer).
Some dealers will want to know what your credit score is so they can give you the correct money factor.
You should have no problem getting the leasing rate information - if you do, just call another dealer. In fact, you'll want to call 2 or 3 dealerships anyway, just to make sure you get accurate figures.
That's really all there is to it.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid