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.
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