Negotiating a Car Lease

Negotiating your next car lease is just as important as negotiating a traditional car deal.  This is so important because the lower the total price, the lower your payment will be.  During the negotiation process and before signing a lease contract, there are additional details you need to be sure and examine.  These details are required to be included in your contract and include:

• Capitalization Cost – Total price of the vehicle (used to calculate the payment.)
• Interest Rate
• Up-Front Fees and Taxes
• Credit for Used Car Trade-Ins
• Residual Value and Amount to be Depreciated
• Acquisition Fee – Fee due at the beginning of the lease.
• Disposition Fee – Fee due at the end of the lease.

Other details to look for include a detailed description of “excessive wear and tear.”  This will determine to what extent you will be penalized if the vehicle incurs any wear beyond what is considered normal.  If it isn’t already covered in your lease contract, this is also when you will be asked to consider purchasing GAP insurance.  GAP insurance covers the difference between the amount owed on a vehicle and the insurance payout in the event of the car being totaled or stolen.  Lease contracts also usually prohibit the installation of any after market accessories.  With that being said, a lessee should always ask before making any changes to a leased vehicle.  Other fees usually paid by the lessee include sales tax, annual registration fees, maintenance, and insurance.  All of these details should also be outlined in the contract.

Weiss is your new and used certified Toyota dealer near O’Fallon.  Be sure to stop by to check out our huge selection and great prices today.  Our sales team is ready to take you for a test drive and send you home in your new Toyota car or truck.